Refurbished Campus STERNHÖHE Möhringen convinces new tenants

alstria has signed a new long-term lease for its property at Epplestrasse 225 in Stuttgart. The tenant will lease 7,900 square meters of office and ancillary space for a term of 10.5 years. The lease will start in the first half of 2023 and was brokered by Jones Lang LaSalle SE and reallocation commercial properties GmbH. 

Background
The STERNHÖHE campus covers a lettable area of 107,000 square meters and is located in the Möhringen district of Stuttgart. Built between 1987 and 1989, the campus already incorporated at that time substantial features that still make up the success of a modern work environment. An open architecture with generous recreational areas and flexible layout for the office buildings.

Still, alstria has been working on upgrading the existing facilities to enhance their attractiveness and to future-proof the asset. Each individual building will be revitalised in coordination with its tenant and furnished according to their respective needs. In addition, the outdoor areas are being revamped to offer generous spaces. Also, a wide range of service facilities such as day care centres, health services and gastronomy are being added to the service offer.

The retrofit of the STERNHÖHE campus is targeting green building certification, which will be complemented by alstria’s Low Carbon Design Principles to address climate change impact, which the green certificate fails to address.

alstria’s retrofit approach should avoid the emission of around 65,000 tons of carbon compared to an equivalent space in a new building. Tenants who will move to the STERNHÖHE campus will substantially reduce their overall carbon footprint while accessing a similar quality of space compared to a new construction. 

A total of 21,000 square metres have been let to prime tenants since the start of the campus retrofit. In 2022, three office buildings, representing a total area of 32,000 square metres, will start to be retrofitted. The rest of the campus will be further upgraded as soon as it is vacated by its current tenant. 

“The vision we have of a modern, open and sustainable campus has been vetted by a number of reputable companies, which have decided to locate on the campus,” says Felix Gronbach, Office Head Stuttgart at alstria office REIT-AG. “This new lease is another proof of the forward-looking environment we are creating. In a post-Covid world, we are convinced that tenants are looking for more than just four walls and a roof. Our approach at the STERNHÖHE Campus, as across all our properties, is to listen to the tenants and adapt the building to their unique specificities. Our aim is to deliver space in which the human capital of the company will not only work, but also be able to thrive.”

Investor Relations                                    
Julius Stinauer                                                   
+49 40 22 63 41 344                   
[email protected]

Press Contact                                   
Philip Angrabeit                                      
+49 40 226 341 389                   
[email protected]

Further Information 
www.alstria.com
www.sternhoehe.alstria.de
www.beehive.work
www.green-dividend.com
www.linkedin.com/company/alstria-office-reit-ag

About alstria

alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. As of September 30, 2021, the portfolio comprises 111 buildings with a lettable area of 1.5 million square meters and a total portfolio value of EUR 4.7 billion.

Disclaimer
This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria’s management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment – especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. 

alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.