Amsterdam-listed real estate company NSI has leased out the Rode Olifant (Red Elephant), an office building in The Hague that had become synonymous with high vacancy rates in the Netherlands and which has been vacant for almost three years.

Office-space provider Spaces has agreed to lease the full 10,000 m2 available in the building in The Hague. Spaces will be the first user of the building since law firm De Brauw Blackstone moved out in 2009.

NSI became the owner of the building earlier this year through its merger with another Amsterdam-listed real estate company Vastned O/I.