Airport Plaza Campus

Location
Diegem (Brussels)
Belgium

Sector
Office

Size
36,000 sqm

Under Management
2015 - 2017

Achieving full occupancy by capitalizing on superior office space and top-notch facilities in comparison to other properties within the same submarket

Our team sourced Airport Plaza, a Grade A institutional quality office asset located adjacent to Brussels airport, for an institutional investor. 

This property was part of a portfolio of eight Class A/B office buildings acquired off-market from a closed-end real estate fund in a complex multijurisdictional transaction.

Airport Plaza consisted of five interlinked Grade A office buildings constructed in 2012, certified as BREEAM Good, and featuring high energy efficiency. Each building had a separate entrance hall that connected to a central hub gallery, providing tenants with two cafeteria/restaurants, four fully equipped shared meeting rooms, a concierge, and a mini boutique.

Located in the east Brussels municipality of Diegem, adjacent to Zaventem, the property offered excellent accessibility by car, thanks to its location next to the Brussels ring road and E19 highway to Antwerp.

Our team's objective was to maintain the leasing momentum for this property, which offered the highest quality office space and the best facilities in the submarket. We successfully leased 4,300 sqm of office space, increasing occupancy from 86% to 98%, and gross rent grew by 21%. 

Our team utilized their knowledge of the market and existing relationships to secure the deal off-market and their pan-European expertise to manage the complexities of the deal structure. They recognized the potential of Airport Plaza, executed a successful business plan, and sold the property to an institutional investor after achieving increased occupancy and rent.