Bucharest’s Nord City Tower reaches 50 pct occupancy after signing new tenant

Newsroom 10/09/2013 | 16:02

Homeycomb has signed a long term lease agreement for the entire 2nd floor of Bucharest’s Nord City Tower (NCT) office project, or about 900 sqm, announced DTZ Echinox who mediated the transaction.

This takes NCT’s occupancy rate to above 50 percent, compared to the first quarter of 2012 when it stood at 18 percent, announced the real estate consulting company.

NCT is owned by ING and is located in northern Bucharest in the Pipera neighbourhood, a popular office location for IT and telecom companies, shared services providers or back-office units.

AIG/Lincoln is the project’s property manager and leasing coordinator. A new strategy was implemented and upgrading works were carried out in the past two years in order to bring the building at similar specifications with the larger office schemes in the area, says DTZ.

The building is medium-sized, having approximately 13,000sqm of total built area and 9,120sqm of rentable area, from which approximately 8,000sqm of office space and the rest suitable for retail use.