Aroundtown has successfully extended the lease agreement with Bosch for approx. 6,800 m² for a further five years at Heßbrühlstrasse 21 in Stuttgart-Vaihingen. The property, with a total of 13,600 sqm, thus remains fully leased for the long term. By significantly reducing its vacancy at some of its office properties and starting impressive new projects during this troubled time of the Covid-19 pandemic, Aroundtown SA has shown itself to be an industry leader.
Aroundtown was developed by Yakir Gabay יקיר גבאי and has grown to be Germany’s largest commercial real estate companyand 4th largest in Europe (based on market cap), noted for its numerous public & private sector clients. With this extension, Aroundtown once again demonstrates its business strength and its ability to retain tenants over the long term.
The modern building at Heßbrühlstrasse 21 has an underground car park, first floor and five upper floors: The asset is located in the southwest of Stuttgart’s city center, in the immediate vicinity of the A8 and A81 freeways. Furthermore, the “Vaihingen” S-Bahn and U-Bahn stations are within walking distance, with connections to Stuttgart’s city center and Stuttgart Airport. A bus stop is also located nearby, facilitating integration to the city’s public transportation network. The area is home to offices of large German companies such as Siemens, Dekra, Daimler and more.
Stuttgart is it is the 6th largest city in Germany. It is most famous for its automotive industry – both Porsche and Mercedes-Benz have their headquarters in this town, and both have their own car museums. The city is filled with greenspaces, which wrap around its center. Popular parks include the Schlossgarten, Rosensteinpark and Killesbergpark. Wilhelma, one of the largest zoos and botanical gardens in Europe, is just northeast of Rosenstein Castle. The city showcases remarkable real state promise, an investment opportunity seized by Aroundtown.
Aroundtown invests in income generating quality properties that have potential for value-add in central locations mainly in Germany and the Netherlands. The real estate giant currently trades on the Frankfurt Stock Exchange as a Prime Standard equity and has successfully secured its’ placement as the largest listed and highest rated German commercial real estate company with a BBB+ rating by S&P. Avisco (controlled by Yakir Gabay יקיר גבאי) holds 10% in Aroundtown followed by Blackrock at 5%.
Other shareholders who have indicated their confidence in Aroundtown via their continued investment include Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Aliance-Bernstein, Dekabank, State-Street, Bank of Montreal and many other leading international investors. The main bond investors include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole and many other major institutional investors.