Fabege and JM have signed a lease agreement for 6,526 sqm in the office project Kvarter 1, property Ackordet 1. The lease is for 6 years, with an annual rent of almost SEK 25m excluding supplements. JM is expected to move in during the third quarter of 2024.
Haga Norra is the next major development district in Arenastaden, an area that provides as much inspiration and as many experiences outside the office as inside. The construction of Kvarter 1 began in 2021 and it covers 27,000 sqm. Fabege’s total investment in the project is estimated at approximately SEK 1.4bn. The property is in the process of being certified according to the BREEAM-SE, level Excellent.
- “We are very much looking forward to moving our head office to Kvarter 1 in Haga Norra, which will offer our employees an inspiring and flexible working environment, as well as access to excellent public transport links,” says Malin Lundgren, Director of HR at JM.
The occupancy rate for the project now amounts to 30 percent as a result of this lease agreement.
- “JM’s decision to move to Kvarter 1 provides further evidence of the continuing strong demand for modern office space in Arenastaden, and the great attractiveness of this part of the city. Our goal is that the project will have 100 per cent occupancy agreed when it completed in the second half of 2024,” says Johan Zachrisson, Director of Business Development at Fabege.
The agreement with JM was signed in December 2022, with an associated condition regarding the sale of land in Huvudsta, which was announced today. Net lettings for the fourth quarter 2022 totalled SEK 17m.
- “All four quarters of 2022 had positive net lettings and for the full year it was SEK 86 million,” says Stefan Dahlbo, CEO of Fabege.
The development of Haga Norra started in 2017 and comprises a total of 70,000 sqm of commercial premises and 1,000 homes. Bilia was the first tenant to sign an agreement, for its office and showroom. In addition to office space, the lease agreement with JM in Kvarter 1 also includes storage space, charging points and a bostadsbutik (showroom for prospective buyers of apartments). During last year, an agreement was also signed with SATS for 1,357 sqm of gym space in Kvarter 1, with occupancy expected to start in the fourth quarter of 2024.