The company Elmec România, part of the Greece’s Folli Follie group, the owner of Nike stores on the local market, started the reconstruction works for a historical building at the crossroad Ion Câmpineanu St. with Nicolae Bălcescu Blvd, in Bucharest University area, a project involving an investment of approx. EUR five million.
Total office transactions in Bucharest is estimated to reach 240,000-260,000 sqm by the end of this year, the highest level in the last five years, according to CBRE report. Compared to 2012, the growth is 10%.
Ias is one of the most developed office markets outside Bucharest, with an estimated stock of approx. 142,200 sqm, representing an average of 490 sqm/mille inhabitants, less than a half compared to Bucharest, with 1,083 sqm office/ mille inhabitants, shows a report drawn by Jones Lang LaSalle together with Iulius Group.
Eximbank moves to Kiseleff Palace, one of the most well-known villas in Bucharest, on 3,800 sqm, announced BNP Paribas Real Estate, the real estate consultant which brokered the transaction. Eximbank was formerly located on Natiunile Unite Blvd.
Occupancy costs of logistics in Bucharest will only grow with 0.3% by 2017, to 77 dollars/sqm annually, being among the slowest evolutions forecast at global level, shows the most recent DTZ report dedicated to the market segment.
Greek businessman Ioannis Papalekas bought back for EUR 17.3 million the commercial centre City Mall in Bucharest, bankrupt in 2010. Apart the mall, Paplekas’ s company also bought other plots owned in Bucharest by Victoria Holding SA, the company that owned the project before the sale. Papalekas sold the mall in 2006 for EUR 103.5 million to the Australian fund APN European Retail.
The company Corinthian Five, owned by the businessman Ioannis Papalekas, one of the most discreet, but active real estate investors one former showroom Porsche Aviaţiei. The plans involve the construction of an office building.
According to the results of a survey of senior property investors, developers and occupiers conducted by CBRE, the world’s largest commercial real estate services company, European occupier appetite for industrial and logistics property is expected to rise significantly in the next two years. In the opinions of 81 percent of the industry’s top professionals growth in e-commerce activity and the associated impact on the supply chain, which includes warehouse storage and logistics property means that the need for warehouse space will rise. The survey also identifies third-party logistics operators and retailers as important sources of demand for logistics space.
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