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ZURICH, SWITZERLAND-The Canton of Zurich Pension Fund, BVK Zurich, is developing an office complex here that when completed will have more than 74,000 sm, or more than 800,000 sf. The fund has announced that it will soon start work on three office complexes that will total 33,000 sm, or more than 355,000 sf, in the Vertex office campus.

The complex already has one 35,000 sm, or 376,736-sf office tower, a BVK spokesman tells GlobeSt.com. “A telecommunications company uses the whole building,” he says. “We are starting to look for tenants for the new properties, and we expect to have them completed and 50% leased by the end of 2012.” The buildings being developed include the Stadhtaus, with four basement levels and seven upper floors, and another building with four basement levels and 14 upper floors. The cost of the complex has not been disclosed.

The Zurich North area is the one of the high growth areas for the country, says BVK, being fully integrated into the public transportation network. Current tenants nearby include PricewaterhouseCooopers, UBS and Pfizer. The spokesman says the growth is going to outlast the current downturn threats. “At the moment I think tenants are a little more prudent. It’s a good market here, but not as good as it was last year,” he says.

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