Union Investment fills Seestern 3 in Dusseldorf
Union Investment has secured a 10-year lease with a global technology group for 9,666 m² of office space at its Seestern 3 property in Dusseldorf. The deal includes 179 m² of storage and 140 parking spaces, ensuring the roughly 33,000 m² tower remains fully let.
The lease runs from the second quarter of 2027, coinciding with the planned scale-back of long-standing anchor tenant Deutsche Telekom.
Seestern 3’s location on the left bank of the Rhine has established itself as an international hub for media and communications technology, with strong transport links and a cluster of hotels.
It continues to draw large occupiers, even as demand elsewhere in the city cools, making it one of Dusseldorf’s more resilient office locations.
Sven Lintl, Head of Asset Management DACH at Union Investment, explained that the company’s proactive approach secured a new tenant early on for a portion of the space currently occupied by Deutsche Telekom.
This allows Deutsche Telekom to optimize its total space and return the relevant areas in a timely manner for necessary renovation work, with the company expected to move out of Seestern 3 in the third quarter of 2027.
Union Investment is already in discussions with various interested parties regarding additional space, according to the filing.
The deal is a useful indicator for investors and developers, as citywide vacancy in Dusseldorf has been climbing all year, reaching 11.8% by the middle of 2026.
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Prime rents have held their ground at €46.00 per m² per month over the same period, with landlords offering modern, well-located, sustainability-certified space seeing demand hold up.
Seestern 3’s LEED Gold certification, obtained after a 2013 to 2015 modernisation, is an example of the kind of capital expenditure being rewarded in this bifurcated market.
The building, together with its park, also holds protected historic landmark status, having been designed in 1961 by Helmut Rhode as headquarters for the Horten department store group.
Rhode’s firm, RKW Architektur, handled the tenant fit-out planning for the building, bringing the project full circle.
Cushman & Wakefield’s research points to a trend where older stock in less central locations is absorbing most of the vacancy, while modern and well-located spaces remain in demand.
They note that this trend is reflected in the deal, with Union Investment’s proactive approach and the property’s prime location contributing to its success.
As the market continues to evolve, deals like this one will be closely watched by investors and developers looking for insights into the future of office space in Dusseldorf.
