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Two new tenants allow South Base occupancy to reach 50%

Two new tenants have signed a rental agreement for a part of building ’B’ of South Base project, Dunaharaszti. With these transactions, the occupancy rate of the project exceeds 50%.

One of the tenants of South Base Project, Dunaharaszti is Rapala Eurohold Kft – a company with Finnish background, dealing with fishing outfits, who has removed its warehouse here from the 11th district; the other is Reining Kft – a transportation and logistics company with Dutch background – whose primary preference was the location.

“In both cases, one of the main tendencies of finding the appropriate property was a kind of modernization: to move from the older class ’B’ / ’C’ building to a good-quality, high-standard class ’A’ building, offering suitable conditions to facilitate the storage process” – said Andrea Pusztai, Associate Director of Industrial Agency at Colliers International.

South Base Project is a newly built warehouse and office complex, located in the Northern Industrial Park in Dunaharaszti at the junction of road Nr. 51 and the M0 ring road. Three phases have preceded this project within the park area, where a total of 38.000 sqm area warehouse buildings have been built for companies such as Gebrüder Weiss /Hungaroweiss/ and Törley /Henkell & Söhnlein/.

The owner of the project is IPD Group ( IPD started its business in Hungary about 16 years ago and has completed several similar industrial and office development in Budapest and its vicinity (XXII. Nagytétény, XV. Késmárk utca, Biatorbágy, etc.). Despite the difficult economic situation in Hungary, IPD let out 15,000 sqm of space (including this transaction) in the first half of 2010. Since 2007 IPD has also been active in Bosnia and Herzegovina, developing a modern shopping center in Sarajevo.

Colliers International participated in closing the lease transaction as the landlord’s exclusive agency. (BBJ)