Gallileo

Gallileo

Gallileo is a 38-storey 136 m (446 ft) skyscraper in the Bahnhofsviertel district of Frankfurt, Germany. It was built from 1999 to 2003.

The towers architecture is made up of two towers linked by a connecting central core. The north tower is 136 m (446 ft) with 38 storeys, and the south tower is 114 m (374 ft). The core is the building's full height. Together with its 49,000 m2 (530,000 sq ft) floor space, it is the 14th tallest building in the city. Its name is an intentional misspelling of the scientist Galileo's name; the extra l comes from the building's other namesake, the nearby park Gallusanlage. Along with the nearby Silberturm, it served as the corporate headquarters of Dresdner Bank since 2008. A year later, after the takeover of Dresdner Bank by Commerzbank, the new owner plans to use only the Gallileo.

Gallileo has a glass facade with 400 individual windows forming an approximately 22,000 m2 (240,000 sq ft) large transparent outer skin. In the glass floors were the American artist James Turrell, integrated lighting, which make the building at night from the inside out glowing. These are not architecturally visible. The undersides of the floor slabs serve as reflective surfaces.

Shops, a bar, and the English Theatre Frankfurt are located on the ground floor.

General information
Type	Commercial offices
Location	Gallusanlage 7 Frankfurt Hesse, Germany
Coordinates	50°06′34″N 08°40′16″E
Construction started	2000
Completed	2003
Cost	US$180 million
Height
Roof	136 m (446 ft)
Technical details
Floor count	38 3 below ground
Floor area	49,000 m2 (530,000 sq ft)
Lifts/elevators	14
Design and construction
Owner	Dresdner Bank AG
Architect	Novotny Mähner Assoziierte
Main contractor	Bilfinger Berger SE
References
[1][2][3]

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See also

List of tallest buildings in Frankfurt
List of tallest buildings in Germany

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References

[1]^ Gallileo at Emporis
[2]^ Gallileo at SkyscraperPage
[3]^ Gallileo at Structurae

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http://en.wikipedia.org/wiki/Gallileo

Frankfurt office

Lowest vacancy rate on the German office market in 10 years

Lowest vacancy rate on the German office market in 10 years
Andreas Trumpp

Overall take-up above average thanks to strong fourth quarter

January 10, 2013, Munich – In Q4 2012, office tenants were once again ready to do business and hit the market with a year-end spurt generating take-up of around 2.77 million m² in six German office markets: Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Munich and Stuttgart. Andreas Trumpp, Head of Research at Colliers International, Germany, says, “Although we experienced a decline of around 9 percent from 2011, it was to be expected considering the above-average number of major deals we recorded that year. At the end of the day, we even managed to somewhat exceed our expectations for 2012.” Results for the last office leasing year were up by around 126,000 m² from the ten-year average of 2.64 million m². In addition, a considerable portion of the drop in sales can be attributed to the fact that owner-occupier take-up decreased by half.

http://www.colliers.com/en-gb/frankfurt/insights/market-news/20130109_german-office-market_q42012

Berlin Office Space Market Makes Record Result

BERLIN OFFICE SPACE MARKET MAKES RECORD RESULT
9 Jan, 2013, Frankfurt

• Vacancy rate falls further
• Prime rent on upward trajectory

The Berlin office space market has charted a record result for the second year in succession. Last year's very strong showing of 685,000 sqm of total rented office space was eclipsed in 2012 with a floor space turnover of 693,000 sqm. The rental volume for 2012 is therefore 47% above the average for the last ten years. In the second and third quarters in particular, Berlin companies proved very active in terms of leasing. Floor space turnover stood at an above-average 190,000 sqm over the two summer quarters. A solid result was achieved at the end of the year too, however, with a quarterly turnover of 173,000 sqm.

http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?Country=DE&Language=EN&repId=c57000015p

Frankfurt office market 2012: Highest rental volumes for five years

Frankfurt office market 2012: Highest rental volumes for five years
7 Jan, 2013, Frankfurt

