Immofinanz rented approx. 80,000 sqm of office space in Bucharest during the abbreviated 2016 financial year. That represents more than 40% of the total standing office portfolio in Romania. These transactions are expected to increase the occupancy rate in the office sector in Romania from roughly 88% to more than 94%. New rentals and expansions accounted for roughly 47,000 sqm or 60% of the rented space, while the remainder represents contract extensions. 

CA Immo has concluded rental agreements for around 12,000 sqm of office space in Budapest. The agreements include new rentals as well as contract extensions and expansions of existing tenants.

IT Services Hungary, the largest ICT employer of Hungary has decided to move its Budapest site to Skanska’s Mill Park, from Q2 2018 and will occupy approx. 17,300 sqm in the second phase of the complex. In the leasing process, ITSH was advised by Colliers International.

Savills has been appointed by Echo Investment to manage an 16,000 sqm office building, Nobilis Business House in Wrocław. The company has also been appointed to manage the 16-storey, mixed-use Wratislavia Tower on behalf of Cinema Tower Sp. z o.o. The 20,000 sqm property officially joined Savills portfolio in December 2016.

German fashion retailer Peek&Cloppenburg has leased 5,200 sqm in the extension of the AFI Palace Cotroceni shopping mall in Bucharest. Extension work to add 6,800 sqm of GLA to the mall is to be completed in May, bringing the total leasable area up to approximately 90,000 sqm. Peek&Cloppenburg’s new store is set to open this autumn.

EPAM, an international company which is involved in the development of software and implementation of IT projects, has leased an office area of nearly 3,500 sqm in O3 Business Campus which is being developed by Echo Investment in Kraków. CBRE advised EPAM in the leasing process.

Aluplast sp. z o.o., a supplier of PVC window systems, has signed a lease for 10,000 sqm of warehouse and manufacturing space at the Logicor Poznań III distribution centre. Cushman & Wakefield represented the tenant in the lease negotiations.

TriGranit appointed the Hungarian office of CBRE with the exclusive leasing of its latest development in Budapest. The Millennium Gardens office building is being constructed alongside the Palace of Arts and the National Theatre, on the Danube side of Soroksári Road. It will offer 37,000 sqm of leasable space and it is expected to be completed by 2019. 

Altex, one the largest retailers of electronics, home appliances, IT&C and multimedia products in Romania, has doubled its lease in the P3 Bucharest industrial park by signing a new contract for 15,000 sqm of warehouse space. 

ZF TRW, a global automotive supplier, has selected Symetris Business Park – developed by Echo Investment – as the location for its new electronics engineering centre in Łódź. The company has leased nearly 2,400 sqm of space. JLL advised ZF TRW on the process of selecting the new space.