GE Hungary's energy division has leased a total 6,300 m[sup]2[/sup] of space at the East Gate Business Park (EGBP) that is being developed in Budapest by Wallis Real Estate Zrt. GE was advised by global real estate consultant Cushman & Wakefield.
GE Hungary's energy division has leased a total 6,300 m2 of space at the East Gate Business Park (EGBP) that is being developed in Budapest by Wallis Real Estate Zrt. GE was advised by global real estate consultant Cushman & Wakefield.
The company will occupy some 3,300 m2 of warehouse and manufacturing space and another 3,000 m2 of office accommodation in the built-to-suit facility, which will be handed over in the fourth quarter of 2008. GE, which already had a lease agreement for 3,100 m2 of space in another building at the East Gate, will move into the new property when completed later this year.
East Gate Business Park (EGBP) is a modern business and logistics centre on a 36-hectare site. Total investment for the 140,000 m2 warehouse and office area will come to HUF 22 bn (EUR 83 mln). The park serves the needs of multinational companies, light-industrial and manufacturing enterprises engaged in logistics and warehousing, as well as logistics service providers. Major existing tenants include Volán bus, Phoenix Pharma and Philip Morris Hungary.