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Articles - office rentals

CA Immo leases 1,300 sqm in Bucharest office building Orhideea Towers

After a thorough market analysis, MassMutual chose Bucharest landmark building Orhideea Towers for their Global Business Service Center, signing a lease agreement for 1,300 sqm on the top floor.

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The office space market in the third quarter was pulled up by renegotiations

In the third quarter of 2020, just ended, the office rental market in Romania accumulated 56,730 square meters and approached the same quarter of 2019, representing about 88% of that period, according to an analysis by ESOP Consulting. For more than half of these spaces, tenants preferred to stay in the same office buildings, with extension contracts being signed.

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Hartmann Has A New Office In The Immofinanz Myhive Iride | Nineteen Project

HARTMANN, the German company with over 200 years of tradition in the research and development of medical products, moves its office in Bucharest within the IRIDE Park project owned by Immofinanz.

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COVID effects on the office market: Renault to sublease part of the Renault Bucharest Connected building

Inaugurated a year ago, Renault's headquarters, Renault Bucharest Connected, which brings together all the divisions of the Renault Group in Romania, has become too big for the company in the context of COVID.

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Altex sign office contract renewal in Global City Business Park

Altex has signed the renewal of its lease agreement for the premises occupied in Global City Business Park, transaction brokered by Crosspoint Real Estate

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The new demand for offices is declining, the occupancy rate remains constant

New office space delivered in the first half of the year reached nearly 105,000 square meters, in tune with Colliers International’s estimates, but total demand in Bucharest was down by nearly 28%, to a bit over 124,000 square meters, while new demand halved after an exceptional year, to under 45,000 square meters.

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Transactions on the office market, the historical minimum in the last 5 years

The pandemic severely affected the office market, so office transactions slowed in the second quarter of this year.

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Demand for office space fell by 45% in the first half

The office space market in Bucharest was strongly affected by the coronavirus pandemic in the first half of 2020, the demand in the sector registering a decrease of 45% compared to the same period in 2019, according to an analysis made by the real estate consulting company Avison Young.

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