Spring Brings Renewals to Dorottya Udvar

Biogen Idec Magyarország has renewed its office lease in Dorottya Udvar, comprising 28,500 sq m of class A office space managed by AXA Real Estate. The Hungarian affiliate of world’s oldest independent biotechnology company now occupies an office area more than two and a half times the size of its previous premises. Simultaneously, Emtrek, a training, consulting and business development company has also renewed its lease contract in the building.

Commenting onthe transactions Jake Lodge, Head of Asset Management CEE at AXA Real Estate said: ”We are pleased to have agreed lease renewals with two of our key tenants at Dorottya Udvar.  These renewals are a testament to not only the long and successful partnerships that we aim to create with our tenants, which is all the more important in the current competitive and challenging office market, but also the quality of the space that we offer.”

Judit Varga, Head of Office Agency at CBRE Budapest representing Dorottya Udvar added: “These renewals demonstrate that a high quality building with attentive management and a pragmatic landlord can retain its tenants even under the difficult market conditions that we have witnessed in recent years. We are also pleased that Biogen Icec not only renewed their lease, but also increased their space considerably.”