Bucharest, 21th of July 2014 – Starbucks, the world’s largest coffee chain, will open a 200 sq.m. facility in Novo Park, the office park built by Liviu Tudor’s Genesis Development in Northern Bucharest. The leasing transaction was assisted by Colliers International and represents Starbucks’ first opening in an office project in recent years.

The Starbucks café in Novo Park will open this September and will serve an audience of about 40,000 people – the number of people working in Pipera area, including the 8,000 employees present in Novo Park. This is the 10th Starbucks location in Romania and the 8th in Bucharest. The 200 sq.m. space leased by Starbucks in Novo Park is located at the ground floor of building D, having direct access to Dimitrie Pompeiu Boulevard, one of the main access boulevards in the Northern area of the capital.  

 “The transaction marks not only a first – Novo Park becoming the first office park to host a Starbucks unit – but also an important event for the local economy, namely the resumption of Starbucks’ expansion after a considerable period of stagnation. Also, through this transaction, we re-included the office segment on the map of the world’s largest coffee chain, demonstrating that large players show increased confidence in the positive and sustainable development of the local office market”, said Andreea Păun, Associate Director of the Office Agency of Colliers International Romania.

Starbucks’ decision to open the first café of the year in Novo Park comes shortly after another significant transaction closed in Pipera area, respectively the transaction in which Getin Holding leased a 3,500 sq.m. office space in Hermes Business Park with the purpose to its new headquarter in Romania. “Starbucks is the second high caliber player who decides to open a strategic unit in the Dimitrie Pompeiu area, which proves, once again, that the local perception of the Pipera area is back on its well-deserved route”, concludes Andreea Păun, the consultant who mediated both transactions.

According to the yearly Market Review published by Colliers International Romania, Pipera area and, specifically, Dimitrie Pompeiu boulevard, rank first in the top of tenants’ preferred areas in Bucharest, attracting most of the transactions closed in 2013. In addition, an in-depth analysis of the contracts that were subject to renegotiations in the last year revealed that Dimitrie Pompeiu qualifies as one of the friendliest areas with a share of 40% in the total contracts renewed in 2013, followed by Piata Presei (15%) and Pipera (12%).

In Q1 2014, the Office Agency within Colliers International Romania mediated 10 office leasing transactions in Bucharest, totaling an area of approx. 27,000 m2. This performance positions Colliers as the leading real estate consultant on the office segment in Romania and, more specifically, the leading office consultant in Bucharest, with circa 50% market share.