Stoneweg European REIT (SERT) has secured the renewal of nearly 27,000 square metres of office leases with two major tenant-customers in the Netherlands and Poland.
The renewals involve Coolblue BV, a leading Dutch e-commerce company specializing in consumer electronics, and Motorola Solutions, a global leader in public safety and enterprise security, the REIT disclosed on 24 April.
These lease agreements, which secured close to EUR5.5 million in annual rental income, have kept both properties at near full occupancy and extended SERT's weighted average lease expiry (WALE) for its office portfolio to 5.3 years.
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