Yarrells Property has represented Ricoh in the renegotiation of the lease of its office headquarters in Sant Cugat, Barcelona. After analyzing several attractive opportunities to move to a new property in a highly competitive office location where with a high vacancy rate, landlord and tenant reached agreement to extend the existing mandatory period in return for a reduction in rent.

Ricoh has also expanded the area it will occupy in the building by some 1500m2 to almost 9,000m2. This represents close to 90% of the total lettable area and confirms Ricoh’s commitment to this strategically positioned high profile building at the intersection of two major highways.

March 2014