Romania has development potential for retail projects in smaller cities, and five counties with a combined population of 1.8 million inhabitants are not covered by any modern retail schemes, according to a report by real estate consultancy Cushman & Wakefield Echinox.
Cushman & Wakefield Echinox has been appointed to manage Floreasca Park office project located in the Floreasca - Barbu Văcărescu area in the north of Bucharest, the largest business hub in the Capital.
A survey prepared by Cushman & Wakefield in partnership with FIHR, targeting Romanian hoteliers, was launched in November 2020 to understand the impact of COVID-19 on the Romanian hotel industry and their perspectives on the outlook of this sector. This survey is the second instalment after a previous questionnaire that was launched in April 2020. The intention is to gain the appropriate attention and appeal to authorities for more meaningful and targeted support towards our hospitality sector. Cushman & Wakefield and FIHR remain committed to ensuring that the industry receives appropriate support by collecting and analysing available data and appealing to authorities.
Cushman & Wakefield Echinox has been appointed to manage the Ţiriac Tower office building in Bucharest’s Central Business District, starting with October. As a result, Cushman & Wakefield Echinox will be responsible for the management of daily administrative-operational activity within the project, through a team of specialists both on-site and at the headquarters, coordinated by Mihaela Petruescu, Partner Asset Services.
The Tei Group, which includes the Farmacia Tei network of pharmacies and Bebe Tei stores, leased approximately 10,000 sqm in the Metav industrial park in northern Bucharest, to build a semi-automatic warehouse, a transaction intermediated by Cushman & Wakefield Echinox.
The Romanian logistics market will have a record demand by the end of 2020, with a transactional volume exceeding the 700,000 square meters threshold, amid the accelerated development of e-commerce and the positioning of Bucharest as a regional logistics hub for a series of international retailers, according to Cushman & Wakefield Echinox.
The office market in Bucharest continues to grow, with 124,000 of modern office space delivered in the first nine months of the year 388,000 sqm more in the pipeline, according to Cushman & Wakefield Echinox. The commercial stock of office buildings in Bucharest reaches about 2.9 million square meters with an additional 150,000 sqm of owner-occupied stock.
The stock of modern retail spaces in Romania has exceeded the level of 4 million square meters after the latest deliveries of shopping centres, but the market development pace will slow down in the next period, according to Cushman & Wakefield Echinox.
Tech start-up A4BEE has leased 600 sqm of office space in Wojdyła Business Park in Wrocław. Cushman & Wakefield advised the owner for this transaction.
Colliers branch in Katowice has changed its address. Since September the office is located in the .KTW I building on Roździeńskiego Avenue 1a. Colliers has taken the space on the first floor of the building.
Meat2Eat has leased 400 sqm for a new restaurant that it opened on the ground floor of One Tower office building in Bucharest. The transaction was brokered by Cushman & Wakefield Echinox. The building is owned by Romanian developer One United Properties.
Łukasz Czajkowski joins the team of JLL Poland as Business Services Lead in Tenant Representation Department. He will be responsible for enhancing relations with the BSS sector.
Craig Maguire has been appointed Head of Pan-European Logistics for BNP Paribas Real Estate. He will head up the European coordination of the Logistics business (Investment and Rentals/Sales), alongside the local teams of BNP Paribas Real Estate.
Victor Cosconel is the new Head of Industrial & Business Development at real estate consultancy Colliers Romania. He has more than 20 years’ worth of experience in sales, business development and general management. Before joining Colliers, he was CEO of Sodexo Bulgaria.
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