CBRE and IWG (International Workspace Group) have so far carried out eleven new space rental and renegotiation projects.
Regus and Spaces are labels of flexible workspaces designed to increase the productivity and creativity of companies and start-ups. The brands are owned by IWG, a multinational corporation headquartered in Luxembourg, whose portfolio also includes Basepoint, No.18, Signature and Open Office. IWG entered the local market in 1999 with the Regus brand, and in 2018 it launched the Spaces brand in Romania. Regus is the pioneer of the coworking market in Romania, a segment that is in a process of accelerated growth in recent years.
Among the most important coworking transactions negotiated by CBRE for Regus and Spaces are:
• 2015 - renegotiation for the 2,500 m² occupied by Regus Rosetti;
• 2015 - renegotiation for Regus' 1,000 m² office space in the World Trade Center;
• In 2016 - arranging the transaction for the opening of Regus in Iride Business Park, which occupies 1,500 m²;
• 2017 - the inauguration of Regus Plaza Romania, approximately 1,300 m²;
• in 2017 - renegotiation for the 2,000 m² space occupied by Regus in Floreasca 169A;
• In 2017 - the opening of Spaces in Campus 6, with an area of nearly 3,200 m²;
• In 2018 - a lease for a new 3,000-square-foot office space for Spaces in the Unirii View Tower;
• In 2018 - the rental transaction for the largest Spaces headquarters on the local market, with a surface of 4,100 m², in the Expo Business Park complex;
• 2018 - renegotiation for the Regus headquarters in the Charles De Gaulle Plaza, where it occupies 1,400 m²;
• In 2018 - the lease of a new 1,200-square-foot office for Regus in the D'or Business Center;
• In 2018 - the lease for a new 1,000-square-foot estate for Regus in Sun Plaza.
"Our partnership with IWG, originally for the Regus concept and, since 2018, for Spaces, lasts for three years and becomes stronger with the passage of time. Collaboration with one of the largest providers of flexible working spaces makes us extremely proud. It is a success not only for the CBRE portfolio, but also for the local market, which has managed to attract such an important player from a niche that has a growing share in the office space market, "said Victor Ripped, Business Development Executive of CBRE Romania.
Currently, CBRE has in progress for Regus and Spaces, office space transactions that will cover cumulative surfaces ranging from 10,000 m² to 15,000 m². According to agency representatives, these transactions will be completed within a minimum of six months and a maximum of nine. For the next period, the IWG's goal is to cover all business areas through the Spaces concept and to expand massively in both Bucharest and all major cities in the country.
"Coworking spaces are the offices of the future. Young people want to work in unconventional spaces, and companies with high quality labor are willing to meet this requirement. The concepts of Regus and Spaces are based on a solid investment and extremely complex know-how. They are interested in large spaces, and the development costs are around 800 euro / sqm. We are convinced that together with CBRE, the IWG will be extended to all major office projects in the country and we consider this collaboration as an important success for the Romanian market. The entry into the local market of a company with the experience and results of the IWG is an asset, especially since in about 10 years, according to our estimates, no developer will build an office building without including a flexible working space”, concluded Ramona Predescu Iacob, Country Manager IWG. (source: CBRE)
