• Building ideally suits A&M's expansion plans
• Long-term lease agreement for 12 years
• Allianz für München and ABG Real Estate Group discussed with high-ranking cit
Munich, April 26, 2024 – The American consulting firm Alvarez & Marsal (A&M) is expanding its German headquarters, which it moved into in March 2024, in the newly revitalized residential and commercial property FRANZ in Munich's city center (Sonnenstraße 20). This secures all office space of the building, totaling 4,100 sqm. ABG Real Estate Group had already leased approximately 3,000 sqm to A&M shortly after the topping-out ceremony of the project development in May 2023. A&M occupied its new premises in March 2024 after customizing and furnishing the spaces according to its own design.
In addition to the office spaces designed according to an innovative New Work concept, the company will also utilize the generously sized outdoor areas in the courtyard, as well as car parking spaces and attractive bicycle storage areas in the basement, along with storage spaces. The office spaces span from the ground floor to the fifth floor in the front and rear buildings. The expansion spaces, which A&M will lease from December 1, 2024, account for approximately 1,200 sqm. Combined with exclusive apartments on the top floors six and seven, FRANZ offers a total rental area of around 5,000 sqm.
Ulrich Höller, Managing Partner of ABG, stated: "In modern terms, one could say it's a perfect match. Supply and demand simply align because our first-class and contemporary property meets the requirements of the renowned international consulting firm A&M for a modern, sustainable, and flexible working environment. We are grateful for the trust placed in us by our tenant – especially for the partnership we share."
Jürgen Zapf, Co-Head Germany and Managing Director at Alvarez & Marsal, added: "The already leased spaces in FRANZ immediately convinced us, and we feel very comfortable in our new headquarters. Due to our continuous growth, it was obvious for us to access the still available office spaces that perfectly match our needs and to commit to them in the long term. We look forward to the two additional floors in the thriving Sonnenstraße."
High-profile Discussion Round at FRANZ on Munich City Center Concept
Yesterday, FRANZ hosted an event with high-ranking representatives from the city of Munich and notable experts. ABG Real Estate Group and the 'Allianz für München' discussed on-site with Prof. Elisabeth Merk, City Planning Officer, Clemens Baumgärtner, Economic Affairs Officer, and around 100 attendees about the redesign of Sonnenstraße between Karlsplatz and Sendlinger Tor and its significance for urban development. The street is planned to be free of individual traffic in the future and equipped with greenery and outdoor gastronomy.
Namesake Monaco Franze
ABG Real Estate Group acquired the existing property, known from the cult series "Monaco Franze," in close proximity to the famous Stachus in September 2021, together with pension funds as joint venture partners. Construction work began in spring 2022. In line with a good CO₂ balance, the existing seven-story building from 1953 was not demolished but gutted and revitalized to the highest environmental and quality standards, complemented by a glazed three-story new building in the green courtyard. FRANZ offers its users a total of 5,000 sqm of highly flexible spaces, providing space for living and working in the heart of the city.
Further FRANZ Project Details:
The project name "Franz" is inspired by the 80s TV cult series "Monaco Franze – the Eternal Playboy." The building gained nationwide fame as the filming location of Monaco Franze's detective agency. Until 2020, it was used as a residential and commercial building with increasing vacancy. ABG Real Estate Group acquired the existing property in September 2021, together with pension funds as joint venture partners, vacant and gutted.
The main building consists of seven floors including the ground floor and a basement. On five floors, it now offers individually customizable spaces with all possibilities for New Work. On the upper two floors, there are eight light-filled apartments with a unique view over Munich and the Alps. The ground floor houses a high-quality entrance area and variable conference spaces. The building impresses with a roof terrace on the first floor and a variety of balconies, and towards Sonnenstraße, a new high-quality facade made of sandstone-colored travertine with a dark base floor area. The previously above-ground parking spaces were moved to the basement and equipped with electric charging facilities. 22 bicycle parking spaces, including 10 with electric charging facilities, complete this area.
The main building is complemented by a fully glazed, minimalist new building. This offers bright office spaces on three floors at the highest level with floor-to-ceiling windows facing the green courtyard.
The construction was supervised by the Munich architecture firms Wolfgang Scherer Architekten and Schemmel Architekten. FRANZ is certified according to WiredScore and the BREEAM sustainability standard.
