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(Alliance News) - CLS Holdings PLC said on Thursday it has secured five significant new leases for its properties across Germany.
The leases amount to 91,865 square feet in buildings located in Cologne, Essen, Berlin and Munich.
On a combined basis, the five leases were completed at 2% above their estimated rental value.
The first is a ten-year lease with the German federal state of North Rhein-Westphalia for 35,908 square feet of space in Cologne. It is a multi-let property and is located in the Cologne Airport Business Park.
The second lease is on a ten-year term with an educational institution at The Brix, an office building, in Essen. The Brix was acquired by CLS in April with 28% vacancy and is now over 90% let.
The third lease is a seven-year lease with Humboldt University in Berlin. The final two are for 13,719 square feet of office space in Berlin and Munich.
Shares in CLS were down 0.5% at 205.39 pence on Thursday in London.
By Heather Rydings; heatherrydings@alliancenews.com
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