White Estates Investments has agreed with Commerz Grundbesitz (CGI) on the acquisition of the Atlas office complex located in the center of Amsterdam-Zuidoost for EUR 125 mln. The complex is vacant at present, but the annual rent for the property could reach some EUR 15 mln. Atlas includes five office buildings and 1,682 paring spaces. The total office space comes to about 74,000 m2, whist 1,100 m[sup]2[/sup] is used as show room and 320 m[sup]2[/sup] is dedicated to other purposes.
White Estates Investments has agreed with Commerz Grundbesitz (CGI) on the acquisition of the Atlas office complex located in the center of Amsterdam-Zuidoost for EUR 125 mln. The complex is vacant at present, but the annual rent for the property could reach some EUR 15 mln. Atlas includes five office buildings and 1,682 paring spaces. The total office space comes to about 74,000 m2, whist 1,100 m2 is used as show room and 320 m2 is dedicated to other purposes.
At the moment it is not clear whether the property will remain an office or used for other purposes, such as tourist accommodation, under the new urban planning of the municipality of Amsterdam. Developed in 1983, the office was previously owned by PGGM. CGI bought the complex in 1999 for EUR 136 mln.
