ModaTim Investment opens third building in City Business Center Timisoara

ModaTim Investment, the developer of the office complex City Business Center (CBC) Timisoara, has officially opened the third, C building, Jones Lang LaSalle, the exclusive leasing agent, has announced. LaSalle recently mediated the expansion of Wipro in CBC Timisoara.

“We are happy to see many tenants in the first two buildings expanding their activity in Timisoara, which signals a return to the growth trend, at least for multinationals and large companies,” said Ovidiu Sandor, CEO of ModaTim Investment.

The new building in the City Business Center complex has a total rentable space of 9,500 sqm and features 100 parking spaces. The mezzanine hosts a cafeteria, while retail and services outlets take up the ground floor. The C building in CBC entailed a EUR 10 million investment. Building works were carried out mostly by local firms – from architectural offices to construction companies.

City Business Center is located in downtown Timisoara, close to the 700 Square. It was designed by architectural firm Andreescu & Gaivoronschi.

The occupancy rate of the first two buildings is 95 percent, and the third building is currently 85 percent full. Companies with offices in the new building include Wipro (which has 5,000 sqm), Visma, Ferring Pharmaceuticals and Midtown Retail.

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ModaTim Investment has started works on the fourth building in the complex, which is expected to be finished in June 2012. City Business Center will include five blocks with a total surface of 35,000 sqm. The total investment made by ModaTim in CBC is expected to exceed EUR 50 million.