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Colliers brokers largest-ever office lease in Turkey

Torun Tower, IstanbulColliers International has preleased over 60,000 m2 of the Torun Tower in Istanbul on behalf of Torunlar REIT in what it claims is the largest-ever office lease recorded in Turkey.

The space has been leased to Denizbank, one of the leading institutions in the Turkish banking sector.

Torun Tower is a new Class A office project located in Istanbul's Central Business District due to be completed in June 2014. It comprises 65,600 m2 of office space spread over 35 floors.

Kerim Cin, managing partner at Colliers International, commented: 'The immense size of this lease transaction between Denizbank and Torunlar REIT, together with the fact that it is a pre-lease, proves the level of improvement, that the Class A office market has come along in the last 10 years in Turkey and its bright growth potential into the future. We are confident that large lease transactions such as this one, in Turkey, will create confidence to the market and attract more interest from local and foreign institutional real estate investors and developers.'

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