Reed Elsevier extends lease and introduces a new workplace strategy
Reed Elsevier and Commerz Real Investmentgezellshaft mbH have agreed on a 10 year lease extension for approximately 20,000 sq m of office space and adjacent parking spaces in The Millennium Tower in Amsterdam (Radarweg 29).
Based on an extensive analysis of the current and possible alternative office accommodations Reed Elsevier decided to stay at the current location. The development of a new way of working made it possible for the Reed Elsevier businesses – Elsevier, Reed Business and Lexis Nexis to significantly reduce the amount of square metres required.
Reed Elsevier is located in Amsterdam Sloterdijk, an area in which many developments are currently taking place and being prepared. It is easily accessible by car and public transport and the focus in the district is on creating a good mix of functions including hotel and residential and adding facilities in the field of catering, retail and leisure.
CBRE acted on behalf of the tenant in this transaction. The real estate advisor was responsible for commercial negotiations, location analysis and the introduction of the new workplace strategy.