CA Immo has successfully concluded a 10-year lease with an international Hungarian company for 8,000 sqm in the Millennium Tower I office building in Budapest. The building with 19,000 sqm of rental space is part of the centrally located Millennium Towers office complex directly on the banks of the Danube with a total rental area of 70,700 sqm.
With the newly concluded lease agreement, Millennium Tower I has an occupancy rate of over 90 percent and an average lease term (WALT) of more than 6 years with a balanced tenant mix of well-known, industry-leading companies.
Cushman & Wakefield and Newmark VLK acted as brokers and advisors on the transaction.
John McKie, Managing Director of CA Immo Hungary: “We are constantly improving and renovating our buildings and their immediate surroundings to make them even more attractive for users and residents. We are delighted that both the recent renovation of the Millennium Tower I and the opening and revitalization of Millennium Park have been very well received by our tenants.”
The Millennium Towers office complex occupies a prestigious location on the banks of the Danube and offers a panoramic view of the Buda hills south of the CBD in the ninth district. The overall project consists of four buildings (towers I, II, III and Building H) with a total gross rental area of approx. 70,700 sqm and 1,200 parking spaces.
The Class A office buildings are perfectly connected to the public transport network and offer exceptional quality in the Hungarian office market. All buildings have LEED Gold or BREEAM In-Use Very Good sustainability certification and Access4you certification.