CA Immo: Morgan Stanley expands and extends 20,000 sqm lease contract in Millennium Towers, Budapest

The lease prolongation – including an additional 1,700 sqm expansion in Millennium Tower II building – is the largest rental renewal transaction in Budapest within the last 5 years

The Millennium Towers office buildings offer a modern, centrally located office environment on the riverbank of the Danube in the heart of the Millennium City Centre, with a total rental space of approx. 70,700 sqm and 2,000 sqm green area. With the newly signed lease, Millen-nium Tower has an occupancy rate above 90% with a WAULT of 4.7 years from a balanced mix of industry-leading corporate tenants.

Judit Varga MRICS, Managing Director of CA Immo Hungary: “We are proud of our long-term relationship with this renowned blue-chip company, which has now been our tenant at Millennium Towers for more than 15 years. To make sure our buildings meet the high re-quirements with regards to the well-being and a healthy productivity of our tenants, we´re constantly improving and refurbishing both their interiors and their surroundings. We are pleased that the recent renovation of Millennium Tower I and the opening and revitalization of Millennium Park have been very well received by our tenants.”

Tamara Szántó MRICS, Partner, Head of Office Agency at Cushman & Wakefield Budapest added: “Representing Morgan Stanley in Hungary for nearly 20 years has been an incredibly exciting journey. We are delighted to have assisted them again, in renewing their office space in Budapest. We are confident that Millennium Towers is still the ideal location for a major corporation like Morgan Stanley and will continue to serve as their long-term office accommodation.”

The Millennium Towers office complex is located at a prestigious site on the banks of the Danube, offering a panoramic view of the Buda hills south of CBD in the 9th district. The overall project consists of four buildings (Towers I, II, III and Building H) with a total gross leasable space of approx. 70,700 sqm and 1,200 parking spaces. The complex is surrounded by Millennium Park, a nearly 2,000 sqm green recreation area that offers a diverse year-round program of outdoor activities for employees and residents. The area also offers a wide range of services and shops, such as cafés, restaurants, a fitness centre, hairdresser, pharma-cy and drugstore, and is a high-profile address for corporate occupiers.
The Class-A office buildings are perfectly connected to the public transport network and represent an outstanding level of quality on the Hungarian office market. All buildings have LEED Gold or BREEAM In-Use Very Good sustainability certification as well as Ac-cess4you certification.

Cushman & Wakefield acted as agent and advisor on the deal on behalf of Morgan Stanley.

As of 31 December 2023, CA Immo's Hungarian portfolio consisted of eight office buildings in Bu-dapest with a total lettable area of around 180,000 sqm and a book value of around €382 m. All Hungarian buildings have BREEAM-In-Use Very Good or LEED Gold sustainability certification.

CA IMMO