GSK Stockmann | View firm profile
A GSK Stockmann team led by Munich partner Dirk Brückner provided comprehensive advice to Siemens Real Estate on the sale of the office building “The Move Blue” in Frankfurt. Comprising approximately 24,400 sqm of lettable space, this major sale-and-leaseback transaction brokered by CBRE and BNP Paribas Real Estate was one of the largest in the city in 2024. The building, which is located near the airport and is home to Siemens’ Frankfurt office, has been sold to Strabag Hold Estate.
Siemens completed the building together with its counterpart, “The Move Orange”, in 2023 as part of an office complex in Gateway Gardens, a commercial district located in the immediate vicinity of Frankfurt Airport. The parent company Siemens moved in as the main tenant, with its Frankfurt branch occupying approx. 15,000 sqm of space. Only around 2,000 sqm are currently available, as all other office space is let on long-term leases.
The entire “The Move” complex is LEED Platinum, DGNB Gold and GRESB certified and is fully accessible. The transaction was brokered by CBRE and BNP Paribas Real Estate. Legal advice was provided by Ashurst and GSK Stockmann. The transaction was completed in 2024.
Advisers of Siemens Real Estate at GSK Stockmann:
Transaction advice was provided by a team led by partner Dirk Brückner (real estate transactions and investments) consisting of Nadine Wachendorf (asset management), Katharina Feierabend (real estate transactions and investments), Stefan Dorn (project development and construction law), Kerstin von Staa (public construction law) and Stephan Wachsmuth (tax).
Advisers of Strabag Hold Estate:
Ashurst (Liane Muschter & team)
