CA Immo concludes long-term lease agreement for approx. 8,000 sqm office space in Budapest's Millennium Tower I
Vienna/Budapest - CA Immo has successfully signed a 10-year lease agreement with an internationally operating Hungarian company for approx. 8,000 sqm in the Budapest office building Millennium Tower I. The building, which has 19,000 sqm of rental space, is part of the centrally located Millennium Towers office complex directly on the banks of the river Danube, with a total rental space of approx. 70,700 sqm.
With the newly signed lease, Millennium Tower I benefits from an occupancy rate above 90% with an exceptional WALT of more than 6 years from a balanced mix of household-named, industry-leading corporate tenants. The new lease further underpins the success and quality of The Millennium Towers office complex as a high-profile address for corporate occupiers.
Cushman & Wakefield and Newmark VLK acted as agents and advisors on the deal.
John McKie, Managing Director of CA Immo Hungary: “We are constantly improving and refurbishing our buildings and their surroundings to make them even more attractive for users and residents. We are pleased that both the recent renovation of Millennium Tower I and the opening and revitalization of Millennium Park have been very well received by our tenants.”
The Millennium Towers office complex is located at a prestigious site on the banks of the Danube, offering a panoramic view of the Buda hills south of CBD in the 9th district. The overall project consists of four buildings (Towers I, II, III and Building H) with a total gross leasable space of approx. 70,700 sqm and 1,200 parking spaces. The complex is surrounded by Millennium Park, a nearly 2,000 sqm green recreation area that offers a diverse year-round program of outdoor activities for employees and residents. The area also offers a wide range of services and shops, such as cafés, restaurants, a fitness centre, hairdresser, pharmacy and drugstore.
The Class-A office buildings are perfectly connected to the public transport network and represent an outstanding level of quality on the Hungarian office market. All buildings have LEED Gold or BREEAM In-Use Very Good sustainability certification as well as Access4you certification.