Cushman & Wakefield Echinox takes over the management of Floreasca Park office project in Bucharest
The real estate consulting company Cushman & Wakefield Echinox has been appointed to manage Floreasca Park office project located in the Floreasca – Barbu Văcărescu area in the north of Bucharest, the largest business hub in the Capital.
Cushman & Wakefield Echinox will have responsibilities in the management of the daily administrative-operational activity within the project, through a team of specialists both on-site and at the headquarters, coordinated by Mihaela Petruescu, Partner Asset Services.
Mihaela Petruescu, Partner Asset Services, Cushman & Wakefield Echinox: “We are honored to be involved in the administration of the Floreasca Park project, one of the most representative business parks in the Floreasca – Barbu Văcărescu area. As we experience this atypical period, without precedent, our role and involvement as property managers is essential in supporting the return of employees to an office space adapted to the rapidly-changing conditions and trends.”
With a leasable area of 39,350 square meters and tenants such as Oracle, Kellogg’s, BASF, Saint-Gobain or Ursus Breweries, Floreasca Park was completed at the end of 2013 by Portland Trust. During this year, following a transaction mediated by Cushman & Wakefield Echinox, Resolution Property and Zeus Capital Management acquired Floreasca Park from a fund managed by GLL Real Estate Partners GMBH (member of the Macquarie Group).
Floreasca Park integrates an efficient design and low energy consumption, the two class A buildings, connected by an underground car park with 586 spaces, being BREEAM “Excellent” certified. The property benefits from numerous connections to public transport and facilities for tenants, Promenada Mall and the King Mihai I (Herăstrău) Park and Floreasca Park being located in the immediate proximity.
The project is located in the Floreasca – Barbu Văcărescu area, considered the “New CBD” (Central Business District) of the Capital, given that a number of the largest companies in Romania have established their headquarters in modern offices with an area of 520,000 square meters built in the area.