C&W on behalf of the Landlord, AIG/Lincoln representing Union Investment has successfully closed two large office lease transactions at Krisztina Palace, Budapest.
Krisztina Palace located in the heart of Buda is delighted to welcome two new tenants who will acquire a combined 4,420 sq m of office space in the building. A large international airline company signed for 3,149 sq m, where they will set-up a regional call centre and employ over 300 members of staff. The second tenant is an international accounting company, who will open their operations from Krisztina Palace in autumn 2014 on 1,271 sq m of office space.
With these significant new lease transactions Krisztina Palace is now more than 60% occupied to tenants such as Deutsche Leasing, Granit Agriculture & Johnson & Johnson.
Boglárka Balogh, Leasing Manager at AIG/Lincoln commented: “We are delighted that these two high profile and international tenants have chosen to relocate to Krisztina Palace, and we welcome them to the building. Both tenants were attracted to Krisztina Palace due to its accessible location and high quality technical features.’’
David M Johnston Associate, Head of Office Agency at Cushman & Wakefield Budapest said “These two deals are fantastic news for Krisztina Palace. The building now benefits from a healthy occupancy rate and with the existing interest we are enjoying, we are confident of further transactions in the short-term. Both these high calibre tenants reinforce the recovery of the Budapest office market, and it is becoming clearer that large tenants who need to relocate within short timescales, will struggle to find an abundance of available Grade A space in the city.’’
Cushman & Wakefield is the exclusive leasing agent for Krisztina Palace
The 18,000 sq m A category Krisztina Palace, is located nearby Déli Station and motorways M1 and M7. Circa 7,000 sq m of office and retail space remains available at the property, split over several floors. www.krisztinapalace.hu