Bavaria Towers still on course for success: high-tech giant from Silicon Valley leases 5,400 m² office space in the Blue Tower
• 10-year lease contract with an option to lease expansion space
• Smart and rapidly expanding US-based high-tech company
• Other lease contracts in final negotiation
Bavaria Towers is one of the most spectacular real estate projects in Munich and is on course for further success: the developer Bayern Projekt GmbH has recently concluded a new long-term lease for 5,400 m² lettable area in the property complex located in the east of the state capital. The lease with a US-based high-tech giant includes an option to lease expansion space. The IT company is headquartered in Silicon Valley, one of the most important locations in the IT and high-tech sector, and will relocate its Munich office to four floors in the Blue Tower at Bavaria Towers from February 2019, with an option to lease further space. The company is one of the world’s leading manufacturers of graphics processors and micro chipsets. The letting was brokered by Colliers International. Sven Renz, Managing Director of the developer Bayern Projekt, is excited about the deal: “The development of Bavaria Towers is one of Germany’s most visionary real estate projects under the mission statement ‘tomorrow starts today’. The fact that a high-growth high-tech company from Silicon Valley has selected the Blue Tower as the location for its Munich office is unequivocal proof of the attractiveness of the complex for the future-orientated IT sector, which lays great store by a pleasant and innovative working environment for its workforce, in view of the shortage of qualified staff.”
The new tenant in Bavaria Towers is one of the world’s leading high-tech companies, specialising in graphics processors and micro chipsets, which has recently firmly positioned itself in the fields of artificial intelligence, gaming and components for autonomous cars. The deal is the second major lease to be concluded over the last few weeks and is the most recent success story surrounding the landmark project. Bavaria Towers comprises a total of 62,000 m² lettable area in three office towers plus a hotel high-rise with 15,600 m², known as the White Tower. The buildings are between 46 m and 84 m high and are an impressive addition to the skyline of the Bavarian state capital. Bayern Projekt says that the marketing of the property is on a roll: “We have a large number of serious enquiries from tenants looking to lease our complex, and as construction progresses the project is becoming ever more visible and highly sought-after on the Munich property market. We are sure to announce further major lettings to anchor tenants over the next few weeks”, explains Markus Turrek, commercial project leader and signing officer at Bayern Projekt GmbH.
The investor Von der Heyden Group is also delighted with the current project status: “We are now on the home straight towards the completion of Bavaria Towers and the conclusion of the second major lease contract is a decisive milestone in the 12-year history of this extraordinary project”, says Sven von der Heyden, Chairman of Von der Heyden Group. “We are very confident that we will let the remaining space in the upper floors during the course of the next few months and I would already like to extend my thanks on behalf of all the owners to the teams at Bayern Projekt GmbH and Colliers International Deutschland GmbH for the very successful collaboration.”
Bavaria Towers redefine Munich’s East
Building works on Munich’s new premium property are proceeding according to plan, and the internal fit-out and installation of technical building services are already at an advanced stage. The €380 million building complex at the corner of Einsteinstrasse/ Prinzregentenstrasse will not only be one of Munich’s largest development projects but will also visually redefine the eastern gateway to the city centre. The initiator of Bavaria Towers is Bayern Projekt GmbH, which is developing the project after over 10 years of preliminary works and planning together with the investors Von der Heyden Group and Zurich Gruppe Deutschland. Completion is planned for year-end 2018.
