The Kranhaus Center occupies the third and fourth floors of one of three iconic 21st century waterfront buildings designed to be reminiscent of harbor cranes that could once be found along the River Rhine. Kranhaus1, named like this because it's the first builded Kranhaus, like its two neighboring 17-floor tower buildings, is shaped like an inverted letter 'L'. It was designed by architects Bothe, Richter and Teherani. Kranhaus1 won an MIPIM (the annual international property trade show) award shortly after its construction was completed. Their impressive landmark of modern architecture is located south of the historic old town and symbolizes the revival of the Rheinauhafen along the Rhine. Rheinauhafen now boasts creative industry companies, law firms and museums. Cologne's economy features strong insurance and media companies and is also an important research centre and home to a number of corporate headquarters. The city's river ports and airport freight traffic make Cologne a major trade city.