GIEAG Immobilien AG: GIEAG concludes new lease in its MAYOFFICE office development in Stuttgart

GIEAG concludes new lease in its MAYOFFICE office development in Stuttgart
 

- Stoye-Benk notarial office leases entire 3rd floor with 1,500 square metres of office space
 

Stuttgart/Munich, 14. January 2021: The family-run, Munich-based real estate company GIEAG Immobilien AG (GIEAG) has concluded a new lease agreement for office space in its  MAYOFFICE development in the Pragsattel district of Stuttgart. The development's latest tenant is Christiane Stoye-Benk's notarial services firm, which has signed a lease for the entire 3rd floor of the building, comprising around 1,500 sq m of state-of-the-art office space plus storage areas. Christiane Stoye-Benk joins a roster of tenants that already includes ADWEKO Consulting GmbH and ISM INTERNATIONAL SCHOOL of MANAGEMENT. With the new lease in place, more than 80 per cent of the property's modern office space has now been let on long-term leases.
 
MAYOFFICE is a major office development in central Stuttgart, close to Theaterhaus Stuttgart, Friedrichsbau Varieté and Höhenpark Killesberg. The scheme's two buildings, one office MAYOFFICE and one residential MAYLIVING, are being developed by GIEAG. Final completion is scheduled for Q2 2021. The high-quality of the development's office and residential space are underscored by its prime location, right next to Stuttgart's new Theaterplatz.
 
"Against the backdrop of the coronavirus pandemic, Stuttgart registered the sharpest drop in new office leases in Germany in 2020. According to a recent JLL study, new leases declined by a massive 56 per cent. This new lease confirms that the quality and location of our MAYOFFICE scheme enables us to defy prevailing market trends and overcome the challenging situation on the Stuttgart office market in particular", explains Thomas Männel of GIEAG Immobilien AG.



About GIEAG Immobilien AG:
GIEAG is a family-run, Munich-based public limited real estate company. Shares in GIEAG Immobilien AG are traded on the Munich Stock Exchange. Combining three asset classes -- office, residential, and logistics - and two service areas - development and portfolio management - the company brings to market a range of uniquely stable investment opportunities. GIEAG's team of experts stands as a guarantor for innovative and forward-looking real estate investment concepts.
Over the past 20 years, GIEAG Immobilien AG has developed and optimised a substantial number of properties with floor areas of up to 145,000 square metres in projects involving individual investment of between EUR 15 million and EUR 150 million. Partnership, transaction security, consistency and agility are the guiding principles by which GIEAG Immobilien AG achieves its long-term goals of increasing shareholder value.