IVG’s $1.1B Airrail To Open at Airport

FRANKFURT-The giant 1.5-million-square-foot office and mixed-use complex Airrail, being developed by German listed group IVG next to Frankfurt Airport, is due to open in October after a number of delays. The Bonn-based group intends to move much of its own activities into the structure that many compare to an ocean liner in shape.

Gerhard Niesslein, IVG CEO, said leasing of Airrail is now accelerating after a sluggish start and some 62% of the office space has been pre-leased. Marketing is picking up momentum after IVG formed a team to service the facility, headed by Kirsten Hennig. Among IVG operations being moved to Airrail is the company’s fund management operations, currently working out of nearby Wiesbaden, as well as Niesslein’s own executive office.