Cushman & Wakefield, exclusively representing the Landlord, has recently closed a significant lease transaction in M7 Distribution Center in Székesfehérvár, Hungary.
GEALAN HungaryPlast Kft., a leading Hungarian technical parts and component manufacturer has leased ca. 5,000 sq m floor space meaning they will occupy 20% of the entire facility.
The complexity of the deal lays in the fact that the new tenant plans to do a light manufacturing activity in the premises as opposed to the original logistics function. The planning to make the unit suitable for production required a thorough collaboration between Cushman & Wakefield, the owners of the property, the project managers and the Tenant. The lease represents a long term partnership between the Landlord and Gealan and is the first step in the full utilisation of M7 Distribution Center.
M7 Distribution Center is a modern logistics facility and as the example shows it is also suitable for light manufacturing activities. Cushman & Wakefield look forward to new tenants for the remaining available 20,000 sq m floor area.
Gábor Halász- Csatári, Associate, Head of Industrial Department at Cushman & Wakefield, Budapest said: “We are extremely proud to have concluded such a complex transaction. Our industrial experts utilised all resources and expertise to make this deal happen despite challenging expectations thanks to the nature of the prospective Tenant’s activity. With the help of the property owners, project managers and property management we can now comfortably say that the cooperation was a success proven by the fact that Gealan is due to move in to the property in early 2018.”
Gábor Dömsödi, MD of Gealan HungaryPlast Kft. added: “We are happy to have closed this significant transaction in such a short time frame and that the flexibility and cooperating attitude of the Landlord allows us to move in to our new premises and start manufacturing very soon. After a thorough research of the close vicinity in terms of possibilities we came to a conclusion that M7 Distribution Centrer is the best real estate solution for us on the long term.”