Bucharest office market: Demand exceeds the new offer over 4 times
18-07-2017
Net take-up of office spaces in Bucharest amounted almost 80,000 sqm in the first half of the year, meaning that an additional 10,000 jobs were created, given that companies usually allocate for each employee some 8 square meters. In total, gross take-up reached in this period of time 185,000 sqm, a slightly decrease when compared to first 6 month of last year (192,000 sqm). Development activity remains low, with only 43,000 sqm of new office spaces delivered in H1 in Bucharest out of 140,000 sqm expected for the entire year. Total demand exceeded the new offer over 4 times. The largest pro...
JLL is the property management company of Swan Office & Technology Park
05-01-2017
International advisory firm JLL has been selected by the new owner of the SWAN Office & Technology Park as property and asset manager of the office building located in the North part of Bucharest. JLL's responsibilities comprise maintaining excellent relations with tenants and extensive operational management services including overseeing subcontractors and maintenance costs. ”This is the second contract won by the JLL’s Property Management Department in the last 4 months. With this contract, the managed portfolio of the JLL in Romania grew at more than 200.000 sqm. SWAN Office ...
JLL has attracted € 6 million for Adval Asset Management
09-08-2016
Adval Asset Management supported by JLL’s Capital Markets team has successfully secured the refinancing of €6 million of Cascade Offices. Cascade Offices is a 4.200 m² office building delivered in 2005 and located on Buzesti Street, in the heart of the Central Business District (“CBD”). Among the main tenants, the project counts Procredit Bank, Enel and Taiwan TC. David Hayward, CEO of Adval, had this to say about the transaction: ”In 2014 Adval performed a management buyout of a portfoli...