Allen & Overy Takes 97,000 SF in Proposed Opera Tower

Allan Saunderson is managing editor of Property Finance Europe and a contributor to GlobeSt.com.

FRANKFURT-International legal practice Allen & Overy have signed a long-term lease to take over about 87,000 square feet of floor space in the Frankfurt Opera Tower, developed and owned by US-based Tishman Speyer. The law firm will move into the Podium building immediately adjacent to tower and part of the development opposite the Old Opera House in downtown Frankfurt.

The deal, advised by Atisreal, is one of the largest agreements signed in Frankfurt this year and brings the Opera Tower’s pre-letting up to 75%, six months before the building’s completion. Markus Wiedenmann, Co-Head of Tishman Speyer in Germany, said this marks a positive sign for the Frankfurt real estate market. “This lease proves that high quality prospers, even in difficult financial markets such as these,” he said.