IVG: Office letting is gaining momentum (EU)

Lettings of office space of IVG Immobilien have been gaining momentum since September, continuing this positive trend also in October. In September new leases and prolongations totaling approx. 26,000 m² were concluded, compared with expiries of approx. 10,000 m².

Major conclusions in September:

The most significant conclusion comprising approx. 14,300 m² and 234 parking spaces is the re-letting of 'De Oliphant' to the internationally active bank and insurance company ING in one of the preferred office locations in Amsterdam, the Center Area Office Park Amsterdam Southeast by IVG Institutional Funds.

IT-Company Oracle has signed a prolongation contract of approx. 11,200 m² of office space in an office building of IVG Institutional Funds in José Echegaray, La Rozas Business Park in Madrid.

IVG branch office Madrid has closed a renewal of a lease contract with C&A for approx. 1,500 m² at 'Alto do Parque' in Lisbon.

IVG Institutional Funds concluded a new lease with a communication company on approx. 7,700 m² in Issy 2, Rue d'Oradour sur Glane (Issy les Moulineaux) in the banlieue of Paris.

Another new lease of approx. 3,100 m² of office space was concluded with a French company by IVG Institutional Funds in 47, Rue de la Victoire (the charming Hotel Particulier) in the finance district of Paris, with Jones Lang LaSalle involved in this conclusion.

In the office building Riva (Slatenlaan 2-20 in Den Bosch) in the 'Paleiskwartier' business park IVG succeeded in concluding two new leases:

- a contract amounting to approx. 3,400 m² of office space
- and a lease on approx. 2,500 m² of office space.

Another new lease coming to approx. 1,100 m² of office space at Entrada 200 was included by IVG's Amsterdam Branch for IVG Institutional Funds.

A lease to a bank to approx. 1,300 m² of office space and 60 parking spaces in the underground car park was concluded by IVG's Warsaw Branch in Horizon Place, the building that was sold for €102 million to Union Investment Real Estate GmbH in April 2010, with IVG having completely fulfilled their rent-guarantee obligations.

A few days before approx. 700 m² of office space were let in the same building.

IVG Institutional Funds concluded a new lease for one of their funds on approx. 1,400 m² (with approx. 250 m² of retail space included) in Prague's City Point.

IVG concluded a new lease in the Infopark to approx. 1,100 m² of office space and several smaller contracts for different office buildings amounting approx. 1.600 m².

The IVG branches in Germany as well have reported numerous new leases and prolongations in the major office locations. Some of the more significant deals will be presented in the following:


IVG Hamburg reported the new lease of approx. 3,000 m² in the office building Channel 11 (Blohmstrasse 14) in Hamburg-Harburg.

Another new lease coming to approx. 2,400 m² was concluded in IVG's office building situated in Harburg, Schlossstrasse 24. A prolongation on approx. 1,000 m² was concluded at Schlossstrasse 22a.

A lease of approx. 1,000 m² of office space was renewed at Karnapp 20/Schellerdamm 30.

A new lease amounting to approx. 2,200 m² of office space at Tempelhofer Weg 62 was concluded by IVG's Berlin Branch, supported by Heyen & Partner Immobilien Consulting.

Supported by Aengevelt; IVG concluded a new lease of approx. 1,000 m² in the carcass on Franz-Rennefeld-Weg, Düsseldorf; approx. 2,200 m² of office space was let at Erkrather Strasse 345-349 for IVG Institutional Funds.

In Frankfurt, IVG's Frankfurt branch succeeded in renewing an existing lease of approx. 5,000 m² with SAGE Software GmbH in the 'Y 2' office building at Emil-von-Behring-Strasse, with Knight Frank involved in this conclusion.

Supported by NAI Apollo, IVG concluded a new lease on approx. 600 m² to Tribe Technologies GmbH.

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