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Case Study

Tenant Representation - Bank of Tokyo – Mitsubishi UFJ - Arsenal Building

Letting of office space 1152 m²
 
The Bank of Tokyo – Mitsubishi UFJ had been tenant in a property located in the Leopold area of Brussels for decades. Due to heavy refurbishment planned by the owner of their premises, Bank of Tokyo – Mitsubishi UFJ decided to investigate the real estate market in order to identify a suitable alternative property. The Bank of Tokyo – Mitsubishi UFJ instructed JLL to find and secure the ideal property available.

Two main objectives were identified by Bank of Tokyo – Mitsubishi UFJ : (1) Identify and secure the property six months prior the end of the lease in their former premises and (2) avoid having to pay double rent during the six months separating the securing of the alternative premises and the end of their former lease.

After a careful scan of the market, JLL has been able to identify a premises located on the edge of the Leopold area. Jones Lang LaSalle avoided Bank of Tokyo – Mitsubishi UFJ to pay for double rent in the alternative premises. Jones Lang LaSalle has also been able to negotiate the avoidance for Bank of Tokyo – Mitsubishi UFJ to reinstate their former premises in its original condition. JLL has also convinced another occupier of the property, active in the banking sector, to cancel their right of exclusivity that prevented Bank of Tokyo – Mitsubishi UFJ to lease the empty floor they are now occupying.

For more information, please contact Bernard Keppenne (+32 2 550 25 25)

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