Adler Group S.A. (“Adler Group”) today announced the sale of the office property “Kornversuchsspeicher” to the Berlin-based construction management specialist BAL. Lübke Kelber exclusively advised Adler Group on the sale. The 2,330 square metre property is the only historic property in Europacity. In combination with the comprehensive design transformation, the “grain trial warehouse” represents an early example of a reinforced concrete skeleton building, a listed and at the same time modern landmark property.
“With the sale of the grain trial warehouse, we are handing over an architecturally striking and multi-award-winning property in Berlin’s Europacity. The building, which was awarded the German Architecture Prize in 2023, is of great importance for the urban development of this newly developed district of Berlin as the only surviving existing building in Europacity,” says Dr. Karl Reinitzhuber, CEO of the Adler Group. “This transaction is another milestone on the way to concentrating fully on our rental portfolio in the attractive Berlin market in the future and developing it further.”
“The sale of the ‘Kornversuchsspeicher’ makes it clear that there is a demand for such unique building types despite the current challenging office investment market. In this case, the decisive factor was the combination of a central location, modern furnishings and the architecturally high-quality historical appearance,” says Benno Fischer, Head of Transaction Berlin at Lübke Kelber.
The grain trial warehouse is located in the immediate vicinity of the water on the Westhafen Canal, which flows into the Spree at the end of Europacity. During the modernisation with an additional storey, great emphasis was placed on sustainable material and surface processing in order to combine the existing building and the structural addition in terms of design. At the same time, a comprehensive ESG concept was implemented, which focuses, among other things, on the reuse of building materials.
