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Media Markt leases 2,888 sqm in city’s BC140 Office Building

Office Market

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Cushman & Wakefield, representing a German fund, has successfully closed a long-term lease agreement with Media Markt extending to 2,888 sqm of office space and 50 parking spaces, at the BC140 office building in Budapest, equating to an increase in occupancy rate of 16% at the building, according to a press release sent to the Budapest Business Journal yesterday.

German Media-Saturn-Holding GmbH operates a total of 24 Media Markt stores in Hungary, which are now managed from BC140, on the popular and fast developing Váci office corridor in Budapest. The German company, founded in 1961, has its headquarters in Ingolstadt and comprises three independently managed retail brands Media Markt, Saturn and Redcoon. 

“After a detailed search of the market, we are very happy to have acquired space at BC140,” said Csongor K. Német, CEO of Media Markt Saturn Holding. “The location and profile of the building fit perfectly with our long-term plans, as we continue to develop our brand and serve our clients,” he added.

“We are delighted that Media Markt selected BC140 for its long-term office solution in Budapest,” said David M. Johnston, partner and head of office agency at Cushman & Wakefield. “This is a sizeable transaction in the current market, and the constituent terms were mutually beneficial for both Media Markt and the landlord. This transaction increases the occupancy of BC140 to a respectable 71%, and we are confident of further transactions in the short-term as Váci út continues to be the most sought after office location in Budapest,’’ he added.

MOM Towers receives BREEAM ‘Very Good’ in-use accreditation

Budapest office property MOM Park Towers has recently been awarded BREEAM “Very Good” in-use accreditation. Constructed in 2000, and extending to 13,500 sqm over three buildings, MOM Park Towers has a strong mix with international names including Cisco Systems, Novell, and GlaxoSmithKline.

“MOM Park Towers continues to prove extremely popular with tenants, which is demonstrated by its impressive occupancy rate of 98.2%,”Johnson said. “The landlord has recently renewed several of its key tenants, which ensures that this asset will perform securely over the next years. Currently, we only have a 250 sqm suite left at the property, which we are in discussions with third parties over, meaning an occupancy level of 100% could be achieved in the short-term,’’ he added.

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