German listed office property company IVG Immobilien has rented another 18,500 m[sup]2[/sup] in its flagship The Squaire office development project at Frankfurt Airport. In a statement on Friday, the Bonn-based company said Deutsche Lufthansa has agreed to relocate to the scheme, bringing total occupancy levels to 82%.
German listed office property company IVG Immobilien has rented another 18,500 m2 in its flagship The Squaire office development project at Frankfurt Airport. In a statement on Friday, the Bonn-based company said Deutsche Lufthansa has agreed to relocate to the scheme, bringing total occupancy levels to 82%.
A 1,000 staff of Germany's largest airline will move to the 660-metre long building on delivery in the spring of 2012.
'With three key tenants in place and an occupancy rate above 80%, our letting strategy is right on schedule,' said Wolfgang Schäfers, member of IVG's management board. 'Our future efforts will focus primarily on the marketing of small or mid-sized units as well as flexible office concepts, and on optimizing the intrinsic value of the complex.'
Other tenants include software developers Jedox and Fabasoft, financial service provider MPC and the business consultancy Plenum
The Squaire, located on top of the airport's ICE high-speed train station, is 97% owned by IVG Immobilien, with the remaining 3% held by airport operator Fraport.
