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Case Study

Tenant Representation - Wyeth Pharmaceuticals

Acquisition 6.000 m²
Built-to-suit building 

Wyeth occupied a freehold building located in the scientific park of Louvain-la-Neuve. The building did not correspond anymore to the comfort level and techniques that one can expect from a modern office building.

The 3 main ojectives were to determine long term real estate requirements for Wyeth, to identify suitable building alternatives to accommodate the long term requirements and to sell the current freehold building immediately after the move of Wyeth in its new premises.

Giving the requirements from Wyeth it became soon clear that the only building that would best meet the requirements would be a "built-to-suit" project. Jones Lang LaSalle selected a list of developers who would be willing to construct such building for Wyeth. The team also negotiated the full technical specifications of the required building and managed to sell the new building directly to an investor who has signed a twelve years leasing contract with Wyeth at very attractive rental terms and allowing full recuperation of the VAT. Finally, Jones Lang LaSalle negotiated the sale of the existing Wyeth building to the developer of the new building.

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

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