The owners of Frankfurt Airport's new combined intermodal and office complex, The Squaire, have secured 14,000sqm of new lettings and a host of new tenants in recent months as a new marketing strategy bears fruit.

IVG Immobilien said the new arrivals, who include consultancies Arthur D. Little, Bilfinger Berger, automotive supplier Nemark, plus the expansion of existing tenant KPMG means 93,000sqm or 66% of The Squaire is now occupied.

Negotiations to fill a further 20,000sqm of office space are at an advanced stage as the buildings prepares for a grand opening later this year.

The Squaire, previously known as the Airrail Center, is a key part of Fraport's Frankfurt Airport City vision and consists of high quality office and business conference facilties built on top of Frankfurt Airport's rail hub, giving tenants quick access to the gateway's rail and air networks.

IVG put its recent success in attracting tenants to the all inclusive features The Squaire boasts, which includes a supermarket, medical centre, fitness club, a pharmacy and even a beauty parlour, a set up it has dubbed New Work City.

"Together with the location's mobility benefits, the New Work City concept emerged as the decisive factor in all letting negotiations," says The Squaire's letting manager Christoph Nebl.

"The tenants are aware of the added value that the building would imply for their head office and thereby confirm the soundness of the unique usage concept," he added.

In April two Hilton hotels are due to open their doors, while The Squaire itself will be given a grand opening once the majority of new tenants have moved in.

The announcement of the new tenancies comes as IVG releases premliminary figures for 2010 which reveal a net profit of €23.2 million. Earnings had been impacted by a €35 million expense in connection with The Squaire.

The Squaire is 97% owned by IVG Immobilien with the remaining 3% held by Fraport.