The Squaire

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The Squaire
The Squaire behind the A3, September 2017

The Squaire behind the A 3 , September 2017

Data
place Frankfurt am Main
architect JSK
Construction year 2007-2011
height 45 m
Coordinates 50 ° 3 '10.5 "  N , 8 ° 34' 11.5"  E Coordinates: 50 ° 3 '10.5 "  N , 8 ° 34' 11.5"  E
particularities
Largest office building in Germany;
multifunctional use: offices, hotels, shops, restaurants, train stations and parking lots

The Squaire (own spelling: THE SQUAIRE , formerly Airrail Center Frankfurt ) is a 660 meters long, up to 65 meters wide and 45 meters (nine floors) high office building in Frankfurt am Main in the airport district . It was built between 2007 and 2011 above the existing long-distance train station at Frankfurt Airport and creates additional space for offices , hotels and retail . The Squaire is directly connected to Terminal 1 of the airport by a corridor.

With a total rental area of ​​140,000 m², The Squaire is the largest office building in Germany. The building has its own bulk recipient zip code 60600 and shares the home delivery zip code 60549 with the airport grounds and Gateway Gardens .

Surname

Squaire is a suitcase word from the English words "square" (public place) and "air" (air). The name was announced in June 2010 after the building had been run under the project name Airrail Center Frankfurt for years . Airrail is a combination of the English words "air" and "rail".

Location and transport links

The building is located between the federal highway 3 and the parallel federal highway 43 near the Frankfurter Kreuz and the new development area Gateway Gardens . There is a direct connection to the past under the building railway station with daily 210 long-distance trains , of which 185 ICE - trains . The airport terminal and the regional train station can be reached on foot via a connecting corridor over the federal highway 3 .

The fully automatic MiniMetro , “Squaire-Metro”, a horizontal funicular with two cabins , shuttles between the building and the parking garage (2500 parking spaces) .

history

Long-distance train station without overbuilding (2000)
The Squaire under construction (January 2010)

As part of the planning of the high-speed route Cologne – Rhine / Main , it was necessary to build a second train station at Frankfurt Airport , as the existing S and regional train station did not have the necessary passenger capacities to handle the forecast traffic. In 1995 construction work began on the new long-distance train station, and in 1999 the 660 meter long and up to 55 meter wide structure was completed. The roof of the station with a glass dome was already designed for a later development.

Based on the planning of the architects JSK , the preparatory measures for the office building, initially called Airrail Center Frankfurt , began in November 2006 ; the foundation stone was laid on March 1, 2007. The main investor for the project is IVG Immobilien AG in Bonn . The opening was initially planned for spring 2010. The planned construction costs were initially 660 million euros ; At the beginning of June 2009, the investor IVG already spoke of more than 840 million euros. An appraisal that was made public at the end of July 2009 expected construction costs of just under one billion euros and completion at the end of 2010. The construction costs ultimately amounted to around 1.25 billion euros.

During the shell construction work, the client gave notice to the shell construction contractor in April 2008 because he had stopped the construction work on the grounds that individual requirements of the building permit had not been met and important planning documents were not available. A competing company was then commissioned to continue the construction work. A year later it was found that the structural steel imported from China was defective, with the result that a total of 3500 tons of built-in steel had to be repaired or replaced.

The final name The Squaire was announced in June 2010 when the facade was completed. The Squaire was officially opened in 2011 and the tenants KPMG , Arthur D. Little and the auto parts supplier Nemak moved in. In addition, catering and retail companies such as Starbucks , Paulaner Wirtshaus and REWE opened . The opening of the two Hilton hotels (Hilton Garden Inn and Hilton) in the eastern part of the building took place on December 20, 2011.

In February 2012, Squaire's own multi-storey car park (The Squaire Parking) with 2,500 parking spaces to the west of the office building was completed. The parking garage is connected to The Squaire on level 6 via a 300 meter long steel structure (“Skylink”). Via the Skylink operate two people mover -Metros the shuttle.

The company IVG originally wanted to sell the building in order to repay financial debts of around 500 million euros and to free up around 350 million euros of equity capital previously tied up for more profitable projects. However, a planned sale of the building failed in January 2015 because the real estate company had not received a corresponding offer. The value was put at 700–807 million euros. In November 2019, the building was sold to a consortium led by the investment company AGC for 940 million euros. That was the most expensive real estate deal in Germany in 2019.

