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New Tenant in Wing’s Hungária Office Park Development

Office Market

Image: Wing.hu

Another significant tech company has chosen Hungária Office Park (HOP), a Wing development. Lightware Zrt. is moving its headquarters to the park in fall 2023, to a 7,000 sqm office building, which will be fully renovated by Wing to suit 21st century needs and all the tenant’s special requirements, according to a press release sent to the Budapest Business Journal.

Wing, a major property development company in the Central-European property market, has signed a long-term lease agreement with Lightware.

The tech company will be moving to a 7,000 sqm building in Hungária Office Park in two stages, in fall 2023 and in early 2025. The new, category ‘A’ headquarters of Lightware will be in the park’s Building 7, on the corner of Semsey Andor utca and Gizella út.

In addition to standard office functions, the building will have an engineering level for product development and a logistics base that can serve global customers.

Wing was represented by an agency, Eston International, during the lease negotiations.

"Our group is always working on new developments in Hungária Office Park: our goal is to create a tech office park that provides quality solutions for all the office needs of the professionals working here and that also meets the special technical requirements that tech companies have regarding their leased properties. We can proudly say that we have achieved this: we are happy to have Lightware as our newest tenant," said Gábor Angel, Wing’s deputy CEO for Office Developments.

"Lightware has signed a long-term agreement for the lease of offices, production, and warehouse areas on a total of 7,000 square meters, and the company will make use of the wide range of functions we offer in the park. With this agreement, the complex now has a nearly 100% occupancy rate, and this development will also enhance the overall quality of the building stock. This will form the basis for constructing several new buildings in this development," he noted.

"We’re pleased that, having spent quite some time looking, we’ve finally found Hungária Office Park. We were looking for a place that is suitable for our assembly and production plant and supports logistics, in other words, a site where we can receive incoming raw materials and manage the shipping of our products simply and easily. Other important factors were to find a site where we can create a suitable and inspirational environment for developers and provide office workers with comfortable, modern, and friendly spaces," said Loránd Gál, COO of Lightware Zrt.

"Also, we needed a central location for our new headquarters that’s easily accessible for our employees and close to our current site, one that offers similar services thanks to the proximity of Városliget, the City Park. Another consideration was to have the option to expand further. Our company is growing dynamically; our headcount has doubled over the past 2 years, so it was important that we will be able to add new workstations to our new headquarters in the future. We wanted a work environment that employees love, a place where they like to come to work. We weren’t ready to compromise and, fortunately, what HOP and Wing offered met almost all our needs, and now we can’t wait to move into the new building," he added.

"This transaction goes against current market trends from several points of view: it’s a new lease agreement, it’s about 7,000 square meters, and all this in an emerging sub-market," said Adorján Salamon, CEO of Eston.

Hungária Office Park’s tenants include major companies, mostly from the tech sector, like Siemens, TÜV Rheinland, and TK Elevator, and now Lightware is joining this community.

Lightware’s main focus is audio-visual technology; it develops and manufactures high-quality data transmission devices. With its size and production capacities that serve customers globally, it is a welcome addition to the innovative companies in the Park that produce high-added value and employ highly qualified people. What makes the property unique is that it provides a technology and office environment at the same location, in downtown Budapest. The developer, Wing, will strongly focus on meeting all the needs of such tenants in HOP in the future.

Hungária Office Park is located at a major junction on Hungária körút, near City Park. It’s a 10-minute drive from the city center and it is easily accessible from almost everywhere in the city. It’s a complex of seven mixed-use buildings on 3 hectares, with a green inner park, where existing buildings are being renovated and new developments can also be launched.

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