• Strong fourth quarter sees space turnover on the Frankfurt office market climb over 500,000 sqm once more
• Rental volumes 11% over ten-year average
• Banks and financial services strongest rental group in 2012 despite all the uncertainties on the financial markets

http://www.cushwake.com/

Frankfurt Turns Offices to Homes as Excesses Lift Vacancy

Bloomberg News
Frankfurt Turns Offices to Homes as Excesses Lift Vacancy
By Dalia Fahmy on November 09, 2012

Vijay Vankadari, who has renovated Frankfurt apartment buildings for more than a decade, used a cheap and plentiful resource for his latest residential project in the city: old office buildings that businesses won’t touch.

http://www.businessweek.com/news/2012-11-08/frankfurt-turns-offices-to-homes-as-excesses-lift-vacancy

With solid quarterly results, the Frankfurt office space market heads toward the end of the year

With solid quarterly results, the Frankfurt office space market heads toward the end of the year
9 Oct, 2012, Frankfurt

• 342,000 sqm of office space leased by the end of September
• Top lease rates stable
• Vacancies continue light fall

http://www.cushwake.com/

Frankfurt office market with solid rental performance at the half-year point

Frankfurt office market with solid rental performance at the half-year point
5 Jul, 2012, Frankfurt

• Rental performance in the Frankfurt office space market at the long-term average in the first half of 2012
• 224,000 sq. m rented by the end of June
• High-end lease prices stable
• Vacancy rates fall

http://www.cushwake.com/

Frankfurt's office market makes a strong start to the year

Frankfurt's office market makes a strong start to the year
4 Apr, 2012, Frankfurt

• No sign of springtime sluggishness
• With a lease volume of 130,000 square metres in the first quarter, Frankfurt's office space market started the new year well
• Market players appear active

http://www.cushwake.com/

Bloomberg: Euro-Region Economy Shrank in Fourth Quarter as Investment, Exports Fell

Bloomberg

Euro-Region Economy Shrank in Fourth Quarter as Investment, Exports Fell
By Gabi Thesing - 2012.03.06 03:03 AM

Europe’s economy contracted in the fourth quarter as investment declined by the most since 2009 and exports and consumer spending dropped.

WSJ: Europe Economies Contract

http://online.wsj.com/article/SB10001424052970204880404577224363238679298.html?mod=rss_economy

EUROPE NEWS
FEBRUARY 16, 2012
Europe Economies Contract
Germany, Others Saw Fourth-Quarter Decline but Drops Were Smaller Than Expected

By BRIAN BLACKSTONE

FRANKFURT—Economic activity fell across much of the debt-plagued euro zone in the final quarter of 2011, with contractions stretching from fragile Greece to mighty Germany.

Savills: German office market hits three year take-up high (DE)

Savills: German office market hits three year take-up high (DE)
Friday 20 January 2012

The five major German office markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich ended 2011 on a three-year high in terms of take-up according to international real estate advisor Savills.
The firm’s research shows that total take-up reached approximately 2.85 million m², close to 2008 levels (approx. 2.9 million m²). Compared to 2010 turnover increases are just below 7%.

http://www.europe-re.com/system/main.php?pageid=2616&articleid=19509

Frankfurt office market: Solid Result Despite Space Reduction

Frankfurt office market: Solid Result Despite Space Reduction
4 Jan, 2012, Frankfurt

• Letting volume of the Frankfurt office space market at 424,000 m²
• Turnover falls by 11% on 2010
• Despite instability on the financial markets, banks and financial services remained one of the strongest tenant groups in 2011

Over the past twelve months, the rental volume of Frankfurt's office space (including Eschborn and Kaiserlei) under lease stood at around 424,000 m². This means rental turnover is around 11% less than the 475,000 m² for the previous year and a good 12% below the average for the past ten years (the average being 485,000 m²). According to Cushman & Wakefield (C&W) , this amounts to an altogether solid performance for the banking capital in spite of this reduction - especially when one considers the continuing, great instability on the worldwide financial markets, and also considering the fact that in the year 2010 the construction of the new headquarters of the European Central Bank (ECB), with its 104,000 m², skewed the total annual turnover.

http://www.cushwake.com/

USA Today: Geithner 'encouraged' by fiscal progress in Europe

USATODAYmoney: Geithner 'encouraged' by progress in Europe http://t.co/PvrwsOZG
Original Tweet: http://twitter.com/USATODAYmoney/status/144129293042188288

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Dec 06, 2011
Geithner 'encouraged' by fiscal progress in Europe
By Richard Wolf, USA TODAY
2011.12.06 12:38 PM

As he hopscotches from Germany to France to Italy this week, Treasury Secretary Timothy Geithner sounds upbeat about the prospects of Europe surmounting a debt crisis that threatens the U.S. economy as well.

