First office building of Cluj Business Center is completed
The company Felinvest, the former Feleacul sweets producer from Cluj-Napoca has completed the construction works for the first A class office building on the former factory plot of land.
During last year, Cluj-Napoca get the attention of real estate investors for the development of office projects. The most important companies to develop new office buildings are Fribourg Development, owned by the former prime minister of Moldova Republic, Ion Stuza, the investment fund NEPI in partnership with the businessman Ovidiu Şandor, but also the Buzoianu brothers.
Therefore, the place of three former factories – Feleacul, Libertatea and Tricotaje Someşul, will be taken by new modern office buildings. The first to reach the completion are the Buzoianu brothers.
Initially, on the place of the former Feleacul factory were to be developed residential buildings. But the real estate crisis determined the owners to modify the project into office buildings. The company plans to develop by 2015, on a 20,000 sq. m land in Henri Barbusse Street the project Cluj Business Center, including three buildings with seven floors each which will offer at their completion more than 57,000 sq. m office space.
The first office building is already finalized and the tenants could move in starting 1st of June. The building is divided in two entrances, each of them having a rentable area of 8,000 sq. m, respectively 9,000 sq. m.
Next year, the company will start the construction works for the second office building, with a similar rentable area.
„It was our strategy to come on the market with A class office buildings and to be the first. We target important clients, and our tenants are the branches of big international groups, but also local call-center companies. We are currently in the pre-lease phase, followed by the signing of the contracts at the end of May. We estimate that after signing those contracts we will have a 95% occupancy rate", Călin Buzoianu, the president of the Felinvest board has declared for ECONOMICA.NET.
The investment for the first building reached EUR 30 million, an amount that came from loan at Carpatica and Transilvania banks. The major shareholder of Felinvest is Octavian Buzoianu, the brother of Călin Buzoianu. In 2009, the company changed its range of activity and started the real estate activity. (sursa: wall-street.ro)