The property returns to the market under Hagag’s brand, and will be officially known as H Herăstrău Park. With this new portfolio addition, Hagag Development Europe extends its current offer with over 6,800 square meters of office and retail space.


H Herăstrău Park enjoys a gross built area of approximately 10,000 square meters displayed across a high regime of 1UGF + GF + 4F, with a leasable area of over 6,800 square meters comprising retail space on the ground floor and office on the upper levels, to which about 100 underground and above-ground parking spaces are added.

 

“H Herăstrău Park marks two important milestones for our company: on one hand, we are consolidating our current offer in terms of office and retail space, and, on the other hand, we are expanding of our presence towards the northern part of Bucharest, beyond the residential projects currently under development in the area. We are excited about this new transaction and about adding to our portfolio a new mixed-use project that will help us respond better to the growing demand in the market,” said Yitzhak Hagag, Cofounder and Chairman of Hagag Development Europe.


Over the upcoming months, the building will undergo a light refurbishment process focused on revamping all common areas, and will be welcoming its first tenants beginning of July 2025. 18% of the available office space has already been leased, with the developer’s leasing team currently in advanced discussions to rent out over 2,500 square meters of office and retail space. The company estimates an occupancy rate of at least 70% by the end of this year.

 

“We feel honoured for the trust that our partner has invested us with, and confident about the evolution of this collaboration, just as we are optimistic about the positive dynamics of the leasing activities. Our forecast shows that by the end of this year we will be reaching an occupancy rate of at least 70% for the entire building,” Yitzhak Hagag added.


All refurbishment and fit-our works, as well as the facility management and leasing operations will be entirely managed by Hagag Development Europe.