Düsseldorf, 8 April 2019 - The Düsseldorf office agency team of the real estate consultancy Cushman & Wakefield has exclusively acquired new office space for Huawei, significantly supporting the Chinese tech group’s expansion plans in Europe.
Huawei, the leading global provider of information and communications technology infrastructure and smart devices, takes up occupancy of approximately 8,700 m² in Am Seestern 5 in Düsseldorf from August 1, 2019. It is the second largest leasing of space in Düsseldorf this year.
The owner and landlord is a joint venture between Revcap and Kriton Immobilien which acquired the property in Q4 2018 and which is fully leased following this letting. It is the joint venture’s second project in Am Seestern.
Due to especially high current demand from national and international companies seeking large, contiguous rental spaces, the Am Seestern office area in particular is experiencing a renaissance after years of high vacancy rates.
Luisa Rotthaus, Head of Office Agency Düsseldorf at Cushman & Wakefield, said: "We are delighted to have been permitted to exclusively represent Huawei throughout the entire leasing process. As well as procuring the new office space, we also provided Huawei with exclusive support in the pre-lease phase through our Project & Development Services (PDS) department.”
Tom Owen, Huawei Transaction Manager, Cushman & Wakefield Global Occupier Services, said: “It is a great achievement to successfully deliver this transaction in such a competitive market. Our closely coordinated approach with an expertly placed local delivery team ensured that the transaction proceeded with diligence and speed, ultimately ensuring the best possible result for our global client.”
Cushman & Wakefield acted for Huawei. CBRE advised Revcap / Kriton.