Die GEG German Estate Group AG, Frankfurt, is about to kick off the marketing drive for its “Global Tower” project, which involves the conversion of the former Commerzbank tower at Neue Mainzer Strasse 32-36 in Frankfurt that the company acquired from Commerzbank in November 2016.
GEG will completely strip out the building before fully remodelling and repositioning it as exclusive “Global Tower” on Frankfurt’s office market. Construction measures will start in summer 2018, and are scheduled to conclude by summer 2020. The total investment volume will add up to nearly EUR 270 million.
The gross lettable area of more than 33,000 sqm is spread across the 30 storeys above the ground floor. The New-York-style lobby with its 9-metre ceiling is accessible via entranceways on Neue Mainzer Strasse and Grosse Gallusstrasse. The ground floor is taken up by restaurants and event venues as well as retail units. The three upper floors of the base building provide up to 2,230 sqm of lettable area. In addition, the fourth floor features a rooftop terrace. The tower’s regular floor plates provide up to 1,000 sqm each. The 25th floor is home to a skyline terrace with a breath-taking view across the city. Between October 2017 and the start of construction work next year, the well-known men’s apparel store ABACI will operate a pop-up store in the generously decorated ground floor of the “Global Tower” that will include business premises and retail areas.
ULRICH HÖLLER, CEO of GEG: “As a classic high rise, Global Tower is a building of special character that satisfies any requirements the modern international office community might have. We anticipate strong demand, especially by the international business community. It will be generated both by the growing shortage in large-scale accommodation upward of 10,000 sqm and by the extra demand that the Brexit has triggered.”
REMINDER: PLANS TO REPOSITION CLASSCI OFFICE TOWER IN FRANKFURT
Based on plans by the architectural firm msm meyer schmitz-morkramer Architekten, GEG will strip out the vacated building before creating flexible office layouts with excellent state-of-the-art specifications for multi-tenant use, and completely overhauling the listed façade. For the interior decoration and design elements, msm Architekten brought the renowned Frankfurt-based interior designer Oana-Erica Rosen aboard. By implementing the latest sustainability guidelines, it is planned to seek a “Platinum” green building certification for the former administrative building.
Built in 1974 on behalf of Commerzbank, the building with its characteristic timeless architecture was among the first high-rises to be constructed in Frankfurt, and because of its historic significance, it has since been granted heritage protection. It was designed by architect Richard Heil in the International Style. Its central design elements, such as its monochrome hues, the cube-like basic corpus, and the window fronts arranged in horizontal strips, call to mind several classic towers, such as the famous Seagram Building by Mies van der Rohe or the Toronto Dominion Centre. These elements will retain their structural significance in the repositioned building.