EPCOS opts for long-term lease at "Media Works Munich"
- Rental agreement for about 34, 000 m2 signed and sealed
- Occupancy rate at business park on Rosenheimer Strasse/Anzinger Strasse consistently high
The "Media Works Munich" business park is set to remain home to about 1,400 employees of EPCOS plant in Munich. The company has concluded a new rental agreement with the owner IVG and will continue to use around 34,000 square metres of office, production and storage space at the complex near Munich's Ostbahnhof station. Thus, EPCOS AG as a part of the Japanese TDK Group remains by far the biggest tenant at the business park between Rosenheimer Strasse and Anzinger Strasse.
The plant on Anzinger Strasse is the global centre of excellence for EPCOS high-frequency filter products for mobile communication applications. Here, the company develops and produces key electronic components for automotive electronics as well as for smartphones, notebooks and wearables. Production in Munich is mainly focused on high-tech manufacturing in cleanrooms, where metal structures are manufactured on wafers in the sub-micrometre range.
"We are delighted that our longstanding partnership with EPCOS is to continue", said Wolfgang Resch, the Head of Asset Management at IVG Immobilien AG responsible for the South region, appreciating the deal. "Securing this important tenant for the long term proves again the appeal of our business park and makes it even more attractive. It is already an highly popular location for more than 100 companies, providing an occupancy rate consistently well above 95% to IVG."
The "Media Works Munich" business park is part of IVG's strategic property portfolio, comprising about 100 properties in the top 6 office locations and further metropolitan areas in Germany. As of 31 December 2015, the portfolio show a value of approximately EUR 3.2 billion. IVG Immobilien AG intends to hive off this strategic core portfolio into a new company and establish its capital markets’ ability in the course of 2016. as a result, IVG Immobilien AG is envisaged to operate as a pure financial holding company.
IVG Immobilien AG
The strategic core business of IVG Immobilien AG is the acquisition, management, purchase and sale of office properties in Germany. It is one of the largest office property companies in Germany with its own portfolio worth more than EUR 3 billion. Its operating business is geared towards profitable management and needs-driven optimisation in addition to active portfolio management, with the aim of achieving sustainable added value in its own property portfolio. In addition to this core business, IVG Immobilien AG has commercially independent equity investments in a service provider for structured property products for institutional investors (TRIUVA Kapitalverwaltungsgesellschaft mbH) and a company that builds, operates and leases subterranean oil and natural gas repositories (IVG Caverns GmbH).