{"id":1004210682,"date":"2018-03-20T02:38:42","date_gmt":"2018-03-20T10:38:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004210682"},"modified":"2022-12-09T01:42:55","modified_gmt":"2022-12-09T09:42:55","slug":"castellum-to-redevelop-landmark-stockholm-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/castellum-to-redevelop-landmark-stockholm-building\/","title":{"rendered":"Castellum to Redevelop Landmark Stockholm Building"},"content":{"rendered":"

By Keith Loria<\/p>\n

\"Sabbatsberg<\/a>

Sabbatsberg 24 in Stockholm, Sweden<\/p><\/div>\n

Castellum<\/a> will invest approximately $37.6 million to transform the Sabbatsberg 24, a 123,784-square-foot building located near Torsgatan in central\u00a0Stockholm, Sweden, into modern office space. The Sweden-based firm acquired the landmark building was last year, with the goal of enriching and developing the building.<\/p>\n

The first phase of the project, which is set to begin this spring, involves the redevelopment of more than 95,000 square feet and is scheduled for completion\u00a0during the third quarter of 2019.\u00a0The building will be designed to open out towards the street and offer connections to the inner courtyards.<\/p>\n

\u201cThe property will be restored gently, retaining the current color and shape,\u201d <\/em>Henrik Saxborn, Castellum\u2019s CEO, told Commercial Property Executive. \u201cInside we will create a modern and flexible office space, while highlighting the beautiful original details.\u201d<\/em><\/p>\n

Designed by Ferdinand Boberg in 1906, the property served as the administration building for\u00a0Stockholm\u2019s Gasverk. In 1911, it became home to Stockholm Vatten\u2019s headquarters, which remained there until 2016.<\/p>\n

\u201cWe\u2019re experiencing massive demand for office space in central Stockholm and continue to strengthen the quality of our real estate portfolio with modern and unique office solutions in an extremely attractive location,\u201d<\/em> Saxborn said. \u201cThe property is in a unique location close to communications, shopping and other services. The whole of Torsgatan is undergoing a restructuring and our ambition is to create an easy-accessible destination where people work, live and socialize more than just during office hours.\u201d<\/em><\/p>\n

High demand for office properties<\/span><\/p>\n

According to Saxborn, there\u2019s a large demand for office properties in central\u00a0Stockholm, which is why the company decided to transform the building, even without a tenant signed up for the space. Based on the market, it\u2019s expected that\u00a0the space will bring in approximately $4.9 million a year.<\/p>\n

Earlier this week, Castellum kicked off development of E.ON Nordic headquarters<\/a>, a 263,700-square-foot office property near the central station in Malm\u00f6.\u00a0Castellum\u2019s roster of projects also includes the construction of Eminent,\u00a0Sweden\u2019s first WELL-Certified building<\/a>, in Malm\u00f6\u2019s Hyllie district.\u00a0<\/p>\n

The company is forging long-term plans with\u00a0Stockholm\u00a0City and other property-owners to develop and create a comprehensive concept for the entire Torsgatan area.\u00a0<\/p>\n

Image courtesy of Castellum<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Sweden-based firm is set to invest more than $35 million to transform a 124,000-square-foot property in central Stockholm for office use.<\/p>\n","protected":false},"author":451,"featured_media":1004508543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,16,21742,21747],"tags":[36486],"class_list":["post-1004210682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-international","category-latest","category-office","tag-castellum"],"acf":[],"yoast_head":"\nCastellum to Redevelop Landmark Stockholm Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/castellum-to-redevelop-landmark-stockholm-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Castellum to Redevelop Landmark Stockholm Building\" \/>\n<meta property=\"og:description\" content=\"The Sweden-based firm is set to invest more than $35 million to transform a 124,000-square-foot property in central Stockholm for office use.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/castellum-to-redevelop-landmark-stockholm-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-20T10:38:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:42:55+00:00\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Sabbatsberg-24-in-Stockholm-Sweden.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-to-redevelop-landmark-stockholm-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-to-redevelop-landmark-stockholm-building\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Castellum to Redevelop Landmark Stockholm Building\",\"datePublished\":\"2018-03-20T10:38:42+00:00\",\"dateModified\":\"2022-12-09T09:42:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-to-redevelop-landmark-stockholm-building\\\/\"},\"wordCount\":381,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-to-redevelop-landmark-stockholm-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Sabbatsberg-24-in-Stockholm-Sweden.jpg\",\"keywords\":[\"Castellum\"],\"articleSection\":[\"Development\",\"International\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-to-redevelop-landmark-stockholm-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-to-redevelop-landmark-stockholm-building\\\/\",\"name\":\"Castellum to Redevelop Landmark Stockholm Building - 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