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GLOBALTENANT REPRESENTATION

Global Tenant Representation

Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. We provide a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to owners and users of real estate on a local, regional and national level.

Headquartered in New York, Newmark Grubb Knight Frank and London-based partner Knight Frank operate from more than 300 offices in established and emerging property markets on five continents. Our global platform enables us to effectively serve the property requirements of tenants, owners, investors and developers worldwide.

“For our clients, the global tenant representation groupis structured to deliver an exceptionalbenefit: a seamlessservice with a uniform and superior level of quality, regardless of geography.”

Global Corporate Services

Newmark Grubb Knight Frank Global Corporate Services is an integrated global platform which provides seamless, beginning-to-end corporate services solutions to clients on an international level. Operating from three centers of excellence — New York, London and Singapore — Newmark Grubb Knight Frank Global Corporate Services oversees operations for all global accounts, ensuring consistent high levels of service for clients worldwide.

The Newmark Grubb Knight Frank Global Corporate Services model combines strategy and execution within a unified team. We assign a senior leadership team to every account, providing a truly robust but nimble response to service clients’ needs, and depth and stability in every phase of execution. Looking beyond real estate, the Newmark Grubb Knight Frank Global Corporate Services approach takes a holistic view of our clients’ overall objectives, implementing strategies that provide exponential value by reducing costs and thereby increasing profitability. Whatever your business sector, location, corporate structure or company culture, our Newmark Grubb Knight Frank Global Corporate Services team is ready to work alongside you, adopting your objectives as our own and designing innovative solutions to bring you closer to your goals.

Track Record

AvayaFully outsourced provider including facilities management, transaction management and project management for 7.7 million sf portfolio covering 259 locations. Recent assignments include projects in California, Colorado, New Jersey, Argentina, United Kingdom, Germany, France and India and across the world.Significant completed transactions include: 17,000 sf disposition in Colorado, 10,211 sf renewal in Illinois, 19,817 sf lease restructure in Paris and a 30,000 sf renewal in Budapest.

Bloomberg L.P.Acquired 700,000 sf New York headquarters,designed to the firm’s specifications. Provided strategic advice based on New York-area real estate portfolio, employee location and projected growth. Consolidated four inefficient facilities, saving $6 million.

CitigroupThe Blackstone GroupPricewaterhouseCoopersThe Interpublic Group of Companies, Inc.Orrick, Herrington & Sutcliffe LLPPanasonic

Key Facts

Population: 300 million

Local time: GMT -5 hours (New York)GMT -8 hours (Los Angeles)

Currency: US Dollar (USD or US$)

Quoted Rent: USD per sf per year (gross)

Typical Lease Term: New York: 10 to 15 years

Average Class A Rent in New York:US$50 - $55 per sf per year (gross)

Fees: The landlord pays. Fees vary from state to state and can be percentage of rent or fixed rate per sf.

Rent escalations: Typically two to three fixed rent “step-ups” in a 10-year lease.Operating expenses and taxes are set at a base level and increased annually at an agreed index.

United States

Newmark Grubb Knight Frank has over 100 offices in the United States.

Dallas

Atlanta

Miami

Long Island

Greenwich

Westchester

New York CityRutherford

Chicago

Houston

Washington, D.C.

Orange CountyLos Angeles Nashville

BostonMinneapolis

Denver

Seattle

Portland

Phoenix

PhiladelphiaWayne

PrincetonMarlton

San Diego

Wilmington

Santa Rosa

RosevilleSacramento

San FranciscoEmeryville

HaywardMarin

Palo AltoPleasantonSan Mateo

Walnut Creek

Santa Clara Indianapolis

Honolulu

Kalispell

BozemanFargo

Wichita

Cheyenne

FresnoVisalia

Bakersfield

Temecula

Las Vegas

Tucson

San Antonio

Oklahoma City

Tulsa

North Little Rock

Bentonville

GulfportMobile Jacksonville

Myrtle BeachColumbia

GreenvilleCharlotte

Chapel Hill

Mishawaka/South BendColumbus Pittsburgh

Waupaca

Madison

Green BayWausau

AppletonMilwaukee Detroit

Cleveland

Orlando

Boca Raton

Tampa

MemphisChattanooga

McAllen

AlbuquerqueSante FeSanta Ana

Newport Beach

Ontario

PortsmouthManchester

King of Prussia

Wappingers Falls

Tysons Corner

Baltimore

Raleigh

Rosemont

Newmark Grubb Knight Frank Offices

New York City Headquarters

Track Record

Merrill LynchExclusive service provider for the UK portfolio comprising approximately 1.65 million sf in 29 locations. Services provided include acquisition, disposal, building consultancy, rating and professional services. Acquired 550,000 sf London headquarters. Preferred service provider for continental Europe.

Swiss REAcquired 600,000 sf London headquarters.Iconic building nicknamed “The Gherkin”.The tallest building developed in London in 25 years.

Bank of TokyoStephenson HarwoodCitigroupEmapFreshfields Bruckhaus DerringerGuardian Media GroupReed Elsevier The College of Law

Key Facts


Local time: New York + 5 hours

Currency: British Pound (£)

Quoted Rent: £ per sf per year (net)

Typical lease term: 15 years

Average Class A rent in London: £47.50-£72.50 per sf per year, depending on submarket

Fees: The tenant pays. Typically 10% of first year’s rent. Discounts for larger assignments. Fees can also be a fixed rate per sf.

Rent escalation: Typically, five year rent review to open market value. “Upwards only,” meaning that if the market rent is lower than the rent paid at time of review, rent does not go down but remains the same.

VAT: 20% but some buildings may be excluded.

United Kingdom

The tenant representation contact in the United Kingdom and Europe is:

Bradley Baker

With 21 years of experience, Bradley Baker is the head of the Central London Tenant Representation team with responsibility for transactions throughout the UK and Europe.

Knight Frank has 18 offices in the United Kingdom in:

AberdeenBirminghamBristolCardiffEdinburghGlasgowLeeds

LondonLondon, West EndManchesterNewcastleSheffieldThames Gateway

Birmingham

Leeds

Manchester

LondonBristol

Newcastle

Glasgow Edinburgh

Aberdeen

Track Record

Barclays BankActed on the valuation of its properties in Africa for over 10 years.Advice on acquisitions and on disposals.

US Department of StateHas undertaken 18 site searches within African cities for new embassy compounds.Has undertaken over 35 appraisals.Project managed a new 60-unit housing compound in Nairobi on a build to lease basis.

Standard Bank of South AfricaRepresented the bank in a number of countries in valuations, consultancy and project management.

ActisBarclays BankCitigroupExxonMobilForeign and Commonwealth OfficeStandard Chartered Bank

Key Facts

Population: 1.4 billion

Local time: New York + 5/6/7/8 hours

Currency: Local but often US Dollars

Quoted Rent: Various

Typical Lease Term: One to five years

Average Class A Rent: Various

Fees: Usually landlord pays but adaptable. Typically fees increase with period of lease.

Rent escalations: 10% not unusual.

VAT: Varies 7.5% to 22%

Africa

The tenant representation contact in Africa is:

Peter Welborn

Peter Welborn has been at Knight Frank for 32 years and heads the Africa operation. Mr. Welborn has worked in the vast majority of capitals in North, Central and Southern Africa and lived in West Africa from 1979 to 1988. Mr. Welborn undertakes a number of projects throughout Africa each year, supported by our African offices.

