Starbucks opens 8th Bucharest coffee shop in Novo Park

Newsroom 21/07/2014 | 15:43

Starbucks will open this September a 200 sqm coffee shop in Novo Park, Bucharest, announced today Genesis Development, the office project’s developer and owner. This will be the 10th Starbucks outlet in Romania and the 8th in Bucharest. The lease was brokered by Colliers International.

The coffee shop will be located on the ground floor of the D building in Novo Park, with direct access from Dimitrie Pompeiu Boulevard.

“Closing the deal with Starbucks at Novo Park represents a big success for the approximately 8,000 employees working in our buildings, as well as for other employees in the Pipera neighborhood”, said Liviu Tudor, president of Genesis Development.

The Starbucks coffeehouses chain “is in constant expansion in Romania,” added Petko Zahariev, shareholder of the company that owns the Starbucks franchise in Romania. Up until recently the franchise for Romania was owned by Marinopoulos which opened the first local Starbucks coffee shop in 2007.

The Novo Park office complex comprises seven buildings with a total leasable area of around 75,000 sqm. Tudor also owns the West Gate office park in western Bucharest (75,000 sqm GLA) and the West Gate Studios private campus.

The revenues reported by the company in 2013 from renting the three projects amounted to EUR 33 million, up 5 percent y-o-y. The growth came after the developer completed the fifth office building of the West Gate project (15,000 sqm) and slightly increased the occupancy rate, according to company data.

Novo Park tenants include Hewlett-Packard (HP), Mondelez Romania (formerly known as Kraft Foods), Garanti Bank, Ringier, Sodexo, Infineon Technologies, Yokagawa, Luxoft and UniCredit.