Reuters: Insight: In euro zone crisis, companies plan for the unthinkable

Insight: In euro zone crisis, companies plan for the unthinkable
By Ben Hirschler and Scott Malone

LONDON/BOSTON | Tue Nov 29, 2011 5:30pm EST

(Reuters) - When Novo Nordisk's chief financial officer met marketing colleagues last Friday the conversation moved far beyond the usual discussion of sales and performance. Jesper Brandgaard asked a simple, far-reaching question: how would the firm set prices for two pivotal new insulin products if the euro collapsed?

CNNMoney: In Spain, new leadership, same problems

In Spain, new leadership, same problems
November 21, 2011: 10:50 AM ET

Spain is in no immediate danger of going bust. But as its economy shrinks and its banks start to crumble, Spain will look more like its spendthrift southern European neighbor, Greece.

WSJ: Banks Face Funding Stress

Banks Face Funding Stress
European Institutions Resort to Potentially Risky Swaps to Generate Liquidity
2011.11.17 01:43 AM
By DAVID ENRICH

LONDON—European banks, increasingly concerned about their ability to access funding, are devising complex and potentially risky new deals that enable them to continue borrowing from the European Central Bank.

Bloomberg: German, French GDP Grew in Q3 on Spending

German, French GDP Grew in Q3 on Spending
By Jana Randow and Mark Deen - 2011.11.15 01:15 AM

German and French economic growth rebounded in the third quarter on stronger consumer spending, even as the region braces for a recession sparked by an escalating sovereign debt crisis.

ZEW/gif Office Market Forecast - Rents For Offices in Prime Locations Strongly Increase

ZEW/gif Office Market Forecast - Rents For Offices in Prime Locations Strongly Increase

Prime rents at the five largest German office real estate markets Berlin, Hamburg, Frankfurt, Düsseldorf and Munich will considerably increase by the end of 2012. At the same time, the vacancy rate will hardly be reduced –with the exception of Düsseldorf and Frankfurt. These are the findings of the second survey among real estate market experts, which was conducted by the gif-Arbeitskreis Marktanalysen und Bedarfsprognosen (gif market analysis and demand forecasting working group) in cooperation with the Centre for European Economic Research (ZEW) in Mannheim.

http://www.zew.de/en/press/1693/zewgif-office-market-forecast---rents-for-offices-in-prime-locations-strongly-increase

Office Market Frankfurt - Q3 2011

Office Market Frankfurt - Q3 2011

At 316,300 sq m, the Frankfurt office space take-up in the first three quarters was 13% lower than in the previous year. Compared to the previous year, when the space take-up volume was strongly influenced by the owner-occupied take-up by the European Central Bank, this result can be seen as robust.Without the ECB take-up, the growth in take-up would in fact have been at a satisfactory 22%. The vacancy rate rose slightly compared to the previous quarter by 0.2% points to its current level of 17.3%. With 12,700 sq m office space having been completed in the third quarter, the volume of new completions is at its lowest level for three years. The achievable prime rent remained stable at €38.00/sq m/month.

Author(s): several
Source: CB Richard Ellis
Published: 27.10.2011

http://www.immopro24.com/market-report/office-market-frankfurt-q3-2011_1080.html

WSJ: Euro-Zone Deal Still in Doubt

EUROPE NEWS OCTOBER 20, 2011
Euro-Zone Deal Still in Doubt
By LAURENCE NORMAN, COSTAS PARIS and MATTHEW DALTON

BRUSSELS—Euro-zone leaders have narrowed their differences but remain well short of a deal to try to bring the debt crisis to a close, according to people familiar with the situation.