Knight Frank has nineteen offices in nine countries in Africa:

BotswanaKenyaMalawiNigeriaSouth Africa

TanzaniaUgandaZambiaZimbabwe

Durban

Zimbabwe

ZambiaMalawi

Tanzania

KenyaUganda

Botswana

Nigeria

Cape Town

Track Record

OptusTenant representation role on 904,176 sf Sydney headquarters, and subsequent project management of fitout works.

KBRTenant representation role on Brisbane (80,730 sf) and Perth (54,896 sf) offices, and project management/cost consultancy of fitout works.

Carnival AustraliaTenant representation role on 65,660 sf Sydney HQ office, and project management/cost consultancy of fitout works.

SKMCorporate real estate advisory role on Perth (107,640 sf) and Brisbane (107,640 sf) offices. Project management of Brisbane office fitout.

PanasonicVistaprintEquigroupCanonSAPBSP

Key Facts

Population: 22.5 million


Currency: Australian Dollars (AUD)

Quoted Rent: AUD per sq m per year

Typical Lease Term: five to ten years, quoted on a net or gross rental basis, exclusive of GST.

Average Grade A Rent in Sydney: AUD 750 - AUD 900 per sq m per year (gross) plus incentive.

Fees: Paid by the tenant, usually a retainer plus a completion fee based on a rate per sq m or a percentage of savings. Fees exclude GST.

Rent Escalation: Fixed percentage or CPI linked annual increase, plus periodic market reviews on longer leases.

GST (Goods and Services Tax): 10%

Australia

The tenant representation contact in Australia is:

John Preece

John Preece has over 15 years of experience in commercial real estate specializing in corporate real estate advice, tenant representation, project management and building consultancy.

Knight Frank has 24 offices in Australia:AdelaideBrisbaneCairnsCanberraDarwinFraser CoastGeelong GladstoneGlen WaverleyGold CoastHobartLaunceston

MackayMelbourneNewcastleNorth SydneyParramattaPerthRockhamptonStrathpineSydneyTownsvilleWagga WaggaWest Sydney

New Delhi Sydney

ParramattaNewcastle

Brisbane

Darwin

Gladstone

Melbourne

Adelaide

Perth

Mackay

Cairns

Townsville

North Sydney

Hobart

Canberra

Geelong

Wagga Wagga

Strathpine

RockhamptonFraser Coast

Launceston

West Sydney

Glen Waverley

Gold Coast

Track Record

FrequentisAcquired approximately 43,056 sf office andwarehouse space in Vienna.

KapschAssisted with the acquisition of approximately107,640 sf office and warehouse space in Vienna.

ContinentalAcquisition of 40,903 sf office space in Vienna.

Coca ColaAcquired approximately 125,000 sf logistic and office space in Vienna.

DaimlerAcquired approximately 35,000 sf body shop in Vienna.

SwarovskiAcquisition of approximately 170,000 sf industrial land in Guntramsdorf.

ERGOREWE GroupSamsungTchibo

Key Facts



Currency: Euro (€)

Quoted Rent: Euro per sq m per year

Typical Lease Term: 3-10 years

Average Grade A Rent in Vienna: The average office rent in Vienna is €12.10 per sq m per month and prime office rents are €24.50 per sq m per month.

Fees: In our current tenants market, the landlord is paying a broker’s fee of between one to three months’ gross rent. Depending on the project and negotiations, the tenant pays between no broker’s fee at all or up to three months’ gross rent. In essence the generally accepted broker’s fee is three months’ rent. Legally the broker can represent and collect fees from both parties.

Rent Escalation: Rent is adjusted annually based on the Cost of Living Index.

VAT: 20%

Austria

The tenant representation contact in Austria is:

Dr. Eugen Otto

Eugen Otto is managing principal of Otto Immobilien Gruppe and has over 30 years of experience in successfully handling national and international clients in Austria’s real estate market. He is a chartered surveyor (MRICS), international valuer (ebs) and holds an Austrian law degree.

Vienna

Project partner - Otto Immobilien

Track Record

Acted for major New York headquartered bank in the relocation of its 110,000 sf headquarters in a new building in the Leopold Area.

SonyConsolidation and relocation of the Sony IT European headquarters in Brussels Airport Area of 3.7 acres.

Swiss LifeAcquisition of the 215,200 sf Brussels HQ Swiss Life of in Brussels South Station.

Estee LauderTenant representation services for the construction and letting of the European Distribution Center in Belgium.

Belgian GovernmentCSCEDSFortisThe Bank of New York Company, Inc.TycoXerox Corporation

Key Facts




Quoted Rent: Euro per sq m per year

Typical Lease Term: Nine years. Leases can be granted for longer or shorter periods, although anything over nine years will be considered “droit immobilier” (real property right) and needs to be passed by a notary.

Average Class A Rent in Brussels:€260 - €300 per sq m per year

Fees: Typically paid by the tenant, fees are negotiable with the usual rate being15% of the first year’s net rent.

Rent Escalation: Rent is adjusted annually based on the “health” index.

VAT: Currently at 21%. Rent payments on buildings are not subject to VAT, but rent on parking spaces are.

Belgium

The tenant representation contact in Belgium is:

Jean Vandezande

Jean Vandezande has been active for 11 years in the Belgian real estate market, working in the letting and sales department of Knight Frank Brussels and managing its office for 4 years.

Brussels

Track Record

Canadian Standards AssociationExclusive advisor for nearly 1 million sf of office and laboratory testing facilities.

Livingston InternationalExclusive advisor and strategic partner for a portfolio of 150 locations representing over 2 million sf of customs brokerage, operations, and logistics facilities.

Yellow Pages GroupExclusive advisor for a growing portfolio of over 100 office facilities representing over million sf.

ABBBell CanadaBusiness Development Bank of CanadaGolder AssociatesLafarge North AmericaNational Bank of CanadaThales Group

Key Facts


Local time: GMT – 5 hours (Toronto)

Currency: Canadian Dollar (CAD)

Quoted Rent: CAD per sf per year (gross)

Typical Lease Term: in Toronto – five to ten years

Average Class A Rent in Toronto:CAD44.30 per sf per year (gross)

Fees: The landlord pays. Fees vary from province to province and are typically a fixed rate per sf or percentage of rent.

Rent Escalation: Typically two to three fixed rent “step-ups” in a ten-year lease. Operating expenses and taxes are typically set at a base level and increased annually in accordance with CPI.

Canada

The tenant representation contact in Canada is:

Rob Renaud

Rob Renaud is a principal of the Toronto office and has 15 years of international experience in both Canada and the United Kingdom. He provides clients with global corporate real estate services and large transaction strategies for office and warehouse/logistics space.

Newmark Knight Frank has five offices in Canada:

CalgaryMontréalOttawa

TorontoVancouver

Toronto

Vancouver

OttawaMontréal

Calgary

Track Record Yahoo/AlibabaSuccessfully secured a new Beijing HQ, totaling 73,200 sf.

Barnes & NobleRepresented in leasing of first office outside the US; secured premier Grade A office in Shanghai, followed by providing fit-out management services. Siemens Enterprise NetworkSecured 16,377 sf office space and negotiated competitive terms in a brand new Grade A office in Shanghai. AspenTechAdvised tenant and managed Shanghai lease since 2006. In recent transactions, negotiated exceptional terms for lease renewal in a competitive market (approximately 24,148 sf). Avaya In 2010, restructured lease and negotiated competitive terms in a landmark building in Shanghai CBD. Recently negotiated for future expansion.

