Coros has concluded a significant rental contract for its life science campus located at Nahmitzer Damm 12 in Berlin. In this long-term deal, the German Institute for Federal Real Estate (BImA) has acted on behalf of the German Federal Institute for Risk Assessment (BfR). The BfR, which already has other premises nearby, will rent approx. 10,400 sqm in Corosâ life science campus.
The rental contract covers two separate building parts: The first approx. 3,700 sqm comprise the remaining space in the existing Nahmitzer Damm building, which Coros acquired in 2019 as one of its first investments for its Commodus Deutschland Fund II ScSp, RAIF. This latest deal means the building is now fully leased. Coros has undertaken significant modernization work at the site, transforming the building into a multi-tenant property with a flexible layout, canteen, and outside green spaces. Access to nearby public transport has also been improved thanks to a new path design.
The remaining 6,700 sqm relate to a new build element that Coros is constructing on behalf of BfR right next door to the existing building. This new space will be a modern mixed-use life science property with laboratories. Construction work is due to start in spring 2023 and Corosâ projected completion date is summer 2024. Architecture studio HENN, which specializes in laboratory buildings, has been appointed to draw up the master plans.
âIn the German Federal Institute for Risk Assessment, weâre delighted to have secured such a renowned tenant and fantastic partner for realizing our vision for our life science campus. This deal confirms that we are taking the right approach to our asset management by applying new future-proof use concepts to leverage unused potential. We are working in close partnership with our tenants to develop the right room layout and facilities, so they can achieve their goals and plans in the best possible way, both today and in the long termâ, explains Paul Sattlegger, Managing Director with responsibility for asset management at Coros. âWherever possible, we are using refurbishment projects and smart urban consolidation initiatives to unlock potential and open up new usage opportunities. This approach enables us to extend the life cycle of existing buildings and prevent large amounts of urban space being lost to new builds. In short, it promotes the sustainable development of our urban spaces.â
