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(Sharecast News) - Commercial property investor CLS said on Wednesday that it has let 2,165 square metres at its 'Office Connect' site in Cologne to a world-leading supplier of agricultural crop protection products.
CLS said the new, unnamed tenant will occupy the second and third floors of its multi-let Office Connect property in Cologne's Airport Business Park, with the lease scheduled to commence on 1 October 2026 on a term of ten years.
The London-listed firm also highlighted that the agreed rent was 3.6% above the current estimated rental value.
Rolf Mensing, CLS' German head, said: "We are delighted to welcome another occupier to Office Connect in Cologne. The lease exemplifies what is key to success in the German office market: an active asset management approach; a close relationship with tenants; and the ability to offer bespoke solutions to meet business requirements.
"CLS Germany's strategy incorporates all these elements, and our targeted investments in the building quality and energy efficiency of our properties are proving effective."
As of 1025 BST, CLS shares were down just 0.0051% at 64.80p.
Reporting by Iain Gilbert at Sharecast.com
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