In a significant move for the Bucharest commercial real estate market, Schindler Romania, the local branch of the Swiss elevator and escalator giant, has announced the relocation of its headquarters. The company has signed a new lease agreement for 1,160 sqm within Business Garden Bucharest, a prominent office development by Vastint Romania.
Schindler Romania's decision to relocate was driven by several key factors aligning with contemporary business needs. According to Alexandru Miu, Managing Director of Schindler Romania, the appeal lay in the development's modern setting, its potential to foster collaboration, and its strong emphasis on sustainability and eco-conscious operations. This reflects a broader trend among companies prioritizing not just location and size, but also the working environment's impact on employees and the planet.
A Transition to Class A Excellence
Ana Vicoveanu of CBRE Romania commented on Schindler's transition from a Class B to a Class A building, emphasizing the importance of finding a space that truly reflects the company's values and operational requirements. Business Garden Bucharest offers state-of-the-art technical specifications crucial for modern businesses, including high clear height, efficient fresh air supply, energy-saving equipment, and advanced water-saving technologies. These features contribute to a healthier, more productive workspace and lower operational costs, making it an attractive option for companies looking to rent office space in Bucharest.
Bucharest Office Market Trends
Sorin Macoveiu of Vastint Romania welcomed Schindler, noting the shared values between the developer and the new tenant. He also pointed out the current dynamics of the Bucharest office market, specifically mentioning the low new office supply projected for 2025 and the trend of declining vacancy rates. This market context suggests increasing competition for prime office locations, making timely leasing decisions crucial for businesses seeking to establish or relocate their presence in the city.
Schindler Romania's move to Business Garden Bucharest serves as a case study for businesses considering their own office space needs in Bucharest. It underscores the growing importance of location, modern facilities, sustainability features, and how these factors contribute to a company's identity and operational efficiency in Romania's competitive commercial real estate landscape.
