Vastint lets 12,000 sq. m. of office space in Amsterdam Zuidoost to ING
Vastint Netherlands have signed a lease with ING Bank for approximately 12,000 sq. m. of office space spread over two buildings on Hullenbergweg in Amsterdam Zuidoost. The lease also includes 160 underground parking spaces. The complex on Hullenbergweg, which consists of three office buildings, is now almost completely leased. ING Bank will move into the building this summer.
In autumn 2016, Vastint bought the three office buildings, which consist of nearly 20,000 sq. m. in total, for redevelopment. At the start of 2017, Vastint also bought the adjacent building (5,600 sq. m. in total), located at Hullenbergweg 1-3. Over the next few years, Vastint will renovate and redevelop all these buildings. The office building that ING will move into was completed on 1 February.
The building had been empty for years when Vastint bought it. Our rental property team cooperated with Vastint to develop a clear vision and rental strategy for the building, which resulted in this transaction. We even managed to reach a new rental price level, which has set a new standard for this area. Our team is very proud of this achievement.
A courtyard is being created for the three existing buildings, which will connect them to the surrounding area. Vastint always aims to achieve the highest possible energy ratings when renovating a property, and these offices will be given the BREEAM Excellent rating and the A+ energy label.
CBRE worked closely with Van Dijk & Ten Cate to advise Vastint during this transaction. Houthoff was responsible for the legal guidance. ING Bank was advised by Redept, Allen & Overy and JLL.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.