IKEA signs long-term lease with C&W

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press release

Swedish furniture company IKEA signed a long-term lease for its new external pick-up facility in Tulipán Park Biatorbágy, owned by Logicor, with global real estate advisor Cushman & Wakefield (C&W) acting exclusively on behalf of the landlord in the lease transaction for over 5,200 sqm of warehouse and 650 sqm of office and client areas, C&W said in a press release yesterday.

IKEA moved in November into the facility, which is located in Biatorbágy, in the core catchment area of Budaörs – a move that was determine by IKEA’s real estate policy, which outlines the distance and drive time required from the capital. The 29,500 sqm Tulipán Park is located on the western outskirts of Budapest at the junction of the M0 ring road and the M1 highway.

“We are delighted to have completed such a significant leasing deal in our exclusively represented industrial park. Both IKEA and Tulipán Park symbolize top of the range quality in their business and hence are a perfect match for long-term cooperation. IKEA’s specific fit-out requirements were indeed a challenge, however we have managed to deliver a unique and tailor-made tenement for them,” said Gábor Halász-Csatári, head of Industrial Agency at C&W Budapest.

“It is a very big success for Logicor, that as a new market entrant we have secured such an important international tenant as IKEA. We hope that our flexibility and stable background accompanied by C&W’s professional approach will help the remaining vacant areas to be leased up quickly,” Bartek Mierzwiak at Logicor said.

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