Multi Corporation sells NOS headquarters in Lisbon

Multi Corporation completed a deal with a private Asian investment fund for the sale of the building where the headquarters of the telecommunications and entertainment group NOS are located in Lisbon’s Campo Grande district, one of the largest transactions involving a single asset in the office market this year. The seller was advised by JLL, and the amount involved was not revealed.

Developed by Multi Corporation specifically to accommodate the headquarters of this Portuguese corporation, the building was constructed in 2012 and totals 11.321 m² of offices distributed across eight floors, complemented by 581 m² for retail on the ground floor and underground parking for 557 vehicles, 166 of which for public access and managed by Empark. NOS takes up 95% of the area, with the remaining space occupied by five other tenants, among which Caixa Geral de Depósitos and Empark.

 “Prospects for the evolution of take-up in the Lisbon office market are quite encouraging, which was also an attractive factor in the deal. The positive performance of this market has encouraged investor confidence in rental growth, thereby driving demand for this type of assets for investment”, comments Tiago Girão, consultant at JLL Capital Markets.