Immofinanz 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 informs. This equals to more than 40 percent of the overall standing office portfolio. Approx. 60 percent 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. (…) 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,” Sorin Visoianu, Country Manager Operations Romania at Immofinanz said.
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. Another Immofinanz partner, PORR Construct, chose to establish its headquarters here, on a surface of over 1,800 sqm.
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).
Several Immofinanz office tenants also chose to prolong and expand existing agreements in the eight months of the abbreviated financial year 2016, accounting for nearly 33,000 sqm.