CA Immo Completes Sale of ZigZag Office Building in Mainz
Frankfurt/Vienna, 04. December 2023 - CA Immo has successfully completed the sale of the ZigZag office building in Mainz. The sale has been closed in excess of book value as of 30 June 2023.
Keegan Viscius, CEO of CA Immo: “Despite the challenging market conditions we are pleased to have closed the sale of ZigZag, at a price in excess of last reported book value, thereby concluding a financially successful development by CA Immo. With this sale we continue with our strategic objective to divest sub-scale assets in non-core markets, and to concentrate the portfolio on modern A class office predominantly in Berlin, Munich, and Frankfurt.”
CA Immo completed the development of the ZigZag office building in 2021, the building is located on the northern harbour basin of the Zollhafen Mainz quarter. It comprises a total of around 4,600 sqm of rental space on six floors and is almost fully let.
CA Immo was advised on the sale by Noerr Partnerschaftsgesellschaft mbB, Mazars GmbH & Co. KG and Colliers International Deutschland GmbH.
Address: Inge-Reitz-Straße 5-7, 55120 Mainz
Building type: Office building
Floors: 6 (above ground)
Leasable area: approx. 4,600 sqm
Contracted Occupancy: 99 %
Contracted In Place GRI: approx. 1 million €
Pictures of the ZigZag can be downloaded from the picture archive in the Press section at www.caimmo.com with the keyword "ZigZag" or from this link.