AlcoaRepresented the tenant in the pre-lease negotiations on the expansion and relocation of its Shanghai office to new Class A accommodation.

BlackstoneSecured 3,700 sf space and negotiated competitive terms in the market leading property in Beijing Financial Street.

Key FactsPopulation: 1.3 billion; 23% of world’s population.


Currency: Yuan (CNY) or Renminbi (RMB)

Quoted Rent: USD or RMB per sq m per day (gross), paid monthly or quarterly in advance.

Management Fee: Quoted RMB per sq m per month paid monthly or quarterly in advance.Typically 28-40 RMB per sq m per month.

Typical Lease Term: Two to three years. Total of management fees and net rent known as gross rental.

Average Class A Rent in:Beijing RMB 187 per sq m per month (gross)Guangzhou RMB 125 per sq m per month (gross)Shanghai RMB 240 per sq m per month (gross)

Fees: Landlords of Grade A space typically pay a fee of one month’s effective rent (excl. management fee).

Rent Escalation: Fixed for the term of the lease but capped increases common on options to extend.

China

The tenant representation contact in China is:

Graham Zink

Graham Zink has over 10 years of experience in corporate real estate services with a proven track record in handling complex leasing, sale/purchase, design and build and lease-back transactions in Canada, the US and Asia Pacific for both office and industrial requirements.

Knight Frank has three offices in China:

BeijingGuangzhouShanghai

Shanghai

Beijing

Guangzhou

Track Record

Cetelem (a subsidiary of BNP Paribas)Represented in consolidation of new headquarters and acquisition of pre-lease of 45,000 sf at Andel City. The only pre-lease in the Prague market in 2004.

GfK GroupAdvised on the acquisition of its company headquarters. This included the selection of the optimal premises and the negotiation of the lease contract. Secured 25,834 sf in a prestigious location in Prague which reflected the image and standards of the company.

Volksbank CZ Relocation to 30,000 sf in Prague.

Eset Software Relocation to 9,500 sf in Prague.

Komerani bankaRaiffeisenbankJohnson ControlsDeutsche BoerseFord Motor Company

Key Facts



Currency: Czech Crown (CZK)

Quoted Rent: Euro (€) per sq m per month

Typical Lease Term: Five years, rent paid quarterly in advance, three months’ deposit.

Average Class A Rent in Prague: €15.50 per sq m per month

Fees: For exclusive tenant representation services, the tenant pays a fee equivalent to one month’s rent.

Rent Escalation: Typically, rents are indexed annually (upwards only) based on the Consumer Price Index (MUICP).

VAT: Currently 20% and payable on all forms or transactions including rent, building service charges, agent fees, notary costs and property transactions after costs.

Czech Republic

The tenant representation contact in the Czech Republic is:

Jiri Linhart

Jiri Linhart has over 10 years experience in tenant representation and providing real estate and related services to corporate clients across Czech Republic.

Prague

Track Record

Carrier Corp.Provided advisory and relocation services to office and warehouse premises in Helsinki and Turku.

Siemens Enterprise CommunicationsProvided advisory and office relocation in Espoo, Helsinki Metropolitan Area.

Marioff CorporationAssisted with the lot acquisition process for a planned Fire Test Center including option to acquire additional land for warehouse and office use in Helsinki Metropolitan Area.

BearingPoint FinlandBentley Systems FinlandBooz Allen HamiltonCisco Systems FinlandHewlett-PackardHoneywellMcCann Worldgroup HelsinkiJ. Walter Thomson FinlandLexmark FinlandSun MicrosystemsOrbits Worldwide/Ebookers Finland

Key Facts





Typical Lease Term: three to five years

Average Class A Rent in Helsinki CBD: €25 per sq m per month

Fees: Paid by tenant, usually a success fee based on a percentage of annual rent.

Rent Escalation: Rent is typically adjusted according to Consumer Price Index.

VAT: 23%

Finland

The tenant representation contact in Finland is:

Kai Savasti

Kai Savasti has over 20 years of experience in all aspects of commercial real estate brokerage and tenant representation.

Helsinki

Project partner - Real Estate Consulto

Track Record

OTISAcquisition of headquarters in Paris and 8,700 sf in Nancy.

Chubb SecurityAcquired 16,000 sf in Lyon, 12,000 sf in Toulouse and 10,000 sf in Toures.

Merrill LynchRenegotiated lease for its Paris headquarters located on Avenue Kleber, occupying 29,600 sf.

SiebelDisposal of a 78,548 sf building located at 6 Avenue Kléber 75016, Paris.

118 218 Le Numero (KGB)Rental of 12,350 sf headquarters in Paris near Saint Lazare’s railway station.

SNR DentonRental of 10,000 sf headquarters in Paris located on Avenue Kléber.

France TelecomAvayaCorbisFordSiemens Enterprise CommunicationsConcur TechnologiesAspenTechChristie’s

Key Facts




Quoted Rent: Euro per sq m per year (Net)

Typical Lease Term: Nine years with tenant-only break options every three years.

Average Class A Rent in Paris:€720 per sq m per year

Fees: 15% of a year’s rent paid by tenant. Typical for the landlord to also pay a fee if the advisor has an exclusive agency instruction.

Rent Escalation: Rent is adjusted annually based on the Construction Costs Index.

VAT: Currently 19.6% and payable on all forms of transactions including rent, service charges and agent’s fees but it is not paid on the property transactions after tax.

France

The tenant representation contact in France is:

Aymeric Sevestre

Aymeric Sevestre has 12 years of experience in commercial property, specializing in the Paris Central Business District. He heads the Paris office team of 12 people.

Paris

Track Record

PWCAcquired 818,057 sf office space which was the largest transaction completed in Germany in the last few years.

Federal Agency for Financial Market Supervision (Bafin)Acquired 322,920 sf new main office premises in Frankfurt Mertonviertel.

Bankhaus MetzlerLease renewal in the south of Frankfurt for approximately 113,021 sf.

CITILease renewal in the CBD of Frankfurt of approximately 107,639 sf.

Lufthansa Air Plus Lease renewal in Neu-Isenburg near the Frankfurt Airport for approximately 86,112 sf.

Sage SoftwareLease renewal in the north of Frankfurt for approximately 59,202 sf.

Jones DayAcquired a new office in the Nexus Tower in the Frankfurt CBD for approximately 32,292 sf.

Key Facts




Quoted Rent: Euro per sq m per month (net)

Typical Lease Term: Five years for an existing building; 10 years for a new development.

Average Class A Rent in Frankfurt:€34.00 - €38.00 per sq m per monthAverage Class A Rent in Munich:€20.00 - €22.00 per sq m per month

Fees: In tenant’s market, the landlord typically pays a fee of three months’ gross rent. In landlord’s market, the tenant typically pays a fee of three months’ net rent. Currently, Frankfurt, Munich and all major cities are tenants’ markets.

Rent Escalation: Rent is adjusted annually based on the Cost of Living Index or compounded annually.

VAT: Currently 19% and is payable on all forms of transactions including rent, building service changes, agent fees, notary costs and property transactions after costs.

