MainOffice sees its value boosted during a major transformation of the submarket

MainOffice Offenbach
In metropolitan markets, distortions in the valuation of commercial properties occur time and again due to the redevelopment of entire neighbourhoods, which often takes years. MainOffice is a clear example of this. Due to the extensive redevelopment of the Kaiserlei Business Park, the true value of the building was concealed for a long time. We were awarded the mandate to reverse this trend.

The property

MainOffice is an architecturally modern office classic in the Kaiserlei Business Park, on Offenbach's city boundary with Frankfurt. Due to its considerable flexibility in terms of layout and floor-plan design, it optimally satisfies the specific requirements of larger corporates. The efficient floor plan of the building over six floors, with areas ranging from approx. 3,204 sqm to approx. 4,971 sqm, can be divided into up to five units per floor, opening up an abundance of letting scenarios. There are two entrance areas, a canteen and meeting rooms on the ground floor.
In addition to its prominent and eye-catching position alongside the A661 motorway and thereby optimal accessibility within the urban area itself, to the motorway and to the efficient S-Bahn urban rail network, the building offers a high specification fit-out and a modern look and feel. The redevelopment of the Kaiserlei roundabout (2017-2021) will encourage further development of the submarket.

Facts & figures

Property name MainOffice
Address Kaiserleistrasse 10 in 63067 Offenbach
Submarket Kaiserlei
Asset class Office
Year of construction 2004
Lettable area 28,000 sqm
Risk category Value-add
Seller DEKA (2017), Investa (2019)
Buyer Investa (2017), PGIM (2019)
Activities Sell-side mandate (2x), (in combination with AM)
Mandate period 2017, 2019
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The challenge

Due to its comparatively small size and negligible contribution to activities in the letting and investment markets, the Kaiserlei submarket had a negative reputation. As a result, it did not attract sufficient investor interest. Moreover, a positioning of the submarket was difficult due to the ongoing major reconstruction of the Kaiserlei roundabout.

The redevelopment of the Kaiserlei submarket began in 2017 and was forecast to continue until 2021. In the course of our mandate, we had to support the visibly dramatic change with a positive outlook on the result. In our opinion, it was not only the excellent building fabric of MainOffice which was undervalued, but the submarket itself. We were able to effectively prove this to be the case.

The tools

Map, micro location

Map, macro location

Investment Memorandum

The result

Building Value: The positive results from investment advisory for MainOffice

Oceans and company mainoffice titelbild
    • Conclusive presentation of the undervaluation of the property
    • Explanation and analysis of the development potential of the submarket
    • The result was the completion of two sales processes within an 18-month period, high customer satisfaction and a value uplift of over 60%
The sales process revealed new prospects for MainOffice. Within 18 months we accompanied two sales processes and achieved a value uplift of 60%.