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Romania: IMMOFINANZ welcomes new tenants and consolidates existing partnerships in the office sector

IMMOFINANZ, one of the principal real estate investors in Romania and the leading office building owner in Bucharest, announces several new partnerships and extensions of agreements with tenants in the local office sector, accounting for a total of over 21,000 sqm. The company has prolonged and extended existing contracts for over 19,000 sqm and has attracted new tenants for about 2,400 sqm in five of its class A office properties in Bucharest.

“2015 has certainly been a busy year for IMMOFINANZ in Romania. While we continue to develop new premium office properties, such as Metroffice, we are very happy to see how high the demand for our existing properties continues to be. The extension of many lease agreements, as well as the new tenants joining us, demonstrate that our strategy of consistently putting the needs of our clients first and building long-term relationships with them will always pay off,” said Sorin Visoianu, Country Manager Office & Logistics for Romania and Bulgaria at IMMOFINANZ.

After recently welcoming new tenant Grupul Media Camina (Radio Zu and Radio Romantic) and consolidating the partnership with Syngenta Agro, the good news from Victoria Park continues: major software developer SIVECO Romania has prolonged its lease agreement for 5,500 sqm in IMMOFINANZ’s premium office building for another 7 years. This relationship dates back to 2006 and is now set to run for a total of at least 17 years.

Another long-standing tenant of the Austrian company, KPMG, has chosen to expand its rented area in Victoria Park by almost 670 sqm, to a total of almost 6,400 sqm, and has prolonged its lease agreement for another 5 years. As such, IMMOFINANZ’s partnership with KPMG is set to extend to at least 15 years.

Another major local office building, S-Park, welcomes new tenants: B.Braun, a long-term IMMOFINANZ tenant from LOG.IQ Timisoara, has now signed a 5 year contract for 450 sqm in S-Park, while Best Chef will open an outlet based on its Cafeteria Restaurant concept in the same building. Best Chef has signed a 5 year lease for retail space of approximately 990 sqm in S-Park.

Furthermore, pump manufacturer Grundfos Pompe Romania has prolonged its 630 sqm lease in S-Park for an additional 5 years. Grundfos has been a partner of IMMOFINANZ since 2011. SkyConsult Ro, a provider of IT consulting services, has also prolonged its lease in S-Park for approx. 530 sqm for another three years.

Another IMMOFINANZ property that welcomes new tenants is Baneasa Airport Tower: ProCredit Bank has signed a 5 year lease for approx. 330 sqm, while Hafele Romania will also become a tenant, with a 5 year lease for approx. 300 sqm.

IRIDE Business Park also announces a new partnership: Real Velarde, who will bring CrossFit “The American Way” to Bucharest, will lease approx. 300 sqm in this property for a period of 5 years. The new tenant plans to convert the space into a fitness center, to open starting with December.

Several existing tenants have also prolonged and/or extended their lease agreements in IRIDE: Terapia Ranbaxy, part of the Sun Pharmaceutical Industries group, has extended its 2,000 sqm lease following an alliance with IMMOFINANZ dating back to 2006. The partnership with Ropharma started in 2008, and the company has now prolonged its agreement for 975 sqm in IRIDE.

Another tenant which extended its lease agreement is Telekom Romania – the company prolonged a 1,200 sqm lease for an additional 10 years. This makes the partnership with IMMOFINANZ set to run for a total of at least 17 years. Furthermore, the REGINA MARIA - The Private Healthcare Network has prolonged a partnership dating back to 2004 for an additional 5 years. The company has also expanded its rented area in IRIDE to approx. 275 sqm. Another long-term partner of IMMOFINANZ, Alcon, has prolonged its 650 sqm lease, which began in 2002.

Furthermore, Bucharest Corporate Center announces the prolongation of the partnership with Wolf Theiss, another long term tenant of IMMOFINANZ. The leading Central, Eastern and South-Eastern Europe law firm chose to renew its 1,200 sqm lease in the premium office building for another 5 years, making its collaboration with IMMOFINANZ set to run for at least 11 years.