CBRE real estate consulting firm advised the American company Vertiv on concluding the transaction of renting a 4,500 sq m office space in the Advancity Business Center building, located in the central area of Cluj-Napoca. Vertiv is the global leader in the production of hardware, software and solutions for data centers, communication networks and commercial and industrial systems.
“The strategic move of Vertiv to the Advancity Business Center office building is also new for the company, being the first relocation process carried out locally. The team envisaged a modern office building, centrally located, in which Vertiv would become the main tenant, thus directly supporting the consolidation of the brand. The office has already become a tool for recruiting and preserving talents, especially in such dynamic markets as Cluj-Napoca, Bucharest, Timisoara or Iasi”, said Vlad Damian, Senior Consultant, Advisory & Transaction Services, within CBRE Romania, the specialist who advised the process of Vertiv’s relocation.
The Advancity Business Center office building is located on Someșului Street, near Mihai Viteazul Square, having the benefit of easy access to both public and individual transport. The building was delivered in 2019 and covers a leasable area of 6,820 sq m, comprising the ground floor, five upper floors, and also the underground parking.
According to CBRE Research data, the number of employees operating in the IT&C sector in Cluj county is estimated at 16,242 for 2019, with an expected increase of about 3% in 2020. Cluj is thus ranked second nationally according to the number of IT&C employees, after Bucharest – Ilfov region, where the number of those working in this sector is estimated at 89,183 for 2019, with an increase of 4% in 2020.
The stock of modern office spaces in Cluj-Napoca is evaluated at 312,000 sq m at present and 28,000 sq m are expected to be delivered by the end of 2020.
“The office market in Cluj-Napoca has undergone a fast development in recent years, both in terms of new developments and acquisitions we have witnessed, over 139 million euros being traded in the last year alone. With the new deliveries of 2019-2020, which also include mixed projects, integrating the office component with the retail and even with the residential one, Cluj-Napoca reconfirms its position as a leader of the regional cities. This is largely due to the efficient functioning of the ecosystem formed by the public administration, the academic environment and the business environment. Cluj-Napoca has become a successful pattern that can be replicated at national level”, stated Mihai Păduroiu, Head of Advisory & Transaction Services, CBRE Romania.
Nationally, according to CBRE Research data, the modern office space stock is estimated at about 3.8 million sq m at present, 190,000 sq m being scheduled to be delivered until the end of the year.