Düsseldorf TF: Helaba Makes Waves as Major Tenant on Kennedyufer
Massive Real Estate Transaction Dominates 2025 Market
Landesbank Hessen-Thüringen (Helaba) is on the move, shifting base to Golzheim in Düsseldorf. Bidding adieu to its current abode on Uerdinger Straße, this financial powerhouse is set to make the largest rental deal of the year in the bustling Düsseldorf real estate market. Starting 2026, they'll take over approximately 7,800 square meters of space from Schwannstraße, nestled within the "Heylo" building.
Previously the domain of Deloitte, the "Heylo" building has been empty for some time. Commenting on the new tenant, Nicole Pötzsch, responsible for Northern and Central Europe at Pimco (the owner of "Heylo") stated, "We're stoked to have Helaba, an iconic state bank, on board as our tenant. Securing Helaba showcases the impressive quality and long-term viability of the building."
The major real estate transaction is part of a series of upcoming developments around Kennedyufer. A refugee accommodation for the state of North Rhine-Westphalia is currently under construction on Schwannstraße, while office space in the Kennedyufer Center will be converted into apartments in the coming years. However, the mega project "Twist," located just a few hundred meters away, is also taking shape.
Office Space in Düsseldorf: New and Refurbished Properties Stealing the Spotlight
This groundbreaking deal stands out in the relatively low-key real estate market of 2025. Simultaneously, it embodies a potentially sweeping shift in Düsseldorf's real estate landscape. Noticeably, while multiple large-scale projects with new office space are in the pipeline for the city, the vacancy rate is escalating. Currently, a staggering 775,000 square meters of office space, larger than the old town of Düsseldorf, sits vacant. Older office spaces are struggling to find tenants, as they often lack the modern amenities and energy-saving features sought after by today's tenants.
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As evidenced by the Schwannstraße deal, older buildings like Helaba's previous location have faced a drought of new tenants post-renovation. An insider from the Düsseldorf real estate market shares that no tenant has been found for Helaba's old building at this time.
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In the dynamic Düsseldorf real estate market, Helaba's decision to lease a large space at Schwannstraße marks the year's most significant rental deal, signifying a potential shift. Simultaneously, the vacancy rate for older office spaces continues to rise due to the expectation for modern amenities and energy-saving features.
