Griffes ended 2021 with a significant office leasing surge, placing the agency as the second best performing real estate player in the intermediated office leasing segment in Romania, a release shows.
The achievement tops Griffes’ 5 years of activity on the Romanian real estate landscape, which the company celebrated at the end of the year. The team extended significantly its activities throughout 2021, growing into land sales and industrial leasing by marketing a large-scale project to be developed next to Budapest airport in Hungary.
In 2021, Griffes team closed a total of 43,000 sqm office leasing transactions in Bucharest and regional cities, representing 15 percent of the total 290,000 sqm leased by all agencies in Romania during the year. Griffes signed the largest relocation move (and the biggest transaction of the year) with Wipro choosing Globalworth’s Square to pin its new headquarters – over 11,000 sqm.
They also managed the largest new entry in the office segment (Allyis Technologies chose a 1,500 sq.m. office space in AFI Park to set up its first headquarter in Europe).
The total value of all office leasing deals signed by Griffes in 2021 is close to 40 million euro, spanning Romania as follows: 69 percent in Bucharest and 31 percent in regional cities. Griffes activity continued to focus on office Landlord Representation, where the company is currently market leader, with more than 75,000 sqm. under exclusive mandates – starting from land acquisition, design consultancy, leasing strategy and sale. Other important pillars are Tenant Representation and Set-up services, advising tenants with their real estate strategy.
Numerically, Griffes closed more than 90 transactions since its inception in 2016. Over 60 percent of transactions represent new leases, reflecting Griffes’ experience in providing customized solutions and set-up for new companies coming to Romania or looking to make the jump from atypical office spaces to premium class A accommodation.
“In 2021 we reached new milestones, as we were agile and open enough to embrace new challenges; we added 4 office mandates: Paltim Timisoara, the distinct Muse in Northern Bucharest and 2 new brownfield projects outside the capital. We took the risk to advise our clients to put their money in Romania in some anti-cycle moves, so Allyis Technologies and. another major new player, both invested more than 3 million euro in the Romanian market. We extended our services on the land and industrial segments and we also exported our capabilities beyond borders, when the only trend we saw is for multinationals to cross the border and deliver in Romania. We have the luxury of doing things differently and we can afford to be bold in our business decisions, so that reflects also in the results for our clients: we offer them a fresh, unbiased, unexpected view over market opportunities,” said Andreea Paun, Griffes founder and Managing Director.
