Bucharest, December 13th, 2012 – Colliers International Romania mediated the leasing transaction in which the local subsidiary of Danish pharmaceutical producer Leo Pharma took a 300 sq.m. space in The Lakeview office building, located on Barbu Vacarescu boulevard in Bucharest.
Space optimization, the quality and comfort of the new office space were the main criteria that contributed to the client’s relocation decision. LEO PHARMA decided to relocate its operations on the 13th floor in The Lakeview, which proved to offer the most advantageous mix of qualitative development, corporate representation and services.
”A top company will always look for a top property to align its corporate image to, motivate employees and benefit from professional services. The Lakeview was the property to respond perfectly to Leo Pharma’s requirement and an instant match was made at the first viewing”, states Oana Sirbu, Associate in the Office Agency of Colliers International Romania.
Located in northern Bucharest, the emerging headquarter area with the largest number of Class A office projects in the city and the lowest vacancy rate, The Lakeview was named the “Quality Award as CEE Real Estate Office Development of the Year 2010”. Delivered in the first quarter of 2010, the project has a total rentable area of 24,000 sq.m., holds 480 parking spaces and benefits from excellent public transport connections. At present, the building is 100% occupied by top tier tenants such as PWC, RBS, Huawei, Colgate Palmolive and Philips.
“Although we have never had any vacancy into the building since its completion, we have managed to bring in several new tenants, strong covenants like Huawei last year and Philips this summer. Our recent success is illustrated by Sodexo opening their first catering premises in Bucharest on 7th of January and Leo Pharma occupying their space by end-February. This steady line of transactions is a strong proof of the re-letting potential of The Lakeview, probably unequalled in the current market”, stated Mihai Plaesu, Business Development Director of AIG/Lincoln Romania.
According to the most recent market review, published by Colliers International in Romania at the end of Q3 2012, competition in Floreasca – Barbu Vacarescu area will intensify in the following period as the projects activated during the summer period started the pre-leasing process. In addition, most of these developments are scheduled for delivery in 2013 – 2015, at a time when the contracts of most of companies in the area will come to completion. At present, the Barbu Vacarescu – Floreasca area is the most attractive for tenants based on the mix of high-quality buildings, good accessibility and first-rate facilities.