Summer starts exceptionally well for AEW Europe

2012.06.16 12:46

MOM Park Offices are becoming a favourite of marketing and creative agencies
AEW Europe, one of the leading European real estate investment manager, successfully closed two major lease transactions at MOM Park Offices during the past few days.

Young & Rubicam, a dominant player in the advertising industry, extended their
lease on more than 1,000 m2. The international advertising agency has been a tenant of the impressive office building in Buda since 2003, and their decision to remain in the building is clear proof of their satisfaction with MOM Park Offices. “Central Buda is one of the most oversupplied submarkets of the Budapest office market where both older buildings and newly built offices are competing aggressively with each other. In this tense market environment we are particularly delighted that such a well-known company as Young & Rubicam still feels that MOM Park Offices is the best location for their business.”- said Isabelle Clerck, Head of Asset Management Central Europe at AEW Europe.

The success of the building is further reflected by the fact that six companies (Mindshare, Mediacom, Mediaedge, Maximize, Maxus and Portland) of the world’s leading media investment management group, WPP, also decided to choose MOM Park Offices as a result of the mutually beneficial agreement between the landlord and GroupM. The Hungarian subsidiaries of WPP, which has 81 offices around the globe, leased altogether 2,300 m2 of office space. The high-quality environment of MOM Park Offices, which specifically stimulates creativity and innovative thinking, played an important role in the companies’ decision.

“GroupM was looking for an office building which constantly inspires its professionals and does not limit them. MOM Park is ideal in this respect, since the building offers unblemished quality; all necessary services are available in the shopping centre, a sport centre and a beautiful park in the immediate vicinity help to unleash the ideas. It is no surprise that the occupancy is increasing and 20% is now occupied by marketing and creative agencies alone”- added James Berry Head of Transactions at Jones Lang LaSalle.

Source: Jones Lang LaSalle
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