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News Release


Jones Lang LaSalle’s office leasing department has closed the year 2012 with a significant growth

Budapest, February 12th, 2013 – The Budapest office leasing and tenant representation departments of the international real estate consultant Jones Lang LaSalle, Budapest have closed the year 2012 with a 20% growth compared to 2011. During the year, the company was involved in a large number of office leasing transactions either representing the tenant or the landlord.

The most significant transaction was the lease renegotiation of ING Bank’s and ING Insurance’s headquarters on circa 9,000 sq m. Besides the renegotiation Jones Lang LaSalle’s professionals were also responsible for the project management of the renovation of the office spaces.
In 2012 lease negotiations on behalf of  McCann Erickson, Ericsson and Microsoft were successfully concluded and 2013 has started with tenant representation assignments for approximately 16,000 sq m in total. The first tenant representation transaction of the year has already been signed by Systemax, establishing a new shared service center in Hungary. Systemax is the first SSC company opening new centre in Budapest since the crisis of 2008.

Mária Starmann, Head of Tenant Representation at Jones Lang LaSalle, said: " We anticipate the closing of two large transactions in the near future. As our department has started the year with significant corporate assignments, we expect this year to be busy for our team. Therefore the department has been recently expanded by Brigitta Tóth who joined us at the beginning of February as Senior Consultant. We provide unique Corporate Solutions services to our clients in cooperation with our Project&Development Services department.”
The PDS team of three experts, led by Dr. Gábor Onczay support the work of the Tenant Representation team by offering commercial and technical management for Jones Lang LaSalle’s corporate clients.

In 2012, the office agency team was busy by the leasing of 20+ exclusively represented office buildings which concluded in numerous office leases and renegotiations. The largest transactions were lease extensions: Signal (2000 m2) and Bayer (3000 m2) extended their leases in Alkotás Point. The majority of the leasing activity of the agency was focusing on buildings located in Buda: Cigar Tower (1000 m2, Lisznyai  Office Building), Medicover (1500 m2, Alkotás Point), MoveOne (790 m2, Infopark E). 

Erika Lóska, Head of Office Agency of Jones Lang LaSalle Budapest commented: ”2012 was a challenging year for office landlords but centrally located prime office buildings remained successful, proven by the large number of lease renewals. The 50% of the annual gross take-up was lease renegotiation. This ratio has continuously risen in the last few years. New office completion levels have drastically shrank which is expected to result in decreasing vacancy rate as well as increasing pre-lease activity throughout 2013-2014. I believe our office leasing team – which will be expanding soon – will have another successful year in 2013.

As a result of Jones Lang LaSalle’s ongoing professional innovations our new online office portal, was published in January. The majority of the high quality office buildings in Budapest can be found on the site which is going to be continuously updated and amended. Our independent professional office portal will provide valuable support for corporations looking for new office.
The expansion of our team guarantee that we are able to fulfil the requirements of our Clients on a superior level and introduce further innovations to help maintaining the highest quality of cooperation with our Clients.”