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JLL celebrates good 2018, contribution to yearʼs biggest deal

Office Market

Commercial property and investment management firm JLL has celebrated the closure of a successful 2018, including its contribution to a "mammoth," 56,000 square-meter deal during the year, according to a press release sent to the Budapest Business Journal.

JLL Managing Director Ferenc Furulyás

In 2018, the total area leased by JLL Office Groupʼs landlord and tenant representation services added up to 55,060 sqm, with the number of deals increasing by 150% compared to 2017.

In 2018, the largest office leasing transaction of 20,400 sqm was listed by JLLʼs tenant representation, representing evosoft Hungary Kft., owned by Siemens. The division currently has total leasing activity of nearly 40,000 sqm in Budapest.

JLL says that 2018 was also successful with regard to landlord assignments, as beyond representing the buildings of Immofinanz, Diófa Alapkezelő and Exchange Palace, the agency won eight new office leasing mandates, including Budapest ONE, Green Court Offices, River Estates, KI 20, Medimpex Palota, and the fully-leased Centrál Office Building. JLLʼs current office portfolio stands at 309,000 sqm, representing 15 premium office buildings.

Also in 2018, JLL represented the seller, Futureal Group, in the disposal of the Corvin Offices of a total size of 80,000 sqm, which was also the largest office investment transaction in Hungary so far. In addition, the companyʼs division took part in last yearʼs largest investment transaction, in which JLL advised the buyer, NEPI Rockcastle, in buying the 56,000 sqm Mammut Shopping Center.

"Our results of 2018 also confirm that the cooperation between business lines is working out effectively and our long-term goal is to apply this in an optimal way in order to serve our clients," said JLL Managing Director Ferenc Furulyás.

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