Germany

The tenant representation contactin Germany is:

Elvin Durakovic

Elvin Durakovic is a partner and managing director of the Frankfurt office and has more than 15 years of experience in tenant representation.

Knight Frank has two offices in Germany:

Frankfurt am Main Munich

Knight Frank has a project partner in Germany located in:

Berlin

Frankfurt am Main

Berlin

Munich

Track Record

KodakProvided complete relocation services including valuation, disposal of the company’s headquarters in Athens of approx. 86,112 sf built upon a 182,988 sf site and leasehold acquisition of new HQ.

Hellenic GovernmentFinancial advisor concerning the registry, assessment and exploitation of the Hellenic Republic Real Estate Portfolio.

U.S. EmbassyOngoing relationship as property consultant with the American Embassy on property matters.

Playmobil HellasProvided feasibility studies regarding potential relocation and real estate development for company’s HQ, Warehouse and Fun Park.

Greek MinistriesPPP projects

Bristol-Myers-SquibbSourced and leased a ‘built-to-suit’ office HQ. Organized and implemented the relocation. Found ideal land plot and negotiated with developer.

PhilipsSanofi - AventisAIG Alico LifeOnassis FoundationDelta Airlines

Key Facts


Local Time: New York + 7 hours


Quoted Rent: Euro (€) per sq m per month (gross)

Typical Lease Term: 12 years with option to renew for an additional four-year term.

Average Class A Rent in Athens: € 10 - € 15 per sq m per month in Athens.

Fees: The broker can represent and get paid by both parties, but dual representation must be disclosed in advance. The fee usually equals one month’s rent.

Rent Escalation: Escalation is linked to the Greek CPI plus 1 or 2 percentage points per annum.

VAT: No VAT on leases. Stamp duty of 3.6% for commercial, imposed on monthly rental and there is no stamp duty for residential.

Greece

The tenant representation contact in Greece is:

Panayiotis G. Mihalos

As founder and CEO of Southeast Real Estate, “Peter” Panayiotis G. Mihalos has over 30 years of experience in the real estate market.

Project partner - Southeast Real Estate

Athens

Macau Hong Kong, China

Track Record

Credit Agricole Bank180,000 sf banking merger, acquisition and disposal into One and Two Pacific Place, Admiralty.

Macquarie BankAssisted with expanding their operations four times over the past two years to occupy 90,000 sf.

Pacific Century Insurance GroupConsolidated and expanded operations into one large premise over 150,000 sf with signage rights.

Asia NetcomAXA RosenbergBank of China InternationalBear StearnsThe Blackstone GroupBP AsiaChina NetcomCLSA LtdCoca-ColaCredit Agricole BankEC HarrisHogan LovellsHong Kong Securities ClearingHSBCINVESCO AsiaNECPalmer & TurnerPrudential InsuranceTricor

Key Facts

Population: 7 million people in 424 square miles.

Local Time: New York + 13 hours

Currency: Hong Kong Dollar (HKD)

Quoted Rent: HKD per sf per month

Typical Lease Term: Three years or multiples there of.

Average Class A Rent in Hong Kong:HKD $48.60 per sf per month

Fees: Landlord pays fee of one month’s rent for relocation. Tenant pays fee for lease renewal or rent review, usually 8% of total savings achieved over the term of the new lease.

Rent Escalation: Open market review after three years.

Hong Kong

The tenant representation contact in Hong Kong is:

Nelson Lam

Nelson Lam has over 24 years of experience in the Hong Kong property market and extensive experience in major tenant representation mandates.

Track Record

SchlumbergerAcquisition of 170,000 sf in Mumbai as a consolidation exercise. Temasek HoldingsAcquisition of 11,000 sf in Mumbai’s most premier real estate building. Ingersoll RandPortfolio management for Ingersoll Rand’s India Real Estate. ChemtexSale and leaseback of 84,000 sf for Chemtex in Mumbai.

Key Facts

Population: World’s second largest population at 1.1 billion.

Local time: New York + 10.5 hours

Currency: Indian Rupee (INR)

Quoted Rent: India Rupee (INR) per sf per month (gross)

Typical Lease Term: Five years (with 36 months compulsory lock-in period) and an option to renew for an additional five-year term.

Average Class A Rent in Mumbai:INR 88 per sf per month

Fees: Typically, the tenant pays an exclusive tenant representation fee. The broker can represent and get paid by both parties, but dual representation must be disclosed in advance. Fees range from 1% of the rental deposit plus one month’s rent to 2% of the deposit plus two months’ rent.

Rent Escalation: Fixed for the term of the lock-in period then typically increased by 15%.

India

The tenant representation contact in India is:

Viral Desai

Viral Desai has 10 years of experience in commercial real estate specializing in tenant representation and providing real estate and related service to corporate clients across India. He heads the commercial agency team in India.

Knight Frank has seven offices in India:

BangaloreKolkataChennaiDelhi

HyderabadMumbaiPune

Mumbai

Pune

Bangalore Chennai

Delhi

Hyderabad

Kolkata

Track Record

HSBCAppointed as tenant representative to source and negotiate branch offices and ATMs in Jakarta, Bandung and Medan.

Shell IndonesiaRepresenting tenant in relocation of headquarters. Negotiated a five-year lease of 51,000 sf brand new office space in South Jakarta. Representing tenant to source and acquire gas station sites in Jakarta Surabaya, Bandung and Medan.

Kondur PetroleumWorkplace strategy planning and tenant representation services for 215,000 sf. Head office relocation in Jakarta.

MetLifeRepresenting tenant for relocation of office headquarters in Indonesia. Completed an assessment of options and financial analysis with the incorporation of MetLife’s business plan objectives. Negotiated a three-year lease renewal for 19,055 sf in Menara Mulia.

Key Facts

Population: 245.6 million people, more than 300 local languages.


Currency: Indonesian Rupiah (IDR)

Quoted Rent: IDR per sq m per month (net)

Typical Lease Term: Two to three years.

Average Class A Rent in Jakarta: IDR 143,000 per sq m per month

Fees: Landlord pays the fee of one month’s gross rent.

Rent Escalation: None, fixed for the term of the lease.

VAT: 10%

Indonesia

The tenant representation contact in Indonesia is:

Sindiani Surya Adinata

Sindi Surya Adinata has over 12 years of experience in the Indonesian property market, with a specific focus on strategic advisory and corporate real estate.

Jakarta

Track Record

Pioneer Investments Ltd. A wholly owned subsidiary of Uni Credito, Pioneer Investments has its European asset management division in Dublin. It also has operations worldwide and is advised by Newmark Knight Frank.

Paddy Power Plc Represented Paddy Power Plc in the acquisition of 120,000 sf in Belfield office campus, Dublin 4, where it plans to consolidate its offices.

AvayaMcAfeeYelp!Trinity College DublinNissanIDAPaddy PowerOCS - One Complete SolutionBalfour BeattyAmerican College DublinMake-A-Wish FoundationNuance CommunicationsRayact Bahra Group

Key Facts




Quoted rent: Euro per sf per year (net)

Typical lease term: Ten year lease with break at end of year 5.

Average Class A Rent in Dublin: €30 per sf per year

Fees: The tenant pays. Typically 10% of the first year’s rent.

Rent escalation: Typically five-year rent review to open market value.

VAT: 21%

Ireland

The tenant representation contact in Ireland is:

Aisling Tannam

Aisling Tannam has 8 years of experience in commercial real estate. She specializes in the acquisition of commercial property on behalf of national and international occupiers.

