The office lives, grows and flourishes

• Strong demand for office space in FOUR
• Significant deals even in pandemic times
• T1 sets standards for early office letting

Frankfurt, 19th November 2020

Regardless of all the uncertainties about how things will continue with the COVID-19 virus, one thing is clear to the public: the office as we know it is a discontinued model; it will be replaced by the home office. This prognosis for the future enjoys great attention in most discussions, but does not fit in at all with the current experiences of Groß & Partner. The Frankfurt project developer is currently operating a major project of remarkable dimensions – even on an international scale – with great success: FOUR is an ensemble of four high-rise buildings located in downtown Frankfurt, which will reach a height of between 100 and 233 meters and offer a utilization mix of residential, hotel and office space.

“The pre-letting rate for the T1 is currently at an incredible 68% – and this at a time when we are in the middle of civil engineering and the majority of the project is not yet visible”, says Nikolaus Bieber, Managing Director at Groß & Partner, happily, adding: “It is remarkable that most of the deals for the 233-meter-high T1 have been concluded this year. Initially, the law firm Allen & Overy secured seven floors in the highest tower, and with Freshfields Bruckhaus Deringer another ten floors went to a prominent company in the spring. DekaBank signed a lease for ten floors in T1 in the summer. There is no end in sight: “We have recently been able to acquire another well-known tenant, which is a known internationally active consultant for around 7,300 square meters,” reveals Bieber. “This means that around two thirds of the office space in our highest tower has already been brokered.”

“This success tells me one thing: the office lives, grows and flourishes”, says Karolina Thoben, responsible for marketing the office space in the FOUR, with satisfaction. Office space, says Thoben, is nothing less than the DNA of a company. Even the current Corona pandemic cannot change the fact that office space will remain the central hub of corporate and social activity in the future.

A project such as FOUR only lasts if it has a promising future: “As project developers we can no longer afford to think only in terms of buildings,” says managing director Nikolaus Bieber, summing up his own actions. “Successful projects deal holistically with the needs of future tenants. It’s about more than just premises and their equipment standards. It is also about the surrounding neighborhood, mobility concepts, energy issues and also the quality of the communications infrastructure. As Groß & Partner we think and shape all these aspects.

The FOUR is the best example of this train of thought: it creates a new, attractive lounge in downtown Frankfurt, it connects two pulsating city districts with each other with the train station district and the Zeil and realizes a unique, lively mix of offers.