GORE German Office Real Estate AG ("GORE"; ISIN DE000A0Z26C8), a real estate investor focused on commercial real estate primarily in German metropolitan areas, has achieved an important leasing success at an office complex in Neu-Isenburg near Frankfurt am Main. GORE concluded a new ten-year lease agreement with the main tenant ARAMARK Holding Deutschland GmbH ("ARAMARK"), expiring in January 2030. ARAMARK occupies nearly 4200 square meters of space in the 15,882 square meter office complex, as well as 60 parking spaces. The average remaining lease term in the property (WALT) increases from 3.4 to 8.2 years as a result of the leasing success. The main tenant is an international service company operating in the catering, gastronomy, and service management sectors. Internationally, ARAMARK Corporation is one of the leading companies in the catering and facility management sector and is represented in 19 countries with currently around 270,000 employees.
The office complex, built-in 1993, is located at an attractive commercial site in Neu-Isenburg in the immediate vicinity of Frankfurt am Main and Frankfurt Airport and has excellent transport links to the freeway network. The complex consists of a total of three five-story building sections with office and warehouse space. The office complex also includes 192 garages and 23 outdoor parking spaces.
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The GORE German Office Real Estate AG ("GORE") is a dynamically growing real estate investor with a focus on office properties in German conurbations. Using a manage-to-core approach, GORE acquires properties in preferred locations below market value wherever possible in order to sustainably enhance their value. Investment activities focus on properties with a market value of between EUR 1 and 15 million. Compared to other property sizes, this size class offers a less competitive market environment in terms of purchasing according to GORE estimates. GORE's aim is to generate above-average value enhancement and return potential along the entire value chain, from acquisition through management to sale, together with its partners. The volume of the real estate portfolio is expected to be multiplied by acquisitions in the coming years.
Release ID: 17358