An integrated solution made under RE-Generation by JLL, anchored around a deep and transversal market knowledge and experience, allowed for an efficient transaction with reduced risk for the investor and the right solutions for the tenants.
Lisbon, Zone 3: New Office Area
6.630 sq m
We implemented an integrated solution under RE-Generation by JLL. RE-Generation is anchored around a deep and transversal market knowledge and experience, which allows for an efficient transaction with reduced risk for the investor and the tenants' right solutions. JLL applied RE-Generation to sell the building and find the right investor. The investor proceeded to develop and implement the strategy. The implementation included leasing the entire building for office space, renovating it fully under JLL's supervision. Due to the good feedback, tenants requested JLL to make work on their fit tour.
- Development: Advice on asset transaction. Selling the building on behalf of the previous owner, the Portuguese Red Cross, for 16 Million euros.
- Office Leasing: Exclusive mandate for the lease of offices.
- PDS: Provided Project Management/ Cost Management services, including H&S coordination, on landlord side, for the fit-out of the entire building, including the facades and coordination with the tenants spaces’ fit-outs.
- TETRIS: Performed the refurbishment and modernization of the building on behalf of the landlord and fit out of the tenant spaces
Development & Outcome:
JLL identified the opportunity to partially rectify the shortage of quality spaces in Lisbon. While the previous owner did not intend to allocate the asset for a rental use, JLL identified (i) investors looking for investment opportunities and (ii) tenants looking for large and quality office spaces.
The multidisciplinary JLL team led to a capital markets transaction with reduced investment risk, as the buildings was already pre-let before its final deed and the leasing of quality & refurbished large spaces.
The quick and efficient solution by JLL led to rent levels c. 20% above existing market rents, while it also boosted the microarea of the asset, which is now a key office location in Lisbon.