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News Release

Prague

Jones Lang LaSalle leases 5,617 sq m of office space in Gemini B in H1 2009– three units remain available


Prague, 1st July 2009 – Jones Lang LaSalle is pleased to announce that it has secured lease agreements with four other business partners, totaling 5,617 sq m of office space in the project Gemini B. Only three units now remain available in this project, which is developed by Immorent Czech Republic. 

“The fact that even during these challenging times offices in Gemini B are leased without difficulty goes to show that prime products will always be in a better position, in terms of their location, than any other properties. All of the tenants that have been signed during this half year, namely Česká asociace pojišťoven, Česká kancelář pojistitelů, Novartis and an international security company, took over a year to select their new seat. For instance with Česká asociace pojišťoven and Česká kancelář pojistitelů we began the search for new premises already in November 2007. We assisted each and every tenant during the selection of their new seat and the fact that the decision-making process, as well as the lease negotiation, took over a year shows that the current tenant is carefully considering his options. This also proves the fact that the crisis has brought about a trend of greater cautiousness, as well as raised awareness on the part of the tenants. Tenants considering relocation embark on the project considerably in advance and in addition to this, they carefully consider their options from the very first stages of the selection process. The insight of the tenants can be explained by the fact that many of them are not relocating for the first time and, hence, already have previous experience with certain complications associated with their previous relocation,” explains Eduard Forejt, Head of Office Agency at Jones Lang LaSalle.    
   
“With the signing of these tenants, only three office units now remain available, which considerably limits the offer of available prime products in the area of Prague 4.“ Miloš Kocián, Senior Consultant, Jones Lang LaSalle adds.