Accounting firm KPMG secures possession of Park Tower building
KPMG, the global audit firm, is relocating from Frankfurt Airport to the city center, as confirmed by a 15-year lease agreement with DWS for over 20,000 square meters in the Park Tower. The investment company also announced that the building, initially constructed in 1972 as the administrative headquarters of the Southwest German Cooperative Central Bank, will undergo a comprehensive modernization by 2028. Upon completion, KPMG will occupy the entire structure. Additionally, the firm will lease space in the adjacent OpernTurm, also due for modernization. JLL estimated the combined rental space in the two Opera Square buildings to be approximately 33,000 square meters in the future. The Park Tower has been part of DWS's real estate public fund "Grundbesitz Europa" since 2010.
While the enrichment data suggests that KPMG is downsizing its office footprint in New York City and moving offices to Two Manhattan West in Hudson Yards by 2025, the current news has no direct link to KPMG Frankfurt's specific plans. For further information about KPMG Frankfurt's moves, contacting the company directly or local news sources would be advisable.
Regarding the modernization of the Park Tower and OpernTurm, no specific timeline or details were available in the search results. As significant office buildings in Frankfurt, any ongoing or planned modernization projects would necessitate checking local news sources or contacting the building management directly for updates.
In light of the modernization announced for the Park Tower and OpernTurm, KPMG might find opportunities in investing in commercial real-estate development and finance projects within the area. With the firm's keen interest in sustainable spaces, these modernized buildings could attract KPMG's attention for future office expansions or determining suitable real-estate options for investing.
