Godewind Immobilien AG reported another new lease agreement shortly after the announcement of the last significant leasing successes. Just after the early lease extension in the Y2 office complex in the Merton district of Frankfurt which was reported a few days ago, Godewind has signed a new tenancy agreement with a specialist publisher for labor and social law for office space of 1,526 m2 and storage space of 319 m2. The tenancy agreement with a lease term of ten years begins on 1 April 2020. This will raise the contracted annual net cold rent for the building by more than 26%, or around EUR 0.7 million, to EUR 3.4 million since it was closed in February of this year. The office vacancy rate in the Y2 will decrease from 28% to less than 23%. The rental agreements now have a weighted average lease term (WALT) of 11.5 years. This new lease agreement will further improve the portfolio key performance indicators.