Frankfurt am Main, 03.11.2020 – publity AG (Scale, ISIN DE0006972508) has achieved another asset management success. The tenancy agreement with one of the main tenants, the technology company Johnson Controls, for an office property in Neu-Isenburg with a floor area of around 7,500 square meters, has been extended by a further five years well before the original deadline in March 2021. In addition, Johnson Controls has almost doubled the space rented in the property to over 1,300 square meters and has been using the expanded space in full since November 1, 2020. publity has thus increased the occupancy rate of the entire property to 91 percent from previously 84 percent.
The five-story property, built in 2002, is located in Martin-Behaim-Straße in Neu-Isenburg, in the immediate vicinity of Frankfurt am Main and Frankfurt Airport.
Thomas Olek, CEO of publity, comments: “Once again, we have been successful in our function as asset manager in letting the property, despite the current challenging conditions due to the corona pandemic. Since the purchase of the property at the end of 2015, we have optimized the tenant structure in the property and significantly increased the occupancy rate. The location is clearly characterized by its close proximity to the Frankfurt metropolis.”
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publity AG (“publity”) is an asset manager and investor specializing in office real estate in Germany. The company covers the core of the value chain from the purchase, the development to the sale of the 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 more than five billion euros. publity is characterized by a sustainable network in the real estate industry as well as in the workout departments of financial institutions. With very good access to investment funds, publity handles transactions quickly with a highly efficient process and with proven partners. In some cases, publity participates as a co-investor in joint venture transactions and acquires real estate for its own portfolio. The shares of publity AG (ISIN DE0006972508) are traded in the Scale segment of the Deutsche Börse.
publity AG with successful letting of office property in Neu-Isenburg