Sony Center | Properties | Tishman Speyer

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The Sony Center successfully integrated underground rail, subway and highway traffic to accommodate the development. It has become a shining representation of Germany’s progress since reunification.

Potsdamer Strasse 4
Berlin
Germany

A deeper look at : Sony Center

Shortly after the fall of the Berlin Wall, Sony began planning a large development at Potsdamer Platz, in the historical center of Berlin, Germany. In recognition of a shifting European market, Sony decided to establish its European headquarters at this location.

The Property

In 1994, Tishman Speyer was selected by Sony from several international groups to be its developer and partner, based on our global reputation and track record in Germany. The Sony Center successfully integrated underground rail, subway and highway traffic to accommodate the development, and it has become a shining representation of Germany’s progress since reunification.

Our Role

As a first step, Sony asked Tishman Speyer to reevaluate the project’s concept, design and costs. We analyzed Sony’s plan and reconfigured the buildings to create different kinds of spaces for the evolving Berlin market.

We oversaw and managed all aspects of the development, including design and construction, financing, leasing, management and overall strategy for the project. The project was completed on time and under budget. It was fully leased ahead of schedule, meeting tight move-in dates for the tenants. In addition, Tishman Speyer was responsible for coordinating the project’s tie-ins to local infrastructure projects, including two tunnels for rail, subway and automobile traffic.

The Outcome

Tishman Speyer reconfigured the complex, giving the buildings separate identities. In the center is a dramatic roofed space, the Forum, which serves as a public area and entertainment complex. 1.3 million rentable square feet were constructed, including 728,000 square feet of offices, 405,000 square feet of retail and cultural space, and 200,000 square feet of residential units. The project was developed at a total cost of approximately $1 billion.

Recognizing our innovative use of space and design, the Urban Land Institute awarded Tishman Speyer the 2000 International Award for Large-Scale Mixed Use out of 27 international finalists. The prize recognizes excellence in the full development process of a project.

Summary

Tishman Speyer succeeded in raising the site’s utilization and increasing rentable floor area by more than 12%. We were also able to reduce projected construction costs by nearly 10%. The project achieved the highest rents in Berlin and was fully leased by its completion. The building serves as Sony’s European headquarters as well as the headquarters of French pharmaceutical maker Sanofi-Syntelabo and Germany’s railway, Deutsche Bahn.

The Sony Center successfully integrated underground rail, subway, and highway traffic to accommodate the development. It has become a shining representation of Germany’s progress since reunification.

Tishman Speyer sold Sony Center in December 2004.