A long-term anchor tenant could be found with the Pictet Group for the prestigious commercial property Bahnhofstrasse 32 in Zurich. JLL thereby acted as exclusive advisor to the owner Swiss Prime Anlagestiftung
News release
24 May 2018
JLL leases around 8,000 m² in the landmark building «Leuenhof» in Zurich to the Pictet Group
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A long-term anchor tenant could be found with the Pictet Group for the prestigious commercial property Bahnhofstrasse 32 («Leuenhof») in Zurich. JLL thereby acted as exclusive advisor to the owner Swiss Prime Anlagestiftung ("SPA").
The unique property is located in the heart of the city of Zurich on the famous Bahnhofstrasse in close proximity of Paradeplatz. The Pictet Group will lease all offices on the upper floors and will also take over the historic, fully functional vault in the basement. In cooperation with the department for preservation of historical buildings and the renowned architect Tilla Theus, the SPA plans to carry out first gentle renovation work, which is expected to be completed in summer 2020. After completion, the magnificent customer hall will be open to the public again.
The letting success at Leuenhof underlines the increasing improvement of the office vacancy situation in Zurich’s CBD. The supply of available space in districts 1 and 2 in the centre of Zurich decreased in Q1 2018 from 67,300 m² to approximately 61,200 m², or 3.9% of that area’s total stock of office space. While the CBD’s occupier market in general remains tenant friendly, the availability of large floor plates is becoming increasingly tight. However, office vacancies in the entire Zurich region, especially in the Zurich North area, should remain higher for longer given the ongoing expansion of the office stock.
The JLL leasing team consisted of Jan Eckert, Anita Bleiker and Andreas Jordi.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.