Visualization of the project at Emil-von-Behring-Straße 2. (Source: benchmark. REAL Estate)
Benchmark is taking over an existing property in the north of Frankfurt – around 9,000 square meters of modern office space is to be built here by 2026.
Benchmark Real Estate GmbH (Benchmark) has acquired an approximately 6,000 square meter property with an existing building in Frankfurt’s Mertonviertel from Cresco Real Estate. The project developer wants to create around 9,000 square meters of office space and 130 parking spaces on Emil-von-Behring-Straße by the first quarter of 2026.
The existing office building was built in 1988 and is located near the Riedberg university campus. The project is connected to the city center and the motorway network via the A661 motorway access road and the Frankfurt Wiesenau and Frankfurt Riedwiese/Mertonviertel subway stations.
As part of its redevelopment strategy, Benchmark aims to dismantle the building down to the supporting structure and rebuild it according to the most modern standards and requirements. “The structure of the supporting structure and the existing floor heights are ideal for constructing a contemporary building in new construction quality that meets the criteria of the EU taxonomy,” explains Götz U. Hufenbach, managing partner of Benchmark. “In line with the high demand for modern office space with the highest workplace quality, we are sure that we will be able to create an office product that is absolutely marketable at this high-potential location in Frankfurt,” adds project manager Till Daryusch Ghaznavi.
The transaction was supported for the seller by CBRE as well as by Hogan Lovells and FPS Rechtsanwälte. The buyer side received legal support from Bornheim & Partner and tax support from Rotthege.
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Thorsten Schnug
Management program at immobilienmanager
2023-10-17 10:30:21
#Frankfurt #Benchmark #developing #offices #Mertonviertel
