Budapest, 28 May 2012 – CBRE Global Investors Hungary announces it has exchanged contracts with Omnicom Group (OMC), the new anchor tenant at Liget Center at Dózsa György út 84/A.
OMC, a leading marketing communication company, has taken a 6-year lease and will be occupying 3,000 sqm of space beginning June, 1 2012. They plan to establish two of its global advertising agencies, TBWA and DDB, and a media service unit within the new space.
Liget Center was refurbished and modernized in 2002. The heritage-listed building is grade A office accommodation and complies with all quality and efficiency needs requested by leading U.S. companies and global market leaders.
Martin Sabelko, Managing Director, Central Eastern Europe of CBRE Global Investors, said, “We are delighted with the performance of the Liget Center. It is an outstanding development by CBRE Global Investors and the latest investment on upgrading the building, its capabilities and standards will be a solid contribution to the business economy in Hungary. The response of top brands like OMC taking space at the Liget Center is testament that we have achieved our aim in developing high- class offices to meet the requirements of our occupiers.”
Balázs Magyar, Head of Asset Management Hungary, added: “This transaction is considered one of the major lettings for 2012 in Hungary. The current market situation in the Budapest office market is challenging, and we are pleased to have secured a tenant such as OMC.”
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $95.9 billion in assets under management* as of March 31, 2012. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG), and harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services company for the benefit of its investors. CBRE has more than 34,000 employees (excluding affiliates) in more than 300 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.