DEMIRE relocates offices to Group property located in Langen near Frankfurt
Frankfurt/Main, 21. September 2016 – Frankfurt/Main, 21 September 2016 – DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) will relocate its offices in November 2016 from their current location in Frankfurt/Main to Langen near Frankfurt. The new leased property located at Robert-Bosch-Straße 11 is owned by a subsidiary of the subgroup Fair Value REIT-AG. The five-year lease agreement for the space consisting of roughly 1,200 m² increases the income-weighted occupancy rate of this property from almost 60 % as per June 30, 2016 to nearly 70 % of the achievable rents at full occupancy.
Markus Drews, COO of DEMIRE AG commented: “The space in Langen is a good fit for DEMIRE as a fast-growing holder of commercial property in secondary locations in Germany – modern, well-situated office property, attractive rents and comparably low trade tax rates. Not only that, but we also increase the occupancy of our own Group portfolio. Our relocating to a secondary location is in line with our strategy and, moreover, a sensible move”.