Caerus IM – Asset Manager of Futurama Business Park, directly negotiates Prague’s largest office lease for 2019 with Clearstream Operations (a subsidiary of Deutsche Börse Group) for 17,500 sqm over 10 years.
Prague, 24th June 2019 –Caerus IM as asset and property manager to Futurama Business Park is pleased to announce directly negotiating what is believed to be the largest office leasing transaction for 2019 in the Czech Republic, having signed a new 10 year 17,500+ sqm lease with Clearstream Operations (Prague) s.r.o. – an AA long-term rated, wholly owned subsidiary of Deutsche Börse Group.
Having been a tenant of the property since the first of its three phases were built in 2009 and gradually expanding their presence since that time, Clearstream had grown to be over a third of Futurama’s leasable area. Accordingly, when it came time for Clearstream to formulate its long-term occupational strategy for Czech Republic, it had multiple competitive options to consider from competing landlords keen to attract such a high-calibre international tenant. In particular, from motivated developers offering newly constructed projects, but which Futurama due to its high construction quality, world-class building technologies and location, was able to more than defend against.
Furthermore, Caerus IM was able to respond to Clearstream’s occupational requirements in a pragmatic way and devised a plan to consolidate their fragmented presence across the business park into two main buildings in order for them to achieve their desired efficiency gains. Hence their decision to remain and to enter into a new long-term expanded lease was testament to both the overall quality of the property but also to Caerus IM’s flexible and responsive approach to asset management and tenant engagement.
Christopher Millen, Managing Director of Caerus IM said: “As an international tenant that maintains a long-term AA credit rating, retaining Clearstream was naturally of high importance. However, such lease still needed to be concluded on economic terms that made sense for both parties. While large tenants often have overly strong bargaining power, our lengthy negotiation process of over 9 months eventually resulted in a balanced set of lease terms that worked for both lessor and lessee. Those economic terms together with the mix of construction quality, architecture, location, green-scaping and the community style tenant activities we arrange as a professional manager, ultimately swayed them to stay with us.”
Other recent leasing successes directly concluded by Caerus IM within Futurama Business Park include Peyton Legal, Ataccama Software, Benteler, Doosan Lentjes, Algotech, CEZ and Mercuri International which in aggregate amounts to an additional 3,700 sqm of new leasing and renewal activity.
About Futurama Business Park
Futurama Business Park is located in Prague 8 (Karlin) and is Prague’s preeminent commercial office complex providing 45,000 sqm of Class A office space over 5 levels to over 40 high-quality international and local tenants. Consisting of five separate fully leased office buildings with an average office floor plate of 1,500 sqm, together with an eye-catching front retail building, the buildings are connected by an architecturally impressive central paved promenade with shallow serenity pools, accented by landscaped gardens that provide year-round colour. As a result of the new Clearstream lease and other recent leasing activity, the unexpired lease term of the property now exceeds 6.50 years. For more information visit www.futuramabp.cz