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Union Investment has signed a 10-year lease with a global technology group for 9,666 m² of office space, 179 m² of storage and 140 parking spaces at Seestern 3, its architectural landmark on the left bank of the Rhine in Dusseldorf.
The lease runs from the second quarter of 2027, and with it, the roughly 33,000 m² tower stays fully let even as its long-standing anchor tenant prepares to scale back.
Seestern has established itself as an international hub for media and communications technology, with strong transport links, a cluster of hotels and a roster of corporate headquarters that make it one of Dusseldorf's more resilient office locations.
Deutsche Telekom scaling back, not leaving
Sven Lintl, Head of Asset Management DACH at Union Investment, said the company's proactive asset management approach secured a new tenant early for a portion of the space currently occupied by its main tenant, Deutsche Telekom.
This allows Deutsche Telekom to optimise 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 said it is already in discussions with various interested parties regarding additional space.
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A 1961 landmark with LEED Gold certification
The five-storey building has been part of the UniImmo: Europa portfolio since 1999. It was designed in 1961 by Helmut Rhode, the Dusseldorf architect who built it as headquarters for the Horten department store group, creating the first building in Germany conceived exclusively as open-plan office space.
RKW Architektur, the firm Rhode founded a decade earlier, handled the tenant fit-out planning for the very building its founder once designed. The building holds LEED Gold certification, the product of a 2013 to 2015 modernisation that added a private park, two inner courtyards, a three-storey pavilion and a park-facing terrace.
The building, together with its park, also holds protected historic landmark status.
Dusseldorf's bifurcated office market
Citywide vacancy in Dusseldorf has been climbing all year, reaching 11.8 per cent by the middle of 2026, yet prime rents held their ground at €46.00 per m² per month over the same period.
Cushman & Wakefield's research points to landlords offering modern, well-located, sustainability-certified space seeing demand hold up, while older stock in less central locations absorbs most of the vacancy.
Seestern 3's certification and recent capital expenditure are precisely the kind of investment this bifurcated market is rewarding.
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