Union Investment acquires office tower in Düsseldorf

Union Investment acquires office tower in Düsseldorf
Image: Courtesy of Union Investment / Peter Weihs

Union Investment has acquired the Eclipse office tower on Kennedydamm in Düsseldorf.

The landmark building enjoys a highly visible location and is close to completion, said Union Investment.

Completion of the 60-metre office tower at Georg-Glock-Straße 22 is scheduled for the end of October this year. The building is triangular in shape, with 16 floors offering some 27,500 sq m of rental space in total.

It is located on one of the main arterial roads in the sought-after Kennedydamm submarket, which links the city centre to the airport.

“The Eclipse is a landmark building that will be competitive in the longer term. It offers modern, flexible office space and a high level of sustainability. Given that the supply of high-quality office space remains limited in Düsseldorf’s premium locations, we expect prime rents to continue to rise,” said Alejandro Obermeyer MRICS, head of Investment Management DACH at Union Investment.

“We are pleased that with Union Investment we were able to win an experienced investor for the outstanding Eclipse project, who recognized the high quality of the project development and also has the know-how as well as the substance to operate the property in a sustainable and value-enhancing manner. Furthermore, our joint venture partner and we are very happy and grateful that, despite difficult times in the building materials supply chains, we are still fully on schedule and will be able to complete and hand over the building before the end of this year,” said Stefan Mühling, Managing Director of die developer Projektentwicklung GmbH.

The landmark building has been designed with quality and sustainability in mind. Solar panels on the roof supply green electricity to the office tower’s common areas, 46 electric charging stations are available in the underground car park and there is a green bicycle garage (also with charging stations) plus green roof terraces.

The building is controlled using smart building technology. In addition to DGNB Platinum certification, DGNB Diamond status is being sought for the property’s outstanding design quality and contribution to the local built environment.

Union Investment was advised on legal matters by Clifford Chance and on tax matters by Heuking Kühn Lüer Wojtek. Die developer Projektentwicklung was advised on legal and tax matters by Noerr. Colliers and JLL acted as co-brokers.