New Work plans heavy expansion in Bucharest

21
Feb
2019
News - New Work plans heavy expansion in Bucharest #AFI Europe #Bucharest #New Work #office #Romania

by Property Forum | Office

AFI Tech Park, AFI Europe Romania’s latest business campus in Bucharest, announced two new tenants of AFI Tech Park 1, the first building of the office complex: New Work and Afcon Electra Romania. Following this transaction, AFI Tech Park 1 reaches an occupancy rate of 80%


AFI Tech Park 1 was finalized in Q3 2018, with a total GLA of 22,000 sqm of Class A offices, in the proximity of the Palace of Parliament and Unirii Square. After finalizing all three phases of the project, AFI Tech Park will become one of the most complex office projects in the area, offering 56,000 square meters of Class A office spaces in the two eight-storey buildings and an office tower of 14 floors.
 
The complex offers a wide range of services to tenants, such as a conference hall that can be booked on an hourly basis, available to all tenants, AFI Tech Park Club membership card, which offers discounts and benefits at nearby restaurants and partners, as well as World Class gym, which leased 1,500 sqm in AFI Tech Park 1. AFI Tech Park 1 already LEED Platinum pre-certified for “green building”
 
New Work provides workspace solutions for corporate clients, serviced offices and co-workers, and is one of the largest players in CEE, operating more than 25 centres in Hungary, Poland, the Czech Republic, Romania and Ukraine. New Work leased 2,800 sqm of office space in AFI Tech Park 1 and will also operate the building’s conference hall, which can be used by all tenants of AFI Tech Park 1, based on hourly booking, minimizing their operational costs.
 
“Signing the lease in AFI Tech Park 1 is a cornerstone for New Work’s market entry in Bucharest. We intend to operate at least 5 centres in Bucharest by 2020”, said Hubert Abt, CEO of New Work.
 
The transaction was brokered by Simona Urse, Associate Director Office Agency at Crosspoint Real Estate.
 
The second new tenant is Afcon Electra Romania, a market leader in developing and installing electrical, thermal, sanitary, ventilation and fire extinguishing systems. Afcon Electra Romania will relocate and expand its offices by leasing approximately 500 sqm in AFI Tech Park 1. The company implements complete electro-mechanical projects for commercial centres, office buildings, industrial buildings, hotels and hospitals.
 
New Work and Afcon Electra Romania join other companies that have already relocated to AFI Tech Park 1, such as certSIGN, Game World Group, RTC Proffice Experience, Knauf (with its two branches, Knauf Gips and Knauf Insulation), Hilti Romania, World Class, WWF, Connect 44.



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New leases

  • Echo Investment has signed a lease agreement with Auchan Polska for 1,200 sqm of retail space within Fuzja, a flagship multifunctional complex in Łódź. The retailer is scheduled to open the outlet during the summer of 2026.
  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.

New appointments

  • iO Partners has appointed Constantin Banu as Business Development Director for its Industrial and Land segments. With over 25 years of experience in the Romanian real estate sector, Banu is widely credited with helping shape the local logistics market. In his new role, he will oversee expansion strategies for the two segments.
  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.


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