CBRE Global Investors buys office building in central Munich

CBRE Global Investors, on behalf of one of its pan-European funds, has acquired an office building in central Munich.

The property, located in close proximity to Munich’s CBD and main railway and central bus stations, totals 18,000 square meters (194,000 square feet). It is fully let to a diversified tenant base.

The prime asset includes a basement, lower ground, five upper floors and a penthouse floor. There is a courtyard and underground parking with 159 parking spaces.

“The strong demand for office space in Munich combined with vacancy rates below 1 percent in the city center and the limited future supply makes this a rare investment opportunity. With strong upside potential combined with refurbishment and asset management initiatives, the property is well positioned to deliver on the investment requirements of the fund’s investors,” commented Sebastian Ehrhardt, head of transactions, Germany at CBRE Global Investors.

“Despite the current wor