Local Ikea Supply subsidiary leases 1,000 sqm in HQ Victoriei

Onofrei, who used to work for industrial investor Goodman as head of Romanian operations, is now focusing on his work with Aleph Properties, which is doing investment management on real estate and tenant representation. “We will be focusing on tenant representation and on possible capital inflows,” said Onofrei. The 1,000-sqm lease is among the few such deals signed this year. For the market segment to unfreeze, landlords need to lower rents, Onofrei believes. The 5,000-sqm office building into which Ikea will be moving is located in an area where rents are around EUR 20 per sqm per month. Based on this market price, the deal would work out at some EUR 1.2 million for the entire lease period. The fee for intermediating a lease deal is usually 15 percent. Ikea is present in Romania both directly, through Ikea Supply AG, which is in charge of the Swedish furniture firm's supply chain in Romania, and through a franchise held by Moaro Trading, which runs an Ikea store in Bucharest.
Corina Saceanu