Dublin

Track Record

Computer AssociatesLease administration in three sites in Israel.Managed consolidation from seven sites to three sites. Acquisition of a 48,438 sf facility.

SAPSite acquisition throughout Israel. Campus in Raanana 193,752 sf in multiple transactions. Initial consolidation of three facilities into campus complex. Site acquisition in northern Israel – R&D facility in Karmiel.

EMCOngoing consultancy and site acquisition for five facilities in Israel. Approximately 107,640 sf.

ClickSoftwareSite acquisitions for temporary and permanent offices, approximately 32,292 sf in an office park. In addition, overseeing of leasing new offices in Australia and India.

Key Facts



Currency: New Israeli Shekel (NIS)

Quoted Rent: New Israeli Shekel per sq m per month

Typical Lease Term: Five to ten years, quoted on gross rental basis, exclusive of the VAT.

Average Class A Rent in Tel Aviv: 85 - 120 NIS per sq m per month gross.

Fees: Paid by tenant, usually a retainer plus a completion fee based on a rate per sq m or a percentage of savings. In some instances the landlord participates in part of the fee.

Rent Escalation: In most leases, rent is linked to Israeli CPI. Israeli CPI is published on a monthly basis.

VAT: 16%

Israel

The tenant representation contact in Israel is:

Marla Oddes

Marla Oddes has 21 years of experience in real estate. She specializes in property analysis, negotiations and site acquisitions.

Project partner - Natam Commercial

Tel Aviv

Track Record

Deutsche BankAdvised on the sale of an 86,000 sf office building in downtown Milan.

European School of EconomicsAcquired 1,500 sf office premises in downtown Milan.

Prima SGR ( Montepaschi )Advised on the lease acquisition of 3,500 sf office premises in downtown Milan.

Alenia ( Finmeccanica )Assisted with the lease acquisition of 13,100 sf office premises in Turin.

Generali GI SGRAdvised on the sale of an 11,900 sf office building in downtown Milan.

SKY Italia Advised on the acquisition of a new headquarters and the exit strategy from existing location in Rome.

Key Facts




Quoted Rent: Euro per sq m per year (net). Rents are exclusive of service charges and taxes.

Typical Lease Term: Six years with a right to renew for an additional six-year term after six years or break

Average Class A Rent in Milan:€350 - €400 per sq m per year

Fees: The tenant typically pays the fee of 10% - 12% of one year’s rent.

Rent Escalation: No rent review for the duration of the contract. For a six year contract, rent is usually adjusted annually by up to 75% of the inflation index, ISTAT.

VAT: Currently 20%

Italy

The tenant representation contact in Italy is:

Luca Campanella

Based in Milan, Luca Campanella is a senior agent in the agency team and has more than 6 years of experience in tenant representation.

Affiliate office PRELIOS S.p.A. has two offices in Italy:

MilanRome

Milan

Rome

Track Record

Goldman Sachs New lease of 320,000 sf of Tokyo Grade A space.

L’orealNew lease of 75,000 sf of Tokyo Grade A space.

Johnson and Johnson New lease of 270,000 sf of Tokyo Grade A space.

American Chamber of Commerce in JapanBaxter Limited JapanKCIRambusRoyal Bank of CanadaSony Pictures EntertainmentSociete Generale

Key Facts



Currency: Japanese Yen (JPY)

Quoted Rent: Yen per tsubo per month(3.3 sq m = 1 tsubo = 35.5 sf)

Typical Lease Term: Landlords and tenants have a choice of using either traditional or fixed term leases: A traditional Japanese lease is for two years and is perpetually renewable whereas a fixed term lease is typically 3-5 years and provides no right to renew.

Average Class A Rent in Tokyo: JPY 35,000 per tsubo per month

Fees: Typically broker gets paid one month of rent by landlord and tenant. Our policy is only one month from the tenant.

Rent Escalation: Not fixed and subject to negotiation.

VAT: 5% on all goods and services.

Japan

The tenant representation contact in Japan is:

James Fink

James Fink has 18 years of experience in Japan and has represented over 200 Fortune 1000 firms.

TokyoOsaka

Project partner K. K. Halifax Associateshas two offices in Japan:

OsakaTokyo

Track Record

El PasoRelocation and dispose the premise in a timely manner and achieving the best result for the current market conditions. Rio de Janeiro.

BrightstarNew logistics warehouse with 14,000 sq m in Jundiaí - SP.

Prosegur New office space for the LATAM Headquarters in São Paulo. 7,000 sq m.

CarlyleLease contract renewal of the Brazilian Headquaters offices in São Paulo.

Bayer Carrefour Casino EMCGoodyear InformaticaLaureate MarshMerrill Lynch

Key Facts (Brazil)

Key Facts (Brazil) Population: 196 million

Local time: New York + 3 hours Currency: Real (R$) Quoted Rent: Reais per sq m per month Typical lease term: Three to five years Average Class A rent in São Paulo: 116 R$ per sq m per month Fees: Paid by landlord. Usually is up to two months’ rent.

Rent escalation: Annually adjusted according to IGPM index.

Latin America

The tenant representation contact in Latin America is:

César A. Ruiz

Cesar Ruiz has extensive tenant representation experience acting on behalf of multinational companies throughout Central and South America and the Caribbean.

Newmark Grubb Knight Frank has project partnersin the following Latin American Countries:

Caribbean:BahamasBermudaCayman IslandsDominican RepublicJamaicaPuerto RicoVirgin Islands Central América:Costa RicaEl SalvadorGuatemalaPanamá

South America:Argentina BoliviaBrazilChile ColombiaEcuadorPeruUruguayVenezuela

Monterrey ReynosaSan Luis Potosí

Newmark Grubb Knight Frank has three affiliate offices in Mexico:

MontereyReynosa

San Luis Potosi

Track Record

Shell Malaysia 340,000 sf relocation and consolidation of offices across Kuala Lumpur. Market studies, analysis of options, cash flows and legal assistance. Shell People Services Asia Sdn BhdSuccessfully negotiated 323,000 sf lease with competitive rates to accommodate fluctuating demand after conducting a cost/benefit analysis. Touch ‘n GoSuccessfully secured 60,000 sf office space for Touch n’ Go’s relocation into an MSC cyber centre. Sumitomo Mitsui Banking CorporationSuccessfully secured 24,000 sf office space for SMBC’s relocation and expansion exercise after granted commercial banking license by Bank Negara Malaysia. Service SourceSuccessfully secured 35,400 sf. office space for Service Source global delivery centre. AvayaMustang EngineeringElaf BankSingapore High CommissionWeatherford

Key Facts



Currency: Malaysian Ringgits (MYR)

Quoted Rent: MYR per sf per month (gross)

Typical Lease Term: Two to three years with option to renew for two- or three-year term at market rate

Average Class A Rent in Kuala Lumpur: MYR 6.80 per sf per month

Fees: Half a month for renewals, typically paid by the tenant. For relocation to new premises, the fees payable is one month’s rent which is typically paid by the landlord and this is fully disclosed in advance. Sometimes the tenant will pay to avoid potential conflict.

Rent Escalation: Rent is fixed during the two to three year term.

