Aviva Investors acquires Rotebühlstrasse 121 building in Stuttgart
Aviva Investors, the global asset management business of Aviva has acquired Rotebühlstrasse 121, an office building located in Stuttgart, on behalf of one of its clients.
Built in 1994, Rotebühlstrasse 121 offers 14,750 sq m of flexible office space and high-quality lettable premises. It is located in the centre of Stuttgart in front of the S-Bahn station Schwabstrasse, providing easy access to both Stuttgart main station and the airport, whilst being just three minutes’ walk from the renowned Feuerseeplatz. The property is fully let to several high-quality corporate tenants.
Stuttgart was identified by Aviva Investors as being one of the top European cities for long-term rental growth prospects, as part of its research into the most promising office markets and tech hubs across the region.
Grégoire Bailly-Salins, Head of Transactions Continental Europe, says: “Stuttgart is a city with strong knowledge-intensive business activity and demographics, coupled with some significant constraints on new development, putting a hard limit on the office supply. We believe this will lead to sustained rental growth in the long run, with assets such as Rotebühlstrasse 121. We are pleased to grow our investment footprint in Germany, on behalf of our clients, which remains a strategic target market for us.”
In this transaction, Aviva Investors was advised by Colliers, DLA Piper and CBRE. The Seller was advised by BNP Paribas Real Estate and GSK Stockmann.