White & Case signs long-term lease at CENTRAL PARX in Frankfurt

ABG Real Estate Group and HanseMerkur Grundvermögen have secured a major leasing success for their CENTRAL PARX development in Frankfurt am Main. International law firm White & Case has signed a long-term lease as an anchor tenant, occupying all office spaces within the STUDIO and PAVILLON buildings, totaling at least 11,670 square meters. The firm also holds additional options for the remaining spaces in the TOWER. The 15-year lease agreement includes modern office spaces, 100 car parking spots, and 100 bicycle spaces.

This lease marks a significant milestone in the repositioning of CENTRAL PARX. With over 85% of the project pre-let at the start of construction, ABG Real Estate Group has opted to forgo its initial plan to self-occupy the PAVILLON. White & Case, a globally recognized law firm, is currently based nearby on Bockenheimer Landstraße, a location originally developed by ABG Real Estate Group.

CENTRAL PARX, an iconic three-part building complex situated at Bockenheimer Landstraße 10, comprises the TOWER, STUDIO, and PAVILLON, offering a total rental area of approximately 25,650 square meters. The extensive refurbishment of this historically listed property is already underway. Deconstruction and gutting work commenced at the end of 2024, with vertical construction set to begin in late summer 2025. Completion is scheduled for early 2028.

Ulrich Höller, Managing Partner at ABG Real Estate Group, highlighted the significance of this agreement: “Securing White & Case as a top-tier tenant and achieving such a high pre-letting rate at the start of construction underscores the exceptional quality of the CENTRAL PARX project. It sets a new benchmark for modern and sustainable workplaces in one of Frankfurt’s most prestigious locations.”

Malte Andes, Deputy CEO of HanseMerkur Grundvermögen, echoed this sentiment: “This lease agreement with one of the world’s largest law firms affirms the sustained demand for premium office properties in prime urban locations. The superior quality and strategic location of CENTRAL PARX make it highly attractive to leading international tenants.”

Karsten Wöckener, Head of Germany and Partner in the Global Capital Markets Practice at White & Case, expressed enthusiasm about the move: “We are delighted to have found a sustainable, future-ready location in Frankfurt with CENTRAL PARX’s PAVILLON and STUDIO. This historically significant complex, located in a prime area, aligns perfectly with our firm’s values and legacy. As we celebrate the 25th anniversary of our merger with the global White & Case, this move reflects our commitment to providing a modern and dynamic workspace that fosters collaboration and growth.”

CBRE and Hauck Schuchardt advised on the transaction.