Malaysia

The tenant representation contact in Malaysia is:

Sarkunan Subramaniam

Sarky Subramaniam has 23 years of experience in the Malaysian real estate market with expertise in agency, office leasing, investment sales, valuation, research, feasibility studies and corporate real estate.

Johor BahruKuala LumpurPenang

Knight Frank has three offices in Malaysia:

Kuala Lumpur

Johor Bahru

Penang

Track Record

AvayaExclusive representation of Avaya. Provided lease renewal advisory services and full search acquisition services in relocating its offices in Abu Dhabi. RiverbedWe assisted Riverbed with its expansion and lease renewal in Dubai (Business Central Towers). AvayaSchrodersBank of Tokyo-Mitsubishi UFJCarrierAdobeMcAfeeRiverbed

Key Facts (United Arab Emirates)



Currency: UAE Dirham (AED)

Typical Lease Term: One to three years

Average Class A Rent in Abu Dhabi: AED 1,900 per sq m per annumAverage Class A Rent in Bahrain: BHD 9 per sq m per annumAverage Class A Rent in Dubai: AED 150 per sf per annum

Fees: Typically paid by the tenant, usually 5% to 7% of annual rental.

Rent Escalation: In Abu Dhabi, landlords can increase the rent by up to 5% per annum. In Dubai rents can go up or down and are based upon the RERA (Real Estate Regulatory Authority) Index.

The tenant representation contact in the Middle East is:

Matthew Dadd

Matthew Dadd has a wealth of experience in assisting occupiers secure commercial premises in the Middle East and is well versed in advising international companies that are relocating to the region and guiding them through the nuances of the market.

Middle east

Bahrain

Abu Dhabi

DubaiDoha

Knight Frank has project partners in the following Middle Eastern cities:

KuwaitOman

Riyadh

Knight Frank has three offices in the following Middle Eastern cities:

Abu DhabiBahrain

DubaiDoha

Track Record

FFokker ServicesAcquisition of approximately 75,000 sf office space as well as 172,500 sf warehouse space in Hoofddorp (Schiphol Airport).

AstellasAcquisition of approximately 180,000 sf office/lab space in Leiden.

Booking.ComAcquisition of approximately 135,000 sf office space in Amsterdam centre. TATA Acquisition of approximately 15,000 sf office space at Amsterdam Southaxis.

Nuon/VattenfallSeveral acquisitions in The Netherlands with a total size of approximately 140,000 sf office space.

Mitsubishi Park Plaza HotelsUTCManpowerSaabSHV Gas

Key Facts




Quoted Rent: Euro per sq m per year (net)

Typical Lease Term: 5 to 10 years

Average Class A Rent: €180 - €210 per sq m per year

Fees: Typically paid by tenant, usually 16% of the first year’s rent. Can be combination of lower percentage of first year’s rent plus percentage of savings over term of the lease.

Rent escalation: 1.50% to 2.00% per year based on the CPI published by the Central Bureau of Statistics.

VAT: Currently 19 % and payable on all rent and fees.

The Netherlands

The tenant representation contact in The Netherlands is:

Fred Rikken

Fred Rikken has over 15 years ofexperience in the Dutch property marketwith a focus in tenant representation, corporate services and investments.

Affiliate office - NL real estate

Amsterdam

Track Record

KIA Motors Acquired new New Zealand headquarters of over 23,680 sf for the group.

Brightstar LogisticsInstructed to acquire New Zealand headquarters. Successsfully relocated near Auckland Airport into 83,960 sf.

Atlas Copco Delivered a solution for Atlas Copco with warehouse and office space of over 48,438 sf.

TelecomNZ GovernmentSupply Chain SolutionsSynnex SPXSims E-recyclingWarehouse Group

Key Facts



Currency: New Zealand Dollar (NZD)

Quoted Rent: New Zealand Dollars per sq m per annum


Average Class A Rent in Auckland CBD locations: NZ $325 - NZ $500 per sq m per year

Fees: Typically paid by the landlord as a percentage of annual rental dependent on term. Usually between 15% and 19%.

Rent escalation: Negotiable, typically reviewed at two-year intervals to Consumer Price Index (CPI), however will not fall below initial rental.

New Zealand

The tenant representation contact in New Zealand is:

Aaron Toresen

Aaron Toresen has been involved in commercial real estate for over 15 years and has represented international and domestic clients in both investment sales and significant lease transactions.

South Auckland

Christchurch

Track Record

Nordea Bank of Norway ASASearch for facilities for a new headquarters in Oslo of approximately 200,000 sf. Contract negotiations with landlord on behalf of Nordea. Renegotiation or determination of branch network including search for new locations.

Storebrand Insurance Company ASAOngoing 108,000 sf acquisition assignment.

Bloomberg Finance LPEngaged search for facilities for a new headquarters in Oslo of approximately 600 sf and assisted with contract negotiations with landlord on behalf of Bloomberg.

Catella Investment Foundation GMBHGVA Nybolig ErhvervNorwegian Red CrossENTRA Real Estate

Key Facts



Currency: Norwegian krone (NOK)

Quoted Rent: NOK per sq m per year

Typical Lease Term: 5 to 10 years fixed with a tenant only right of renewal for an additional 5 years

Average Class A Rent in Oslo CBD locations: 4000 NOK per sq m per year

Fees: 8% - 12% of estimated one year’s rent paid by the landlord is standard.

Rent escalation: Included in all leases. Rent is linked to the Norwegian consumer price index, named the SSB index which is published on a monthly basis. Normal increase is 1.5% - 2.5% per year.

VAT : 25%

Norway

The tenant representation contact in Norway is:

Hans Welle-Watne

Hans Welle-Watne has 25 years of experience in the real estate business. He specializes in property analyses, management and site advice, tenant representation and high level negotiations.

Project Partner - Cordea Realestate

Oslo

Track Record

VSoftAcquired 8,000 sf of office space in Krakow.

CH2MHILLAcquired 21,500 sf of office space in Krakow.

Bank Zachodni WBK/Bank BPH PBKStrategic review of multiple locations throughout Poland. Renegotiation of a number of leases where market conditions favored Bank BHP PBK.

IBMAcquired 10,000 sf warehouse.

Santander Consumer Bank SAAcquired 65,000 sf of office space in Wroclaw.

ING Bank SlaskiAcquired 66,000 sf of office space inWarsaw.

APWCardpoint

Key Facts



Currency: Zloty Polski (PLN)

Quoted Rent: Euro (€) or USD ($) per sq m per month (Net)

Typical Lease Term: Five years

Average Class A Rent in Warsaw:€19 - €25 per sq m per month

Fees: Landlord pays the fee of one to two months’ gross rent.

Rent escalation: Rent is indexed annually according to Monetary Union Index of Consumer Prices, if paid in Euro.

VAT: Currently 22%.

Poland

The tenant representation contact in Poland is:

Izabela Potrykus-Czachowicz

Izabela Potrykus-Czachowicz has 11 years of experience in tenant representation and providing real estate and related services to corporate clients across Poland.

Knight Frank has six offices in Poland:GdyniaKatowiceKrakow

PoznanWarsawWroclaw

Poznan

Gdynia

Warsaw

Wroclaw

Katowice

Krakow

Track Record

Fujitsu Siemens IT PSStrategic advice and negotiations concerning the selection and leasing of its new headquarters.

Fujitsu Siemens ComputersStrategic advice and negotiations concerning the selection and leasing of its new headquarters.

