CBRE Global Investors has let approximately 2,000 sqm to Huawei Technologies and extended leases with Borealis AG, an international plastics and chemicals group, and Zumtobel Lighting Austria GmbH, at its flagship IZD Tower in Vienna.
The 65,000 sqm property is the largest office tower in the city and has recently been extensively refurbished with new common space, entrance area and a car park. In addition, a new corporate design, website and guidance systems have also been introduced.
The 39-storey IZD Tower, with an adjacent six-storey building was acquired in 2016 by CBRE Global Investors on behalf of Korean separate account clients. It is located in the dominant office district of Donau City in Vienna and has an occupancy rate exceeding 90%.
Anchor tenant, Borealis AG has increased its lease by 600 sqm to a total of 7,000 sqm. During the past 12 months over 10,000 sqm has been renewed and leased-up.
Christian Koppensteiner, asset manager for the IZD Tower said: "The landmark building attracts high profile and international companies and has an exceptional level of tenant retention. Our continuous and state-of-the-art asset management positions IZD Tower as one of the most sought after high-rise buildings in Vienna.”
The Tower is also home to EY, Estee Lauder Cosmetics GmbH and Austrian Power Grid AG. IZD Tower has convenient access to the A22 and public transport offers fast connections to local and national transport infrastructure.
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About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $98.3 billion in assets under management* as of September 30, 2017. 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). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.