5 Aug 2021
M7 Real Estate completes a number of new lettings and lease renewals at Mani Business Centre, Zagreb
M7 Real Estate (“M7”), the pan-European investor and asset manager specialising in multi-tenanted properties, announces that it has achieved 97% occupancy at Mani Business Centre, a 13,915 sq m multi-tenanted office building located in Zagreb.
Mani Business Centre was acquired by M7 on behalf of M7 CEREF I in December 2016. Following the purchase a number of major tenants did not renew their leases upon expiry due to the negative market perception of the asset; just 12 tenants remained resulting in occupancy of 54%.
Over the past years M7 has continued its focus to improve the reputation of Mani Business Centre through responsive and proactive tenant and leasing management and re-engaging with the existing tenants to improve relationships and communications. As a result, M7 has extended lease agreements with four of the long term tenants and signed nine new leases. The asset is now 97% occupied with 32 tenants.
Mirta Ceranac Poljak, Managing Director of M7 Croatia, commented: “We are very pleased with the lettings at the Zagreb Mani Business Centre. Such successes, particularly in the current environment, demonstrate that M7’s local market knowledge, dedication, good asset management and tenant care lead to a successful outcome. We anticipate that the small amount of remaining space will be let in the near future.”