Cushman & Wakefield in charge of the real estate expansion of the BNP Paribas securities services headquarters in the Art’s building in Lisbon

6 Feb, 2012, Lisbon

Cushman & Wakefield (C&W) was the consulting firm in charge of the expansion of the headquarters of BNP Paribas Securities Services in the Art’s Business Centre in Parque das Nações, in Lisbon. The negotiation was carried out by the asset management department of C&W, headed up by Bruno Silva, being a good example of tenant retention based on the excellent relationship and quality of service.

The bank, with headquarters in the building, property of Credit Suisse Asset Management since 2008, expanded its area circa 4,278m2, totalling an occupied space of 11,357m2.

This expansion of the office area took place following the strategy of consolidation and growth of the services of BNP Paribas Securities Services in Portugal, given the success of the programs in operation in our country. In addition to the creation of a European training centre located in Lisbon, BNP Paribas Securities Services has an operating infrastructure that provides performance optimisation for various customer operations in nine European countries.

According to Armando Sevinate Freitas, Head of Functions at BNP Paribas Securities Services: “The need to increase the occupied area in the Art’s building is the test of the vitality of the project to set up BNP Paribas Securities Services operations in Portugal. Providing new jobs for the enterprise is intended to go hand-in-hand with the effort to grow the company in the international market. On the other hand, conditions are created for the development of the company’s training centre, which will be responsible in the coming years for the training of the company’s new partners at the European level. This wager on Portugal is only possible because of the excellence of the work performed throughout the four years of the branch office’s existence."

According to Fátima Machado of Cushman & Wakefield’s property management department, "Understanding the tenant’s activity is essential for finding the right solutions and services for its business, thus increasing the value. We got the best option for BNP Paribas Securities Services, offering it a space adapted to its size at a competitive price, in one of the most iconic buildings in Parque das Nações. From the owner’s perspective, we consolidated the various existing individual contracts and the new area to be leased into a single long-term contract, lowering the risk and increasing the value of the assets”

Cushman & Wakefield’s asset management department manages currently 31 office buildings and 6 shopping centres, totalling over 310,000 m2 of area and collecting rent in a total of 43 million Euros annually.

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