Dell ComputersJet RepublicNikeCasioDHVMasterjetCesce

Key Facts




Quoted Rent: Euro per sq m per month


Average Class A Rent in Lisbon: €21 per sq m per month

Fees: Typically paid by landlord, usually 15% of first year’s rent.

Rent Escalation: Rent is adjusted annually based on the Official Inflation Index.

VAT: 21%, payable on all forms of transactions including service charges and agents fees.

Portugal

The tenant representation contact in Portugal is:

Ana Lemos

Ana Lemos is a senior tenant representation specialist with seven years of experience.

Affiliate office - Worx

Lisbon

Track Record OracleSince 2006, acquired over 290,000 sf on behalf of Oracle Romania in Oracle Tower and Floreasca Business Park and Nusco Tower.

PricewaterhouseCoopersAcquired approximately 91,500 sf of office space in Bucharest. HPMultiple ongoing and completed office assignments in Bucharest.

Delta HospitalLeased over 100,000 sf office space in Bucharest.

3MS&TNovartisFreescaleRinglerYokogawaBritish America TobaccoSiemensCegedimEatonBandy NamcoKraftSam BillerWolf TheissAvivaAlcon

Key Facts



Currency: Romanian leu (RON)



Average Class A Rent in Bucharest: €16.5 per sq m per month

Fees: Landlord typically pays the fee of two to three months rent

Rent Escalation: Rent is adjusted annually based on the European Consumer Price Index

VAT: 24%

Romania

The tenant representation contact in Romania is:

Horatiu Florescu

Specializing in the office segment of the real estate market, Horatiu Florescu has over 13 years of experience in providing tailored constancy to both developers and tenants in Bucharest and all over Romania, from office towers to business parks.

Affiliate office - Prime Property Advisors

Bucharest

Track Record

Merrill LynchTenant representation in leasehold acquisition of 19,213 sf office premises in Moscow. IBMTenant representation in leasehold acquisition of 36,887 sf office premises in Moscow and 4,843 sf in St. Petersburg. Credit Europe BankTenant representation in leasehold acquisition of 82,020 sf office premises in Moscow. Renaissance CapitalTenant representation in leasehold acquisition of 75,347 sf office premises in Moscow. NovartisPreferred service provider for office premises expansion and all Moscow facilities consolidation. WeatherfordTenant representation in renegotiations of 61,354 sf office premises in Moscow. WPPTenant representation in leasehold acquisition of 113,021 sf office premises in Moscow.

Key Facts



Currency: Ruble

Quoted Rent: USD/RUR per sq m per year based on rentable area

Typical Class A rent in Moscow:USD $750-$1200 per sq m per year

Lease Term: 5 - 10 years

Fees: Depending on the deal structure, either the landlord or the Tenant, or both, pay the fee typically of one month’s rent.

Rent escalation: Annual indexation of 3% - 4% from the second year of lease

VAT: 18%

Russia

The tenant representation contact in Russia is:

Konstantin Losiukov

Konstantin Losiukov is the head of the corporate client group in the Moscow office and has over 12 years of experience in real estate and tenant representation for multinational corporate occupiers.

Knight Frank has two offices in Russia:

MoscowSt. Petersburg

Moscow

St. Petersburg

Track Record

Ministry of National Development Acted as tenant representative to source a headquarters for three Government agencies. We undertook in-depth site and financial studies and negotiated an attractive package for a build to suit development in Jurong which is 325,000 sf. Dow CorningBeing appointed to source an office space for its regional headquarters in Singapore. Demonstrated market intelligence and experience in securing 25,000 sf at Solaris, Singapore. SAC Capital Fortress Investment Sapient Sony Music

Key Facts

Population: 5.25 million; majority of population lives in high-tower public housing.


Currency: Singapore Dollars (SGD)

Quoted Rent: Singapore Dollar per sf per month (gross)

Typical Lease Term: Three years with option to renew for an additional three years, at the prevailing market rent.

Average Class A Rent: SGD $12 - $14 per sf per month

Fees: Landlord pays a fee of one month’s rent for relocation. Tenant pays fee for lease renewal or rent review, either on an agreed fixed fee basis or on a percentage of achieved savings.

Rent Escalation: None; fixed for the term of the lease.

Singapore

The tenant representation contact in Singapore is:

Louise Toovey

Louise Toovey has six years of experience working in commercial real estate and has represented and advised multinational companies in Singapore and in the UK.

Singapore

Track Record

Oracle Korea 142,332 sf tenant representation assignment. Exclusive service provider in Korea since 2004. In 2005, successfully executed its relocation consulting.

Nestle 78,282 sf tenant representation assignment. In 2006, provided relocation consulting and they saved over 2 million US dollars during 5 year leasing period.

Hi-Brand B/D 355,830 sf property disposal. Successfully finished property disposal in 2006.

Korea Rail RoadProperty consulting. Consulted best and highest use for idle property.

Fuji XeroxAppleSamsungMotorolaROCHE

Key Facts



Currency: Korean Won (KRW)

Quoted Rent: KRW per pyoung per month(3.3 sq m = 1 pyoung = 35.5 sf)

Typical Lease Term: Two to five years

Average Class A Rent in Seoul:CBD 120,000 KRW per pyoung per monthGBD 90,000 KRW per pyoung per month

Fees: Typically, broker gets paid by landlord and tenant. Tenant pays a fee of one month’s rent for relocation. Landlord pays a fee depending on the market situation.

Rent Escalation: Fixed for the term of the contracted period then typically increased by 5 percent.

The tenant representation contact in Korea is:

Zed Kim

Zed Kim has over 15 years of experience in the Korean real estate market. He specializes in corporate service and capital markets.

South Korea

Seoul

Knight Frank has one office in South Korea:

Seoul

Track Record

CarrierAcquired its new 35,000 sf headquarters in Madrid following the consolidation of various locations. Advised Carrier on its other locations throughout Spain transacting over 50,000 sf.

OrangeAdvised Orange in their exit strategy from its existing location. Subleased its 100,000 sf building to Codere, achieving considerable savings for Orange.

Bearing PointProvided strategic advice and negotiations for the exit of Bearing Point from its 35,000 sf offices in Torre Picasso.

Standard LifeGE CapitalAXAConergyNovo Nordisk Farma

Key Facts




Quoted Rent: Euro per sq m per month


Average Class A Rent in Madrid:€243 - €26 per sq m per month

Fees: Typically paid by the landlord and are between 10% and 14% of the first year’s net annual rent.

Rent Escalation: Rent is adjusted annually based on the Cost of Living Index. Indexation clauses in leases usually include automatic adjustment whenever the Cost of Living Index changes by a predefined amount.

VAT: 18%

Spain

The tenant representation contact in Spain is:

Humphrey White

Humphrey White is head of investment and overseas tenant representation in Spain with over 10 years of experience in the Spanish real estate market.

MadridSeville

Knight Frank has two offices in Spain:

Madrid

Seville

Track Record CanonLease negotiations for 15 sites in Sweden totaling approximately 215,000 sf.

ITTAcquisition of a new office and laboratory building for ITT Water & Wastewater in Stockholm of approximately 161,500 sf.

G4SLease negotiations for 7 sites across Sweden totaling approximately 130,000 sf.

RocheReal estate transaction and lease negotiations for a new site of approximately 161,500 sf.

