Immochan, the real estate division of the Auchan Group, has taken over the Coresi Business Park office project in Brasov, the company has announced. The project is located near its Coresi Shopping Resort mall which alongside the newly required offices and future housing units will be integrated into the Cartier Coresi mixed-use development, says the real estate company.
Coresi Business Park has a gross leasable area (GLA) of 40,000 sqm and it hosts 30 companies and more than 2,500 employees. The project had been developed by Ascenta Management, a local company controlled by Jacobs Holdings AG. Given the existing land bank, the office project can be expanded to a total of 100,000 sqm over the next ten years, according to Immochan representatives.
Cartier Coresi is located on the grounds of the former Tractorul industrial platform in Brasov, center Romania. Immochan took the first step in 2015 when it opened a 45,000 sqm shopping mall following an investment of about EUR 60 million. In addition to the retail and the office component, Immochan is presently investing in housing units on the grounds of the same project. For the construction of the residential component, it has teamed up with another developer, Avantgarden Immo Invest.
The first apartments are scheduled for delivery this year and some 95 percent have already been pre-sold, company representatives told BR earlier this year. The plan is to develop some 3,000 housing units.