IMMOFINANZ leases 16,000 sqm of its Bucharest office portfolio

IMMOFINANZ, one of the real estate investors in Romania, has signed since June numerous new partnerships and extensions of agreements with tenants in the local office sector, accounting for a total of over 16,000 square meters.

The company has attracted new tenants and expansions for 11,500 sqm and has prolonged existing contracts for another 4,500 sqm in seven of its class A office properties in Bucharest.

“2016 has been a period of consolidation for our Romanian operations, both in the office and in the retail sector. As we continue to invest in our existing properties, we are delighted to welcome new tenants, many of them top players in their sectors”, said Sorin Visoianu, country manager operations Romania at IMMOFINANZ. “The last five months also brought significant extensions of lease agreements with our existing partners, another success which confirms the efficiency of our tenant-oriented approach.”

Among the new IMMOFINANZ tenants are media group Ringier, which will operate on almost 2,500 sqm in Iride Business Park, TV production company Sinevizyon, which leased over 2,000 sqm in Pipera Warehouse, and one of the main players on the auto market in Romania, which has signed an agreement for about 1,500 sqm in North Center. The other new IMMOFINANZ tenants include important companies such as Tymbark, ND Medhealth and Sterling Cruise, while Q’s Inn, which already operates a unit in North Center, has leased an additional space in Iride Business Park.

Numerous lease contracts were also prolonged and extended. Long term tenant ING expanded its leased surface in S-Park by over 1,800 sqm, while one of IMMOFINANZ’s partners of over nine years from the pharma sector has prolonged their lease agreement for 1,500 sqm in Iride Business Park. Furthermore, Bucharest Corporate Center has become fully occupied following a 800 sqm premises extension of its existing tenant.