HQ expansion: ZÜBLIN purchases Atlanta Business Center high-rise complex in Stuttgart-Möhringen

• Ed. Züblin AG acquires two-part office building from alstria office REIT-AG
• Company invests in expansion of offices in Möhringen
• Real estate acquisition creates possibility for 800 to 1,000 additional jobs at company’s headquarters

With a recent real estate acquisition, Ed. Züblin AG is expanding its headquarters in Stuttgart-Möhringen while preparing for future growth. In an off-market deal, the German market leader in building construction and civil engineering is set to acquire the two-part office tower complex Atlanta Business Center at Vaihinger Straße 131 from alstria office REIT-AG. The parties have already signed a purchase agreement to this effect. The architecturally complex building ensemble in the immediate vicinity of the ZÜBLIN campus was built in 1992 and consists of a high-rise building with 16 floors as well as an adjoining four-story building.

“The building will enable us to expand our capacity at our Möhringen site through an additional 800 to 1,000 jobs in the long term. In the medium term, the acquisition will allow us to consolidate all of ZÜBLIN’s activities in the Stuttgart region here at the company’s headquarters while also creating additional space for future growth,” explains Stephan von der Heyde, member of the Management Board of Ed. Züblin AG.

Property to be refurbished in accordance with sustainable development aspects

The property with a total usable floor space of around 22,000 m² is still fully leased and will be thoroughly refurbished in accordance with sustainable development aspects once it becomes vacant. Definite scenarios or dates are not known at this time. “After completion of the refurbishment of the Atlanta Business Center, some of the areas not required by us will initially be rented out externally, although this space will remain at our disposal for possible future expansion in the long term,” explains Oliver Schirp, STRABAG’s head of real estate, who is overseeing the purchase and future operation of the property.

In addition to the office space, the building complex also includes a staff restaurant measuring just under 1,370 m² as well as an underground car park with 497 parking spaces distributed over three basement levels and around 1,570 m² of storage space.

Together with the Z1, Z2 and Z3 office buildings at the neighbouring ZÜBLIN campus and the new corporate building currently under construction at Albstadtweg 10, the high-rise complex at Vaihinger Straße will form an innovative centre with short distances for around 2,200 employees of the STRABAG / ZÜBLIN Group in Stuttgart.

Facts & Figures

BUYER:

Ed. Züblin AG

SELLER:

alstria office REIT-AG

PURCHASE MANAGEMENT:

STRABAG BRVZ GmbH Co. KG

TECHNICAL DUE DILIGENCE:

STRABAG Property & Facility Services GmbH, Frankfurt

Ed. Züblin AG, Stuttgart Subdivision

REAL ESTATE AGENT:

Colliers International Deutschland GmbH, Stuttgart

LEGAL OFFICES INVOLVED:

Heuking Kühn Lüer Wojtek Partnerschaft mbH, Stuttgart

CML Construction Services GmbH, Cologne

Noerr Partnerschaftsgesellschaft mdB, Munich

KEY FACTS ATLANTA BUSINESS CENTER:

Construction: 1992

Height: 63.5 m (high-rise)

Storeys (above ground): 16 (high-rise) and 4 (low-rise)

Basement levels: 3

Gross floor area: 24,334 m²

Property size: 11,520 m²