Frankfurt, 11/ July/2019 – publity AG (Scale, ISIN DE0006972508) is pleased to announce the full letting of the recently acquired “Access Tower” in Frankfurt/Main with a total lettable area of around 21,000 square meters. The last available rental space of approx. 2,300 square meters has now been leased to the fitness chain FITSEVENELEVEN for a period of 15 years. The average remaining term of the rental agreements (WAULT) for the property now amounts 10 years.
With its 69 metres and 21 floors, the office tower is one of the tallest buildings in Frankfurt’s district of Niederrad. It was built in 1970 and completely remodeled in 2002. The property offers high-quality office space, excellent facilities and an attractive mix of restaurants and other service providers. The property, which also includes over 300 parking spaces, is situated in the centre of the Niederrad office district, between Frankfurt city centre and the airport.
Thomas Olek, CEO of publity AG, comments: “We are delighted about the full letting of the Access Tower in Frankfurt/Main and the long-term contract for the remaining rental space. This represents a value-enhancing development of this attractive property and thus also of our entire real estate portfolio.“
Finanzpresse und Investor Relations:
Axel Mühlhaus/Peggy Kropmanns
Phone: +49 69 905505-52
publity AG (“publity”) is an asset manager and investor specialised in office real estate in Germany. The company covers the core of the value chain from the acquisition to the development and the sale of real estate. With over 1,100 transactions in the past seven years, publity is one of the most active players in the real estate market. Currently, the company manages a portfolio with a value of over five billion euros. publity is characterized by a sustainable network in the real estate industry and in the Work-Out departments of financial institutions. With very good access to investment funds, publity handles transactions rapidly with a highly efficient process and proven partners. On a case-by-case basis, publity participates as co-investor in joint venture transactions to a limited extent and acquires real estate for its own portfolio. The shares of publity AG (ISIN DE0006972508) are traded on the Scale segment of Deutsche Börse.
publity AG_Office tower ‘Access Tower’ in Frankfurt Main fully let