HIH concludes lease agreements for 3,800 square metres in Munich

HIH Invest Real Estate (HIH Invest) has acquired two new tenants for the Balanstraße 73 property in Munich: Sunbloom Proteins GmbH is moving into 343 square metres, while a renowned law firm is renting 944 square metres plus a terrace section. The food manufacturer already moved into the space in March. The law firm plans to move in in autumn 2024 and has signed a 15-year lease. HIH Invest manages the property for an open-ended special fund of an institutional investor.

The two new tenants are moving into space previously occupied by Sony Music Entertainment GmbH. The music group had extended its lease early by five years and will occupy 2,520 square metres of rental space in future. Sony Music relocated its headquarters from Munich to Berlin in 2020.

Sony Music was one of the first occupants of the building at Balanstraße 73, which was completed in 2014 and acquired by HIH Invest in the same year. The property, known as ‘Haus 31’, has a total gross floor area of around 17,000 square metres and is located on the ‘neue balan - Campus der Ideen’, the former Infineon research and production site. The building fulfils the LEED Gold standard due to its energy efficiency. The campus borders the districts of Haidhausen, Obergiesing and Ramersdorf and is conveniently located close to Ostbahnhof and the Mittlerer Ring.

‘We managed to re-let the space returned by Sony within six months. This proves how popular the Balanstraße 73 location is. On the one hand, the property scores points for the high quality of the building and, on the other, for its good location in terms of infrastructure with local amenities, leisure and restaurants as well as transport links. The innovative Werksviertel district is located in the neighbourhood. It also demonstrates the efficiency of our letting management, which has an excellent network in the Munich rental market and was able to successfully place the space on the market,’ commented Carina Orthen, Head of Letting Munich at HIH Real Estate.

The tenants were brokered by Stock Real Estate, which is also based at the ‘neue balan’ campus in Munich.