IMMOFINANZ leases 21,000 sqm of office space in Budapest

Office Market

In IMMOFINANZ's Hungarian portfolio, several lease agreements and extensions of almost 21,000 sqm have been completed so far in 2021, according to a press release sent to the Budapest Business Journal.

Since the beginning of this year, IMMOFINANZ has concluded new (approx. 5,000 sqm), and extended existing leases (about 16,000 sqm) in Budapest.

The company says that an important factor of success is that IMMOFINANZ regularly assesses tenant needs and continuously introduces new services based on their feedback and local market conditions. 

The main tenant of myhive Thirteen | Globe office building, which operates in the public sector, extended its more than 11,500 sqm lease in the first quarter of 2021.

In addition, a new tenant arrived at myhive Greenpoint 7 office building, and an existing tenant extended its 3,000 sqm contract. The occupancy rate of both myhive buildings became 100%. In the Office Campus located in South Pest, two existing tenants have also extended their nearly 1,500 sqm contract.

Last month, myhive Haller Gardens became the headquarters by several new tenants, increasing the size of leased areas by a total of 4,500 sqm. Most of them –  a pharmaceutical, a food packaging, a vehicle manufacturer and a development company –  chose the office building thanks to the visual design of the completely renovated building and the new myhive services adapted to the needs of the tenants, the press release notes.

"We have seen some rising demand in our modern and highly flexible office concept, not only due to our latest renovation but especially for our unique services. It allows existing or new tenants to decide on a monthly basis whether they want to increase or decrease the rented office space. In addition, the rental period is more flexible, they can rent a single office or table for only a day or a month," says Viktor Nagy, IMMOFINANZ country manager operations for Hungary. "With these solutions, both start-ups and freelancers can find their ideal office, while also getting all the services that only larger companies have been able to enjoy in office buildings so far."


 

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