Back to News
BNP Paribas REIM has brought a new anchor tenant, WeWork, to Munich’s Art Deco Palais. The USbased company has signed a long-term lease for space at the property. With this latest lease, the Art Deco Palais is now fully let.
The property’s central location and excellent access to public transportation were decisive in the new tenant’s decision to go with the location. WeWork provides its clients with co-working space and offices centrally located in key business hubs. WeWork previously had its Munich location at Oskar-von-MillerRing. By moving to Arnulfstraße, the company will be expanding its space offer considerably.
The Art Deco Palais was designed in 1924 by architect Robert Vorhoelzer as a regional post office administration building and is considered one of the few examples of classical modernism in Munich. The building was extensively renovated and refurbished in 2007 through 2010, bringing the property up to modern office standards and creating flexible rental unit options. The property encompasses around 41,000 sqm of total rental area and is currently home to 30 tenants. BNP Paribas REIM Germany originally purchased the office property on Munich’s Arnulfstraße in early 2015 for one of its special real estate funds for institutional investors.