High office demand significantly increases peak rentals

Commerz Real reports full rental for its hausInvest property Palais at Jakobsplatz in Munich. Over the past seven months alone, 3,300 square metres were leased, of which around 1,100 square metres were leased to the OC&C strategy consultancy. It had moved to the fifth and sixth floors at the beginning of May 2025.

In total, the office and business building at Oberanger 34 - 36 in Munich’s old town offers around 5,000 square metres of rental space. in 2004, Commerz Real acquired the property in 2019 as part of the so-called Millennium portfolio for its hausInvest open-ended real estate fund. In addition to OC&C, the tenants include the fund and asset manager Columbia Threadneedle Investments, the furniture business Sit & Sleep and a pulmonologist.

As a result, for example, top office rents in Munich increased by 21 percent over the course of 2024, according to real estate agent CBRE. In addition to the Palais, the Munich portfolio of hausInvest includes 17 other properties worth around EUR 2.3 billion. These include Tucherpark in the Eisbach district, Seidl Forum and Karolinen Karree in Karlstraße, The Seven in Müllerstraße, Nymphenburger Höfe in Nymphenburger Straße, Visio commercial park in Landsberger Straße and various residential properties.

In 2019, the fund acquired the new “Nockherberg Noc 2.4” residential complexes on the former premises of the Paulaner brewery in Au and “Diamaltpark” in 2020 on the decommissioned premises of Diamalt AG in Allach-Untermenzing. Both include a significant proportion of publicly funded housing.