After attracting one of the largest tenants on the Romanian market (ORACLE 25,000 Sq M pre-lease in 2012), The Advisers/Knight Frank continued to fill the 37,500 Sq M award-winning project Floreasca Park, developed by Portland Trust/ARES Management in Bucharest.
Within a few months of completion, The Advisers/Knight Frank signed leases with renowned global occupiers for the remaining space. The most recent lease agreements include Allianz and two new U.S. companies entering the local market: Kellogg’s and Kalon.
Allianz was the first company to sign once the building was complete, at the end of last year and took 3,500 Sq M. Shortly after, Kellogg’s, the famous American multinational food manufacturing company, signed for 2,550 Sq M office space, and another contract of 800 Sq M was signed by Kalon, a leading digital development company, serving as a central hub for digital innovation in Europe.
Multinationals BASF, Sab Miller/URSUS, Saint Gobain are other occupiers of Floreasca Park, in lease transactions advised by The Advisers/Knight Frank last year.
Floreasca Park attained 83 points and an “Excellent” BREEAM rating. The development is the first truly energy conscious office project in Bucharest and had a successful year having won two of the most important awards of the real estate industry: Best Office Building of the Year at Central and Eastern European Quality Awards (CEEQA) – in Warsaw, and Office Development of the Year at EuropaProperty Real Estate Awards – in Bucharest.
Robert Neale, owner and managing director of Portland Trust, stated that “Floreasca Park is the first of a number of new office buildings that are focused on efficient design and low energy consumption. We will continue to use geothermal heat pump technology which reduces utility costs and service charges. The Advisers/Knight Frank embraced the fact that Floreasca Park was not just another project with “green marketing” and that the innovative technology would bring genuine cost savings and successfully brought it to almost full occupancy within months from its delivery to the market.”
Horatiu Florescu, President & CEO of The Advisers/ Knight Frank: “Little can match the benefits of the most environmentally advanced project delivered to the Bucharest market by a quality developer. Tenants with both vision and environmental conscience have chosen this high performance office space which is quite different than the generic “Class A space”. As always, the developer’s responsiveness and management of tenants’ requirements in a proactive manner, supported the leasing and negotiations process.”
This new success story of The Advisers/Knight Frank confirms its top position on the local office market, maintaining the largest annual market share since 2010 in Romania. The consultancy holds the largest landlord representation on the market, representing several modern projects, landmarks on the Romanian office segment. Recently, the team also announced the largest pre-lease market share in the last 4 years (83% of the total surface signed between 2010-2013).
