AB European Real Estate Fund has secured a new 10-year lease for its multi-tenant office in Wiesbaden, Germany, this achieving an occupancy rate of 100% in this property.
The new tenant, Jugendhilfezentrum Johannesstift GmbH, will be using the premises to offer training classes to young people that left the “classical” school system, to help them re-integrate a school / university. Jugendhilfezentrum will perform some minor works in the premises before moving in early October 2018.
The tenant will rent a total area of 875 sqm office space on the first floor, as well as storage space in the basement and parking spaces. This additional new rental income represents 8% of the new total rent generated by the property in Wiesbaden.