In one of the largest office leasing transactions so far this year, Brookfield has leased 11,232 square metres of commercial office space to Auckland Council at Levels 5 to 11 of 8 Hereford Street, Auckland.
The lease is for an initial three year term and will see the Council consolidate its operational requirements and CBD space shortage through a move from its current offices in Pitt Street and 360 Queen Street. The Hereford Street building spans 15 levels on a campus style precinct with an outdoor plaza and auditorium.
"We are seeing the CBD leasing market strengthen in the post-GFC economy with many companies expanding and engaging the opportunity of relocating to larger contiguous space options. There has been very good demand in the last few months and we expect it to continue," said Kurt Wilkinson, Chief Operating Officer, Brookfield Office Properties Australasia.
Brookfield has now leased 30,000 square metres of its Auckland office portfolio during the first six months this year. This includes Fairfax Media's occupancy of 2,600 square metres in the adjoining Plaza building, new six year leases to the University of Auckland over 70 Symonds Street and 1-11 Short Street, and 3000 square metres leased at Gen-i Tower.
The new office will support the Council's call centres with its state-of-the-art IT infrastructure and will house approximately 500 staff in customer service and Parks, Sports and Recreation.
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About Brookfield Asset Management
Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has over US$150 billion of assets under management and is listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively, and on NYSE Euronext under the symbol BAMA.
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