LaSalle Investment Management has agreed to acquire an office building in Hamburg, Germany, on behalf of the Encore+ fund. The property, Economic Quarter, is located in City South, the city’s second-largest office submarket.
Economic Quarter is a newly refurbished, highly visible office spread across 28,000 square meters (301,389 square feet) and 10 floors. It also comprises a showroom for Mercedes Benz.
City South is currently one of the fastest developing submarkets in Hamburg and is emerging as a major business location, attracting a wide range of companies from the financial, consulting and IT sectors as a headquarters location. The overall quality of the market has also profited from recent large-scale residential developments.
“I am delighted that we have agreed to acquire the Economic Quarter, which fits well within Enco
