Christoph Reschke, Managing Director at Hines Immobilien, said: “We are very pleased to have won Marc O’Polo as a highly attractive tenant. Just like Nespresso, the brand is an excellent fit for our property and its prime location. The two leasing successes in a challenging retail market is testament to our strategy that great buildings in prime locations will survive and thrive. In addition, we are conducting a series of talks for the leasing of the office space on the upper floor with the aim of achieving a suitable and sustainable user mix.”
Since taking over the asset management mandate, Hines has been working on the strategic realignment of the residential and commercial building. In particular, the changing retail requirements are being considered. The space, which was originally large and contiguous over several floors, has been divided into smaller units that can be used sustainably. Modernised space for office and residential tenants will be created on the upper floors. The property is part of a portfolio of a total of eight properties in Germany, Austria and France for which Hines has taken over the active asset management on behalf of an institutional investor.
The property is located in Austria’s most popular shopping street and the capital’s old city center. Apple and Swarovski, as well as many other well-known retailers, are in immediate vicinity. With the new opening, Marc O’Polo gains a coveted premium positioning and further expands its own distribution. The concept of THE SCANDINAVIAN STUDIO focuses on linear shapes and timeless colours, which, in combination with design elements, are intended to create a high-quality interior with a luxury approach.
Hines was advised by DPC Real Estate.