Cushman & Wakefield has successfully advised on the sale of an office building in Berlin. The property at Nürnberger Straße 49 was sold by a private owners' association to a property company.
The office building was built in 1962 and extensively refurbished in 1996. It has a total rental area of around 2,200 m² on a plot of more than 1,000 m². The occupancy rate is 100 %. The immediate neighbourhood of the Femina-Palast (formerly the Ellington Hotel) and the developments around the KadeWe (e.g. Passauer Strasse 1) will further enhance the value of this Schönberg location in the future.
The weighted average remaining lease term (WALT) is 3.3 years without options and 6.0 years with options.
The parties have agreed not to disclose the purchase price.
Cushman & Wakefield advised the seller on the transaction and provided technical support through its PDS team.
