Floreasca Park reaches 100 pct occupancy rate

Portland Trust leased the entirety of Floreasca Park office building with a surface area of 37,000 square meters, according to The Advisers/Knight Frank, legal representatives for the project.

“In just a few months since delivery on the local market, The Advisers/Knight Frank signed lease contracts for the space on offer with important global companies, such as Allianz and the two recent American entries on the Romanian market: Kellogg’s and Kalon. After the construction was finalised in 2013, Allians was the first company to sign a lease contract, occupying 3,500 square meters. In a short while, Kellogg’s signed for 2,550 sqm, while another contract for 800 sqm was signed with Kalon, digital developer”, according to a press release from The Advisers/Knight Frank.

Developer Portland Trust and AREA Property Partners have launched Floreasca Park in Bucharest in 2012, a EUR 70 million office park made up of two class A office buildings with a total leasable surface of 37,500 sqm. More than half of the investment, which totals EUR 40-50 million, came from BCR financing. It is located at the junction of Barbu Văcărescu and Soseaua Pipera. The Aurel Vlaicu metro station is 300 m away and is on the M2 line, just 2 stops to Piaţa Victoriei.

Oracle, BASF, Sab Miller/URSUS and Saint Gobain are the other tenants at Floreasca Park.

Portland Trust finalised the project at the end of last year, built on a terrain bought from Gigi Becali and was intending to expand into more terrain bought from the business man but dropped the project given that the property in question is currently the subject of several trials.