AXA Investment Managers – Real Assets (AXA IM – Real Assets), acting on behalf of clients, has launched the construction of The Mark, its new office development in Munich, Germany.
FOM Real Estate GmbH Heidelberg has been mandated as delegated development partner, with delivery expected in 2022.
The MARK will offer c.55,000 sqm of office space spread across two buildings of up to eight storeys and centred around a landscaped forecourt and three courtyards. The striking property comprises a modern “folded” façade structure, with floor to ceiling windows throughout and access to several roof terraces offering breath-taking views of the city. Each level includes flexible floor plates, allowing for the creation of highly individualised 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 e-charging stations.
The ambitious development project was commenced by AXA IM – Real Assets in March 2018 with the site’s acquisition. Designed by KSP Jürgen Engel Architekten, the building concept responds directly to the major shifts in the way people work and live, brought about by the cultural, demographic and technological advances in the world of work. In alignment with AXA IM – Real Assets’ Responsible Investment and ESG Strategy, sustainability has been a key consideration throughout the development process, and the building has been designed to achieve a LEED Gold rating, reflecting high energy and environmental credentials.
Strategically located in West Munich, between the Core S-Bahn Route and Landsberger Straße, The MARK is easily accessible via car and public transport, while a new bicycle path connects the building to the city centre. The area is well serviced by a range of shops and amenities.
“While the world currently faces a challenging economic backdrop, we remain firm believers in the long-term strength of the Munich office market. Our commitment to this ambitious project was driven not just by the quality and location of The Mark, but also the city’s long-term low vacancy levels coupled with significant supply constraints, likely to be further exacerbated by COVID-19, and the strength and resilience of the local economy, said Germain Aunidas, Head of European Development at AXA IM – Real Assets.
“We have been bold with The Mark’s concept and design elements, with wellness and sustainability prioritised throughout, in order to set a new standard for workspace in Munich and ensure that this building is future-proofed and aligned with how the next generation wants to work and live. We believe that The Mark presents a unique office proposition that should stand the test of time and are confident that the completed project will attract strong tenant interest,” he added.
Witte Projektmanagement GmbH has been appointed project manager, with Züblin appointed as general contractor for The Mark’s development.