PingProperties concludes lease with Province of Groningen

10-02-2021

PingProperties has concluded a new lease with the Province of Groningen for five years. The Province will lease approximately 621 m² of office space on the third floor of the Cascade complex at Emmasingel 4 in Groningen. The offices will be used by Groningen Bereikbaar and the Groningen-Assen Regional department (RGA).

This letting transaction has brought down the vacancy rate in the PingProperties Corporate Office Fund IV to 0%. During the coming years the city of Groningen will be working hard on the road and rail links, including the southern ring road and the Central Station. Groningen Bereikbaar is responsible for good information provision and coordinates the various projects, working with its partners during this period to keep the city accessible. The Cascade complex is centrally located and easy to reach by public transport, making it an ideal office location for businesses, including the RGA.

Cooperation between organizations
Groningen Bereikbaar works with the business sector, the government and many other partners on maintaining the accessibility of the city during major infrastructural works. This cooperative organization comprises the municipal and provincial governments of Groningen, Rijkswaterstaat and ProRail. The Groningen-Assen Regional department is an administrative alliance of seven municipalities and two provinces in the Groningen-Assen region. These authorities make agreements that extend across municipal and provincial boundaries in the areas of housing, mobility, spatial quality and the economy. They work together to create an economically strong and easily accessible region, giving its people an attractive living and working environment.

About the Cascade complex
The Cascade complex is situated at a unique location right next to Groningen Central Station. The complex is the largest multi-tenant government building in the Netherlands and accommodates 17 different government agencies, including the Central Government Real Estate Agency (RVB), the Employee Insurance Agency (UWV), the Land Registry, the Groningen Archives and the Telecom Agency. Solarfields also has offices in the complex. Thanks to its consistent strategy PingProperties has added value to the complex, and with the rollout of the sustainability plan two of the seven buildings have been awarded Energy Label A. The remaining buildings will follow this year. PingProperties’ strategy for the complex is creating a lasting difference for all stakeholders.