Station Properties announces the full leasing of its Portugal office building

Written by: Javier Menendez

Lisbon, January 23rd, 2024 – Station Properties, the Lisbon-based asset manager, announces the full leasing of a prime 12,000 sqm office building located in Lisbon – Rua Ramalho Ortigão 51.

Ramalho Ortigão 51 (ROC51) building is a landmark asset located in Lisbon´s city centre, boosting great accessibility, visibility, and corporate image. The asset is situated in a central area of the city, where the main transportation hubs: metro, train, and buses intersect.

The high-quality building consists of 10 above-ground floors with floor plates exceeding 1,000 sqm. In addition, the property also features 169 parking slots, an auditorium, and terraces.

Station Properties’ strategy consisted of performing repositioning works into the building bringing it to best-in-class qualities and adapting it to users’ needs. Furthermore, sustainability has also been at the core of the strategy, investing substantial capex in green efficiencies to comply with ESG standards that achieved BREEAM Excellent certification.

Since 2020, the office market has suffered from high vacancy rates across Europe. However, Station Properties has managed to conclude the leasing of 12,000 sqm during 2023 to AAA tenants including ANACOM, CIMPOR, SLV and the Embassy of Japan. Station Properties has overperformed in a challenging office market, proving that grade-A office buildings still attract quality tenant demands.

Station Properties is an Incus Capital (“Incus”) company focused on specialized asset management and active value creation of commercial real estate. The company has in-depth know-how of innovation and sustainability concerning the latest trends in real estate, particularly in offices and other asset classes.

Alejandro Moya, Founding Partner and head of Real Estate at Incus Capital commented “This achievement reinforces Incus Capital’s proficiency in identifying investment opportunities. Furthermore, it underscores the company’s adeptness in successfully implementing its business plan of active asset management and value creation.”

Station Properties extends its appreciation to JLL and Savills for their invaluable assistance in the leasing.