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C&W successfully completes the lease of Torre Ocidente

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The Challenge

C&W was instructed by the consortium Sonae Sierra/ CBRE GI/Iberdrola and CGD to lease Torre Oriente and Torre Ocidente, also known as the Colombo Towers, in two separate phases, on a co-exclusive basis.
Subsequently to the successful lease of Torre Oriente with a total area of 29.000 sq.m, the goal was to lease the second office tower, Torre Ocidente, also with an area of 29.00 sq.m in a difficult market.

The Solution

Given the size of this instruction, we decided to target large occupiers. The initial idea was to lease each floor to a single occupier, a minimum of 2,085 sq.m per tenant. However, due to the difficult market conditions some floors had to be divided in up to four units to accommodate tenant’s requirements. All information was presented directly to the decision makers of potential tenants.
A strategic marketing plan was established which included an interactive area on one of the floors, potential tenants where then identified and teasers where sent to decision makers followed by an invitation to visit the building.
C&W assisted with layouts, implementation and terms of negotiation to be presented to potential tenants, which in turn produced a high level of interest.

Tenants at Torre Ocidente and occupied areas:
- BNP Paribas: 11,154 sq.m
- Manpower: 3,797 sq.m
- Sonae Sierra: 3,744 sq.m
- Arvato: 2,085 sq.m
- Servdebt: 1,773 sq.m
- LusoTechnip: 1,509 sq.m
- Lilly Portugal: 917 sq.m
- WS Atkins: 827 sq.m
- LeoPharma: 575 sq.m
- MTV: 425 sq.m2

The Results

C&W succeeded in adding value with long-term leases and good quality tenants. In turn, C&W was recently instructed, on an exclusive basis, to dispose of Torre Ocidente.