Conren Land, an investment firm headquartered in Frankfurt am Main, has acquired Scala West, an office building at Solmsstraße 83 in Frankfurt am Main, Germany, from Deka Immobilien in a club deal.
The The 18-storey office building has 21,200 sqm of total rental area and views of Frankfurt city centre.
The building was built in 2001 and is currently around 95 percent let with a WALT of 2.5 years. Key tenants include State Street Bank International, Rabobank and Commerzbank.
In addition to an extensive energy-efficient modernization of the façade, Conren Land is planning further renovation measures, including the conversion of heating technology to district heating and the construction of e-charging stations.
Jan-Ludwig Brügelmann, CIO of Conren Land, says: “The Scala West impresses with timeless architecture and a very good location in the City West office market. We will position the striking building for the future with targeted measures. All in all, we were able to secure an extraordinary and attractive property for our investors with further appreciation potential.”
