DGAP-News: alstria office REIT-AG: alstria records substantial asset management success in Ditzingen/Stuttgart

DGAP-News: alstria office REIT-AG / Key word(s): Miscellaneous alstria office REIT-AG: alstria records substantial asset management success in Ditzingen/Stuttgart

28.07.2014 / 17:34

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Press release

alstria records substantial asset management success in Ditzingen/Stuttgart

- New 20-year lease with leading German DIY chain Hagebau

- Creating additional value from unused land

Hamburg, July 28, 2014 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces that it has agreed to develop a 10,000 sqm building on its asset Siemensstrasse 31-33 in Ditzingen near Stuttgart, which will be leased by an operator of the leading German DYI chain Hagebau.

alstria and Hagebau, one of the leading do-it-yourself stores in Germany, have agreed on the construction and long-term lease of a building supply store in Ditzingen. The lease contract will have a maturity of 20 years and is planned to start early 2016. alstria will develop the new 10,000 sqm do-it-yourself store making use of available land in Siemensstrasse 31-33, Ditzingen. The transaction was brokered by Ellwanger & Geiger Team Industrie und Logistikimmobilien.

The lease to Hagebau is alstria's second success for the asset in Ditzingen this year. In June 2014 the Company signed an early lease extension and a partial lease-up of vacant office space with the main tenant for the existing office building in Siemensstrasse 31-33. The new lease contract has a maturity of five years and comprises around 10,200 sqm of office and ancillary space, bringing the occupancy rate of the asset to 100%.

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DGAP-News: alstria office REIT-AG: alstria records substantial asset management success in Ditzingen/Stuttgart