Deal News: AXA IM Alts secures first anchor tenant for The Mark, Munich with pre-let to Commerzbank
AXA IM Alts, a global leader in alternative investments with €168 billion of assets under management, announces that its real assets development team in Germany has signed a pre-let agreement with Commerzbank at The Mark, its flagship office development in Munich, Germany.
Commerzbank will be The Mark’s first anchor tenant and has agreed to take c. 8,500 sqm of space at the property on a 10-year fixed lease, with an intended move-in date of March 2023. Commerzbank will unveil its innovative hybrid office concept at the Mark for the first time, which will be rolled out across other Group locations thereafter.
Located at Landsberger Strasse 350-356 in the west of Munich, The Mark will offer c.55,000 sqm of office space spread across two buildings of up to eight floors and is centered around a landscaped forecourt and three courtyards. The landmark property comprises a modern “folded” façade structure, with floor to ceiling windows throughout and access to several roof terraces offering breath-taking views over the city. FOM Real Estate GmbH is acting as development partner.
Each level includes flexible floor plates, allowing for the creation of highly individualized workspaces to appeal to a diversified tenant base. In keeping with its emphasis on wellness, the property will include a plethora of green spaces and catering facilities which will be available throughout the building. Tenants will also benefit from a 550-space underground carpark, alongside storage for 280 bicycles, complete with an e-bike rental station and numerous e-charging stations.
The Mark is due to be completed in 2023. The building is being developed in line with AXA IM Alts’ global sustainability strategy and has been designed to achieve a LEED Gold rating, reflecting high energy and environmental credentials.
1 Source: AXA IM Alts unaudited data as of 30 September 2021.
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