News Detail - DIC Assets

DIC Asset AG leases 7,400 sqm long-term to the City of Offenbach's 'MainArbeit'

DIC Asset AG / Key word(s): Miscellaneous

16.06.2011 / 11:59

DIC Asset AG leases 7,400 sqm long-term to the City of Offenbach's 'MainArbeit'

DIC Asset AG (WKN 509840/ ISIN DE0005098404) and the job centre 'MainArbeit', a subsidiary of the City of Offenbach, have now signed a lease for around 7,400 sqm in total with a term of 17 years as part of its 'Trio' property. This is the most important lease signed in Offenbach since 2007.

Starting in autumn 2011, DIC is to undertake extensive renovation work on the striking curved building situated on Offenbach's central axis on Berliner Straße to bring its infrastructure up to date. MainArbeit is to rent the building's full 5,200 sqm of floor space from the end of 2011. A further 2,200 sqm are to be created by early 2013 in a new building to be constructed directly adjacent to the existing one. This additional space will also be handed over for use. The architects msm Architekten based in Frankfurt and Cologne are responsible for planning the development.
In the long term, new building sections are to be constructed on the rest of the site between Berliner Straße, Luisenstraße and Bahnhofstraße, allowing more vibrant use to be made of the district as a whole. The existing structures are scheduled for demolition in late 2012. By renovating an existing building and rebuilding as well as demolishing other structures, with the 'Trio' property DIC and the City of Offenbach are creating added value in terms of urban development for this gateway area to the city on Berliner Straße.

Horst Schneider, Mayor of the City of Offenbach: 'We are pleased to be able to give the staff at MainArbeit modern, attractive offices that they will shortly be able to move into. At the same time, the value of what is a key area in urban planning terms is being increased.'

Letting is being arranged via DIC Onsite, which is responsible for operational property management. The Frankfurt branch of DIC Onsite currently manages about 60 properties covering total commercial space of approx. 420.000 sqm in the Rhine-Main area. DIC acquired the site and its buildings from the insurers AXA Group and DBV Winterthur in 2007 as part of a EUR 320 million portfolio transaction covering a total area of 182,000 sqm.

Further information about DIC Asset AG can be found on the Internet at

About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in Frankfurt/Main, is a real estate company with a dedicated investment focus on commercial real estate in Germany, pursuing a return-oriented investment policy. Real estate assets under management currently amount to approx. EUR 3.2 billion, comprising around 290 properties. The portfolio is divided into three segments: the 'Core plus' portfolio includes the proprietary portfolio held on a long-term basis and offering stable, attractive rental yields. The 'Value-added' portfolio contains real estate with promising performance potential over the medium term. The 'Co-investments' segment portfolio comprises minority stakes in supplementary real estate sectors, including opportunistic investments, project development as well as the Funds business area, where we invest in first-class core real estate. DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company's shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies.

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Language: English Company: DIC Asset AG Eschersheimer Landstr. 223 60320 Frankfurt Deutschland Phone: +49 69 9454858-0 Fax: +49 69 9454858-99 E-mail: Internet: ISIN: DE0005098404 WKN: 509840 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart  
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