Successful placement and strategic repurposing: Originally planned as an office complex, Mizar Gate Office is being transformed into a vibrant hub with a hotel, serviced apartments, and modern office spaces through leasing to Novum Hospitality.
From Office Complex to Versatile Location
The challenge was to identify an optimal and sustainable use for the newly completed Mizar Gate Office complex in Schönefeld. Due to the dynamic market development at the BER location, the opportunity arose for partial repurposing.
Challenge
Fully leasing a large, newly constructed office complex in an evolving market environment.
Solution
Strategic acquisition of Novum Hospitality as anchor tenant for two buildings; conversion to hotel and serviced apartments, complemented by office use in the third building.
Mizar Gate Office: Facts & Figures
Leased to Novum
(Buildings A & C)
Hotel Rooms
(The Niu Pax, Building A)
Serviced Apartments
(Acora, Building C)
Occupancy Rate %
(after Novum signing)
Planned Opening
(Hotel & Apartments)
Buildings
(Hotel / Office / Apartments)
Successful Placement at Mizar Gate Office
Completed: 26/04/2023
We are pleased to announce our latest success in the leasing of a recently completed project! The Mizar Gate Office (MGO) in Schönefeld, originally planned as an office complex, has been partially repurposed and is now being leased by the renowned hotel group Novum Hospitality.
A hotel with 150 rooms as well as 175 serviced apartments will be created, with Novum occupying two of the three individual buildings with a total of 12,405 sqm. Building A will house the "The niu Pax" hotel, while building C will feature apartments of the long-stay brand "Acora Living the City". The fit-out is scheduled for completion in nine to twelve months, with opening planned for summer 2024.
With a total rental area of 19,200 sqm (including Building B), the complex is almost fully let, which is a major success for our company and all parties involved. The third building (B) is currently used as office space and is 70% leased. Negotiations with potential additional tenants are ongoing.
We would like to thank DIEAG for the successful cooperation and the trust placed in our capabilities. Our team at Your Times Real Estate worked hard to bring this transaction to a successful conclusion, and we are proud of the results achieved.
This project demonstrates our ability to successfully broker real estate and to quickly adapt to changing market conditions. We look forward to further successes in the future!
A Modern Location with Potential
Mizar Gate Office impresses with its modern architecture, energy efficiency in accordance with EnEV 2016, and an excellent location near BER Airport and Berlin city center.
Diverse Usage
A mix of lifestyle hotel ("The Niu Pax"), long-stay apartments ("Acora"), and modern office spaces (Building B).
Excellent Infrastructure
240 car parking spaces (underground & surface), outstanding connections to public transport and motorway.
Attractive Location
Direct proximity to BER Airport, Berlin area code, and lower business tax rates than in Berlin.
Interested in this project or location?
Contact us for further information on this successful project or similar investment opportunities.