The international law firm Herbert Smith Freehills LLP has signed a long-term rental contract for around 3,400 square meters of new office space in the Marienturm. The company plans to relocate from its previous site in Frankfurt to the Marienturm with around 100 employees at the end of 2022.
“With Herbert Smith Freehills, another international law firm has opted for a top location in the CBD and the high quality afforded by the Marienturm office premises. We are seeing how a new cluster of law firms is forming here in the heart of the CBD and are delighted that the Marienturm is playing a central role in this development,” explained Markus Brod, Managing Partner of Pecan Development, after the closing.
“With the lease of the Marienturm, we are emphasizing our ambitions to develop our firm in Germany and are providing our entire team with a high-quality, future-oriented work environment,” added Dr. Nico Abel, Managing Partner Germany at Herbert Smith Freehills LLP.
Alongside the new lease, project developer Pecan Development and investor Aermont Capital are also pleased about the expansion in the Bank of America Europe DAC rental. The well-known financial company has already moved into its new premises in the Marienturm and has just recently expanded by 700 square meters to now lease three floors in total. Prior to this, another global financial company, investment bank GCA Altium, also concluded a long-term rental contract for the 27th floor of the Marienturm and with approx. 60 employees will relocate there at the end of this year.
With the recently agreed deals, the Marienturm has now achieved an occupancy rate of 80 percent, according to the owner.
Henning Richter, Managing Director at Aermont Capital, explains: “The new agreements prove that the Marienturm with its flexible communication spaces, high-grade technical fit-out, modern office concepts and hospitality offerings represents the working world of the future and strikes precisely the right tone for the times […].“