WeWork to Create Germany’s Largest Collaborative Community at Potsdamer Platz in Berlin

  • Global leader in community-oriented workspace leases 14 floors with a total of 13,000 square metres at Eichhornstraße 3
  • One of the largest lease signings on Berlin’s office real estate market this year to date
  • Office occupancy rate at Potsdamer Platz now exceeds 93 percent

Berlin, 04 December 2017 – The US-based company WeWork just leased 13,000 square metres in the Potsdamer Platz quarter in downtown Berlin. The lease was signed for the premises between the 7th and 21st floor of the building at Eichhornstraße 3. Following the build out to convert the offices in the company’s signature design, occupiers will move in during the summer of 2018. This will create Germany’s most extensive collaborative workspace at Potsdamer Platz.

For the real estate market, the WeWork deal has a signal effect. As one of the largest lease signings on Berlin’s office real estate market in 2017, it demonstrates the persistently growing appeal of Berlin as business location. “Potsdamer Platz will be an amazing addition to our seven branch locations in Germany. The premises at Eichhornstraße fully meet our requirements in accommodations: convenient accessibility in a central location, an attractive architecture, plus an urban environment that features a rich variety of leisure and shopping venues. This is why we aim to maintain a long-term presence with our concept at Potsdamer Platz,” said Patrick Nelson, Managing Director of WeWork Europe. On the one hand, WeWork estimates that the demand for flexible and creative workplaces will keep growing. On the other hand, established companies seek to touch base with innovative think tanks, and therefore actively take membership in collaborative workspaces to foster the exchange with young companies. As Potsdamer Platz offers top-notch synergies for either purpose, the company feels it will help make Work 4.0 a business reality.

So far, WeWork has operated four locations in Berlin as well as one location each in Frankfurt and Hamburg.

“With WeWork in place, Potsdamer Platz will solidify its position as the hub for young creative media professionals in Berlin. In combination with existing start-ups and established large corporates, we have an attractive tenant mix that reflects the urbanity of the entire quarter,” explained Karl L. Wambach, Senior Vice President of asset manager Brookfield Properties Germany.

The transaction pushes the office occupancy rate around Potsdamer Platz beyond the mark of 93 percent. In January 2016, when Brookfield assumed the management of Potsdamer Platz, the occupancy rate stood at 53 percent. The letting performance since the start of 2016 therefore implies an office take-up of around 50,000 square metres.

 

Press contact:
Dr. Ulrich Nagel
Tel. +49 30 28 44 987 63
Lutz Ackermann
Tel. +49 30 28 44 987 66
RUECKERCONSULT GmbH
potsdamerplatz[at]rueckerconsult.de