“In a market now dominated by a hybrid working system which is prompting more and more companies to rethink their office space needs, AstraZeneca has kept its initial office area following a lease renegotiation with CA Immo. Strategies obviously differ across sectors of activities and there are companies that are reucing their office space but we think it’s important tenants consider their needs in the long term for when employees return to the office,” said Claudia Cetatoiu, senior consultant Office Department JLL Romania, which assisted AstraZeneca.
In Bucharest, 163,000 sqm of office spaces were transacted in the first nine months of 2020, of which 44.5% were lease renegotiations and renewals, JLL noted.