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COPRO acquires residential and commercial building in Stuttgart Mitte
July 1, 2017
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“Alexanderstrasse 53” to be Artistically Revitalized
Stuttgart, July 31, 2017 – COPRO acquired the centrally located residential and commercial building at Alexanderstrasse 53 on July 1, 2017. The real estate investor and developer plans to renovate the facades and balconies and revitalize the courtyard. As a specialist in complex projects involving existing residential and commercial buildings, COPRO is thus expanding its portfolio.
Loyal Tenants Thanks to Prime Location
The property is located in the culturally and historically significant “Mitte” district of Stuttgart. It is within walking distance of the City Hall, the State Museum, and the Palace Square and offers nearly 1,000 square meters of leasable space. The building is currently fully let: 826 square meters are residential, with the majority being commercial space. This building is spread across five floors with a total of 17 residential units, each ranging in size from 27 to 69 square meters. The ground floor is occupied by two established tenants: the Wehr Gallery and the ophthalmic technology company Schairer.
Prime Location: Property with Development Potential
"The goal of our project is to sustainably enhance the quality and further develop this living and working space," explains Marc F. Kimmich, founder and managing partner of COPRO. The building is situated in a sought-after location in Stuttgart and offers considerable potential for development. In addition to the planned revitalization measures, an art project will also be implemented in the courtyard. This project aligns with COPRO's commitment to giving places a new dimension and enriching living spaces through the work of young, emerging artists. The purchase of the mixed-use building was facilitated by COPRO Projektentwicklung GmbH. Commercial and technical property management is handled by COPRO Immobilienmanagement GmbH. Financing for the project is provided by Kreissparkasse Göppingen.
Click here for the full press release.
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