SchibstedCo-location of 13 corporations from 6 different locations in Stockholm totaling approximately 110,000 sf.

Akzo NobelRelocation into 86,000 sf of integrated office and laboratory premises in Stockholm.

American ExpressHoneywellNikeSony MusicMicrosoftApple

Key Facts

Population: Sweden 9.3 million


Currency: Swedish Krona (SEK)

Quoted Rent: SEK per sq m per year

Typical Lease Term: Three to five years

Average Class A Rent in Stockholm CBD: SEK 3,800 - SEK 4,500 per sq m per yearAverage Class A Rent in Gothenburg CBD: SEK 1,800 - SEK 2,300 per sq m per year

Fees: Paid by tenant. Typically fixed fee or a fee based on a percentage of savings

Rent Escalation: Rent is linked to Swedish CPI. CPI is published on a monthly basis.

VAT: 25%

Sweden

The tenant representation contact in Sweden is:

Jesper Trotzig

Jesper Trotzig has more than 10 years of experience in real estate. He is specialized in corporate real estate strategies, lease and transaction negotiations.

Stockholm

Gothenburg

Project Partner - Tenant and Partner

Track Record

McDonald’sActelionCoutts Bank Alstom Credit SuisseUBSAXA WinterthurAston MartinH & M Hennes & Mauritz SAABB Immobilien AGAvayaZurich VersicherungMobiliar

Key Facts



Currency: Swiss Franc (CHF)

Quoted Rent: Swiss Franc per sq m per year

Typical lease term: 5 + 5 years (Initial lease of five years with a renewal option for an additional 5 year term.

Average Class A Rent in Geneva:CHF 600 per sq m per yearAverage Class A Rent in Zurich:CHF 500 per sq m per year

Fees: Paid by tenant. Typically 12% – 14 % of annual net rent amount.

Rent escalation: Rent is indexed annually according to the official Cost of Living (COL) index

VAT: 8.0%

Switzerland

The tenant representation contact in Switzerland is:

Sybilla Glutz

Sybilla Glutz has over 10 years of experience in the Swiss commercial real estate specializing in tenant representation and corporate real estate.

Berne

Basel

St. Gallen

Lausanne

Lugano

LuzernNeuchâtel

OltenWinterthur

Zurich

Carouge

FreiburgChur

Zurich-Oerlikon

Affiliate office - Wincasa AG

BaselBerneCarougeChurFreiburgLausanneLugano

LuzernNeuchâtelOltenSt. GallenWinterthurZurich Zurich-Oerlikon

Track Record

Mitsubishi MotorsSole agent for Mitsubishi Motors. Within five months, negotiated the sale of 322,800 sf industrial assembly plant.

TycoInstructed to find manufacturing facility in Thailand. Local expertise and representation in Thailand; single point of contact and consistent documentation in the United States.Negotiated a three-year lease with option to purchase for 137,000 sf manufacturing plant.

Novartis Advised in all stages of relocation to Class A space in Emporium Tower. Knight Frank’s market knowledge ensured competitive terms and 100% staff retention.

3MHonda TradingLiberty Mutual GroupPhilips ElectronicsSouth African EmbassySANYOUnileverWalt Disney

Key Facts



Currency: Thai Baht (BAHT)

Quoted Rent: (BAHT) per sq m per month (gross)

Typical Lease Term: Three years with option to renew for one or two additional three-year terms. Rent includes service charge but excludes taxes (7%).

Average Class A Rent in Bangkok:BAHT 640 per sq m per month

Fees: One month’s rent typically paid by the landlord.

Rent Escalation: None; fixed for the term of the lease.

VAT: 7%

Thailand

The tenant representation contact in Thailand is:

Marcus Burtenshaw

Speaking fluent Thai, Marcus Burtenshaw has been working in Bangkok for over 10 years. He specializes in strategic advice, financial analysis, acquisitions and dispositions for multinational companies.

Knight Frank has two offices in Thailand:

Bangkok Phuket

Phuket

Bangkok

Track Record

Krea-Merrill LynchExclusive development consultants, advising the group on a 3,767,400 sf mixed-use project which included a 590,000 sf shopping centre, 1000 residential units and 540,000 sf office space.

Dunkin DonutsTenant representation for retail shops throughout the country.

Barcelo Tenant representation to lease properties for four- and five-star hotel operations.

Coca-Cola CompanyCiscoAvery Dennison Immo Logistics

Key Facts



Currency: Turkish Lira (TL)

Quoted Rent: Turkish Lira and USD per sq m per month


Average Class A Rent in Istanbul:USD 27.00 per sq m per month (gross)

Fees: Paid by the tenant. Typically 12% of annual net lease amount.

Rent Escalation: In most leases, rental rate increases are determined by annual or semi-annual CPI rates.

VAT: 18%

Turkey

The tenant representation contact in Turkey is:

Tevfik Orten

Tevfik Orten has 25 years of experience in commercial real estate brokerage, finance and development in Turkey.

Project partner - ORCO International

Istanbul

Track Record

EricssonConsulted for relocation and expansion of Hanoi office. Negotiated favorable lease terms for the tenant to lease 30,000 sf of office in Viet Tower, Hanoi. Advisory work continues today.

J.P. MorganRepeat client in Hanoi. Negotiated expansion with new lease. Offered consulting services for early termination negotiations.

ANZ BankProvided advisory and financial analysis regarding a 50,000 sf office premises in Ho Chi Minh City.

Hewlett PackardFordNorwegian EmbassyU.S. EmbassyTargetSony

Key Facts



Currency: Vietnamese Dong (VND)

Quoted Rent: US$ per sq m per month (gross)

Typical Lease Term: 3 to 5 years.

Average Class A Rent in Hanoi: US$36.90 per sqm per monthAverage Class A Rent in Ho Chi Minh City: US$35.50 per sqm per month

Fees: Landlord pays a fee of one month’s gross rent for new leases. Tenant pays half to one month’s rent or a percentage of achieved savings for lease renewal and rent review, and may pay one month’s rent for new leases.

Rent Escalation: Usually fixed for 2 to 3 years. Reviewed rent will be at the prevailing market rate with or without a cap of 15-20%.

VAT: 10%

Vietnam

The tenant representation contact in Vietnam is:

Stephen Wyatt

Stephen Wyatt has over 15 years of experience in commercial real estate specializing in leasing, sales and tenant representation.

Hanoi

Ho Chi Minh City

AmericasMichael IppolitoRichard Sexton125 Park AvenueNew York, NY 10017+1 212 372 [email protected]@ngkf.com

EMEATony Nicholas55 Baker StreetLondon, W1U 8AN +44 (0) 207 861 [email protected]

Asia PacificAlex Hill16 Raffles Quay30-00 Hong Leong BuildingSingapore 048581+65 6228 7360 [email protected]

www.newmarkkf.com

North AmericaCanada

Mexico

United States

EuropeAustria

Belgium

Czech Republic

France

Germany

Ireland

Italy

Netherlands

Poland

Portugal

Romania

Russia

Spain

Switzerland

Ukraine

United Kingdom

Asia-PacificAustralia

Cambodia

China

Hong Kong

India

Indonesia

Malaysia

New Zealand

Singapore

South Korea

Thailand

Vietnam

AfricaBotswana

Kenya

Malawi

Nigeria

South Africa

Tanzania

Uganda

Zambia

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Middle EastBahrain

Qatar

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