Cushman & Wakefield has represented BlackRock, the world’s leading asset manager, in its 3,500 square-meter office lease transaction at GTC White House in Budapest, due for completion in Q1 2018, says a press release sent by C&W to the Budapest Business Journal.
BlackRock will initially lease 3,500 square meters at the building, located at Váci út 47, with an option to extend to 7,700 sqm, starting in April 2018, said the press release from global real estate services firm Cushman & Wakefield.
“BlackRock is one of the most impressive new market entries that Budapest has won over the last few years, and their decision to enter Budapest clearly demonstrates the strong market fundamentals of the city,” said Gergely Pados, Managing Partner at Cushman & Wakefield Hungary. “BlackRock have not only secured a long-term option at GTC White House, which meets all their corporate needs, but have also secured temporary space at Duna Tower, which allows them to organically grow until GTC White House is finished.”
“We were extremely thorough while selecting our Budapest office as we wanted it to reflect the innovative culture of the company,” commented Melanie Seymour, Managing Director and Head of BlackRock Budapest. “GTC White House ticked all the key boxes for us, including location, building infrastructure and amenities, as well as capacity to accommodate future growth,” she added.
BlackRock also mandated Cushman & Wakefield with project management and office fit-out tasks.