In Contern, Luxembourg, a new lease agreement has been signed to partly replace the present tenant IEE International Electronics & Engineering SA, which has announced his decision to move to a newly built campus in 2020. Since, the Fund has been actively looking for new candidates for the office area of 3’224 sqm and the warehousing unit of 2’307 sqm.
AB European Real Estate Fund is proud to announce that a new lease agreement has been signed with the City of Luxembourg (SIGI – Syndicat Intercommunal de Gestion Informatique) which will occupy the office area of the property, representing ca. 70% of the total rent revenues generated by this property. The lease agreement has been signed for an initial period of 6+3 years.
Site visits are organized to let the warehouse part of the premises as well in due time.
In this transaction, the fund was advised by EY and Inowai, which is also acting as Property Manager of the property.