Tenant

West wing of the Squaire (after opening July 2011)

The main tenants are the auditing company KPMG , two Hilton Hotels and Lufthansa . KPMG rented around 40,000 m² of office space in the western part of the building and moved in on May 30, 2011. From there, KPMG will manage the company's European and Saudi Arabia business ( KPMG Europe LLP ) with 2,150 employees . In the eastern part there are two Hilton Hotels: The Hilton Garden Inn Frankfurt Airport with 334 rooms and the Hilton Frankfurt Airport with 249 rooms on a total of 34,500 m². In May 2012 Lufthansa moved into an area of ​​18,500 m² with 1,100 employees. Other tenants are Nemak, IVG Immobilien , Plug and Work as well as Atos SE and Arthur D. Little .

A REWE -City store with daily opening times from 6 a.m. to midnight and a Virgin Media Store can be found in the western part of the building.

In addition, a specialist medical center was to be built on 3,600 m² .

From May 2019 onwards, Michelin will place parts of the administration for Europe North in the Squaire on 6,200 m², creating space for over 300 employees.

5,900 m² were earmarked for restaurants and shops. Rents of around 30 euros per square meter are charged for office space. At the beginning of 2012, 85% of the space was let. At the end of 2019, 98 percent was rented. The remaining lease period averaged ten years.

Web links

Commons : The Squaire  - collection of images, videos and audio files

Individual evidence

  1. ↑ DB Schenker decides against IVG . In: Frankfurter Allgemeine Zeitung , No. 46, February 24, 2011, p. 15.
  2. ↑ https://www.postdirekt.de/plzserver/
  3. ^ The Squaire - The Project. In: www.thesquaire.com. Retrieved December 3, 2015 .
  4. ↑ a b Airrail Center on the “plate” should be ready by the end of 2009 in Treffpunkt (airport company's customer magazine), issue 2/2007.
  5. ↑ Airrail tenants benefit from political decision. In: immobilienfonds-news.de. Archived from the original on December 8, 2015 ; Retrieved December 3, 2015 .
  6. ^ Futuristic construction site Airrail Center . In: Frankfurter Rundschau , May 28, 2009.
  7. ↑ Ed. Züblin AG: AIRRAIL CENTER FRANKFURT celebrates topping-out ceremony. In: press release. June 4, 2009, archived from the original on December 8, 2015 ; Retrieved December 3, 2015 .
  8. ↑ IVG major project Airrail-Center: construction costs rise to one billion euros - WiWo from July 25, 2009.
  9. ^ Rainer Schulze: Airrail-Center: Security not proven. In: www.faz.net. April 22, 2008
  10. ↑ www.tuev-nord.de: 3,500 tons of steel tested in the Airrail Center Frankfurt . Press release, August 13, 2010.
  11. ↑ Inside the whale . Frankfurter Neue Presse, April 8, 2011, p. 3.
  12. ↑ Allgemeine Hotel- und Gastronomie-Zeitung: Hilton Hotels at The Squaire welcome first guests , December 20, 2011, accessed January 1, 2012
  13. ^ The Squaire Parking
  14. ↑ Reiner Reichel: Transformation of a corporation . In: Handelsblatt . No. 44, March 1, 2012, ISSN  0017-7296 , p. 36.
  15. ↑ IVG: Real estate group wants to sell prestige property "The Squaire" according to media report on funds finanzen.net, August 13, 2012, accessed on September 6, 2012.
  16. ↑ Helmut Bünder: Store keeper "The Squaire". In: Frankfurter Allgemeine Zeitung. January 14, 2015, accessed January 14, 2015 .
  17. ^ A b Matthias Streit: Blackstone finds buyers for "The Squaire" . In: Handelsblatt . No. 238 , December 10, 2019, ISSN  0017-7296 , p. 31 .
  18. ↑ [http://www.thesquaire.com/GridFS/uploads/attachment/file/4ee77a1ad70a5905f4002916/THE_SQUAIRE_Pressemitteilung_ueber_den_Einzug_von_KPMG_vom_30.5.2011.pdf Press release: Einzug von KPMG] (Link not available)
  19. ↑ Press release IVG Immobilien v. May 22, 2012 , accessed May 7, 2014.
  20. ↑ Shopping at night in Frankfurt - FlyPedia News, December 13, 2011.
  21. ↑ IVG Immobilien AG (Ed.): IVG Development: KPMG leases a further 6,000 m² in the AIRRAIL CENTER FRANKFURT Press release of January 27, 2009
  22. ↑ Rubber tires magazine: Michelin moves 250 employees to Frankfurt. In: press release. Retrieved November 21, 2018 .
  23. ↑ http://www.immobilien-zeitung.de/1000002238/frankfurt-the-squaire-ist-zu-zwei-drittel-vermieten Frankfurt: The Squaire is two thirds rented
  24. ↑ IVG Immobilien AG: IVG lets a total of 6,500 m² in THE SQUAIRE. In: press release. Retrieved December 3, 2015 .