Immofinanz leased over 80,000 sqm of its Bucharest office portfolio last year

Immofinanz, one of the leading real estate investors in Romania, has leased over 80,000 sqm of its Bucharest office portfolio in the abbreviated financial year 2016, the equivalent of 10,000 sqm per month in the May-December 2016 period, a press release shows.

2017-02-28 14:59:35

This equals to more than 40 per cent of the overall standing office portfolio. Approximately 60 per cent of the surface is comprised of lease deals with new tenants and further extensions, while numerous agreements have been prolonged.

"We had set very ambitious objectives for the past financial year, and still, our results in Romania exceeded our expectations," said Sorin Visoianu, country manager operations Romania at Immofinanz. "It is also remarkable to note that, of the total leased area in Bucharest last year, a record-level reported by market figures, about one in five tenants chose Immofinanz properties."

In May-December 2016, Immofinanz signed lease agreements with new tenants for over 47,000 sqm of office space. Among the most significant deals were those for the first building of the Metroffice complex, of which over half is now occupied. American company Harman, designing and engineering connected products and solutions for automakers, consumers and enterprises worldwide, signed a lease agreement for 7,700 sqm in Metroffice, for a period of over ten years.

Other new agreements have been signed with important companies from a wide range of sectors: media (Ringier, with 2,400 sqm in Iride Business Park and Sinevizyon, with 2,000 sqm in Pipera Warehouse), retail (Kaufland, with over 2,000 sqm in Pipera Warehouse) and office-shared services (Regus, with 1,500 sqm in Iride Business Park).