Norwegian Property has entered into a lease contract with DLA Piper Norway DA (law firm) for an area of in excess of 5 000 square meters at Stranden 5 at Aker Brygge. The lease length is 10 years and the tenant is expected to move in during the first quarter 2015 when the current refurbishment project is completed. The rent is agreed on market terms and reflects both the attractiveness of Aker Brygge and the standard of the building after a planned refurbishment.

The building Stranden 5 (previously the Kaibygg I) was originally built in 1986, and was previously the head office of DnB. The property is currently undergoing a complete refurbishment and will offer modern functionality, space efficiency and environmental friendly offices. The property comprises approximately 30,000 square meters. Stranden 5 has has one of the most attractive locations at Aker Brygge, with the seafront on one side and the square (Bryggetorget) on the other side.

“We are very pleased with the new lease contract. Combining the new contract with DLA Piper Norway and the previously announced contracts only about 9 000 square meters remain to be let in Stranden 5, of which office space comprise appr. 5 000 square meters. Total letting ratio is 71 per cent one year before completion." says Norwegian Property’s CEO Olav Line.

“We are very pleased to enter into a contract for what we consider to be the most attractive office space at Aker Brygge,” says country manager Hans Christian Brodtkorb, Managing Partner in the law firm DLA Piper Norway DA.

“DLA Piper in Norway has seen a very positive trend over past three years and is today a young, dynamic and innovative company. As part of one of the leading global law firms, with 4 200 laywers in more than 30 countries, we were looking for offices that correspond to our corporate identity. Our new offices of Aker Brygge will reflect our current business, which will be further developed over the next decade.

“From our perspective the process with Norwegian Property has been a very positive experience. We have met a customer oriented and professional property company, and look forward to the co-operation going forward,” continues Brodtkorb.

For further information, please contact:

Olav Line, CEO, Norwegian Property, phone +47 48 25 41 49

Aili Klami, EVP Leasing and Marketing Norwegian Property, phone +47 95 26 45 55

Hans Christian Brodtkorb, Country Managing Partner, phone +47 92 22 22 31