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Berlin's Mitte neighborhood: The seat of Germany's government and where large companies are just as at home as startups and internet companies from all over the world. Credit Suisse Asset Management has acquired an impressive property here that embodies the office building of the future.
July 8, 2022
Photos: Industrial charm combines with state-of-the-art interiors and countless rest and recreation options. The former Post and Telegraph Office in Berlin has been transformed into an office building.
Berlin's economy is growing rapidly. After all, this metropolis on the Spree River offers a prime location for established companies, founders, and investors alike. Consequently, the market for office real estate is competitive. Credit Suisse Asset Management acquired a pioneering office property in this promising area. This historically rich location on Köpenicker Strasse is in particular demand. Divided by the Berlin Wall from 1961 to 1990, the street now connects the trendy neighborhoods in the popular Mitte and Kreuzberg districts.
The property, formerly the Post and Telegraph Office, is now the site of two fully renovated, landmarked brick buildings and a new seven-story building. The stunning architecture creates an inspiring workplace, while the property more than meets the ever-growing needs of its tenants and investors, in addition to providing maximum flexibility for different uses. There's ample room for collaboration and creativity in the 8,500 m2 office space.
The space inspires, motivates, and creates an identity. Tenants can enjoy ample opportunities for rest and recreation on the expansive rooftop terrace, numerous balconies, and two interior green spaces. The property is also setting sustainability standards, with PV systems on the three rooftops generating electricity for the building and reducing utility costs for tenants, while geothermal energy is used for heating and cooling.
Additionally, the project intentionally chose not to include an extravagant underground parking garage, and instead installed hundreds of bike racks and fancy showers and changing rooms. Based on these features and more, the building is applying for gold certification from the German Sustainable Building Council (DGNB).
Even with its state-of-the-art amenities, this commercial property has still held onto its industrial charm. The reconstructed brick walls of both brick buildings evoke the storied history of the site, and this juxtaposition of old and new helps make this building complex stand out from other office properties in the German capital. It comes as no surprise that the property is fully leased for the long term.
"It's a tremendous addition to our portfolio," enthuses Rafael Metternich, product manager at Credit Suisse Asset Management. "We were able to acquire a remarkable real estate property here. Our investors benefit from attractive returns and a promising investment, our tenants enjoy a one-of-a-kind office space, and it helps the environment, too."
Despite all of the benefits of working from home, many people are happy at the prospect of being able to return to the office. However, innovative working environments are needed to ensure that this positive attitude persists in the long run. The office must become a place where people feel comfortable and where working is fun.
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