Businesses will make history here
In Bucharest’s Roma Square, on the former Baratiei street no. 2 – now I.C.Bratianu Boulevard, no. 36 –, Magazinul Universal Bucuresti is being rebuilt from the ground up. This building is not just famous; it’s a true landmark in Romania’s Capital, with a rich history and tradition going back decades.
How history was made
The story begins with the ambition of Bucur Bunescu to overcome his condition. Born close to the end of the 19th century and an orphan at the age of just 12, he came to Bucharest to work as a shop boy for a textile trader, Nicolae Popp. Bucur was young and only had four grades’ education, but he was confident and perseverant, hardworking and caring. In a short time, Popp made him associate, the trading company Popp&Bunescu was founded and profits were not late to appear.
As the company was thriving, the two associates set up for the construction of Magazinul Bucuresti. Built during the interwar period, starting with 1929 and up to 1939, the store became one of the greatest commercial centers of the city. Almost anything was sold here: clothing and accessories, musical instruments, toys or home appliances.
During the communist regime, the Bunescu family was deprived of all assets and the Romanian state took over the management of the center. After 1989, with the advent of modern shopping centers, the Romanian state was no longer involved in the modernization of the project and, in 2010, the building was returned to the heirs of the Bunescu family, who later sold it in 2013.
How history lives on
This year, Magazinul Bucuresti has another chance to shine bight, as its reconstruction will be finalized by the end of 2019. The future Magazinul Bucuresti will have a gross leasable area of around 3,150 sqm, 6 floors (6+GF) and will benefit from over 2,600 parking spaces in the vicinity, in Universitate, Intercontinental, Cocor and Unirii areas.
The new building can accommodate diverse concepts, from retail and services spaces to office, co-working or dining spaces. As a result, Magazinul Bucuresti could become the most important mixed-use project in the center of the Capital.
Colliers was assigned as exclusive agent for the leasing of the project and the team will make sure that businesses that choose to come here will have their own chance to make history and become landmarks themselves.
Due to the building’s central location (at the entrance on Lipscani Street), any business can benefit from both maximum visibility from the I.C. Bratianu Boulevard and the excellent connectivity to major public means of transportation (metro – Piata Unirii and Universitate stations, bus, tram). The pedestrian traffic is boosted by the proximity to the Old Town (the number of tourists here exceeds 2 million annually), to the University of Bucharest – around 25,000 students can be found in the area annually –, and to the Piata Unirii (1 and 2) and Universitate metro stations, that have registered in 2018 around 13.3 and 6.5 million trips respectively.
Yet the greatest advantage of bringing a business in Magazinul Bucuresti is being part of the story, tradition and success. Magazinul Bucuresti was an ambitious and visionary project when it was first built and it is fascinating to see how even now, at its reconstruction, it still keeps this aura. This building will always be an icon for Bucharest, inspiring constant growth and evolution.
