Cushman & Wakefield (C&W) representing the landlord Invesco has successfully concluded a lease renegotiation with the well-known French hypermarket chain Auchan in its main Budapest DC on 37,508 m².
The subject built-to suit building was developed in 2002 especially to serve Auchan's needs for a main DC serving 12 hypermarkets in Hungary (nine in the Budapest area, three in countryside cities). Invesco purchased the building for investment purposes in 2006 with a long term ongoing lease with Auchan.
Emília Tarró, Associate, Head of Industrial Department at Cushman & Wakefield Budapest commented: "We are really proud to have concluded the biggest industrial transaction of the year. This deal proves the long term good relationship between the landlord and Auchan. When deciding to stay in the premises Auchan considered the flexible approach of the landlord who understood their business and real estate needs."
Jan Dalik, Senior Asset Manager at Invesco added: "After closing the renegotiation process with Auchan we think that the building has proven its advantages and we are most confident that it will serve Auchan's real estate needs on a high level in the future in the long term."
Péter Boncsér, Logistics Director at Auchan added: "We are happy to have concluded our lease renegotiation process quite quickly and problem free with Invesco. When deciding to stay in the building we have taken into account the perfect location, the attractive lease conditions and nevertheless the good relationship with the landlord."
The logistics building is located on the south-eastern outskirt of Budapest - in Üllő a few kilometers from the Liszt Ferenc International Airport. The proximity of the M0 ring road provides easy access to every motorway and all directions of the country. This is an ideal location to optimize Auchan's supply chain.
The building was completed in 2002 according to Auchan's technical specification and consists of 36,558 m² warehouse and 950 m² office space on the mezzanine level.
Source: Cushman & Wakefield