The project is part of the CPI Romania portfolio, one of the largest players on the local real estate market and was completed in 2019, benefitting from a BREEAM Outstanding certification.
“Expo Business Park is the most impressive property in the CPI Romania portfolio, with an occupancy rate of 100%,” Fulga Dinu, country manager of CPI Romania, says.
Cushman & Wakefield Echinox will be responsible for the management of the daily administrative-operational activity within the project, tenant relationship management, operational supervision, financial services, and landlord reporting, as well as for the implementation of community management programs dedicated to tenants. Moreover, the services provided also include overseeing the relationship with subcontractors and authorities, following the compliance with legal requirements, and creating opportunities and solutions for increased efficiency in line with ESG standards through a team of specialists both on-site and at the headquarters.
“The office market is going through a repositioning period and managing buildings in a proactive manner through which we can quickly and effectively respond to the tenants’ requirements and needs, represents a competitive advantage for landlords,” says Mihaela Petruescu, partner, Asset Services, with Cushman & Wakefield Echinox.
The portfolio managed by the company’s asset services department stands at almost 500,000 square meters, with a total market value of EUR550 million. The projects in question accommodate 230 tenants from a wide range of industries, with operational expenditure budgets amounting to EUR9.65 million.
The Expo Business Park complex is one of the largest Class A office projects in Bucharest, being located in the Expozitiei area, 450 meters away from 1 Mai metro station. It consists of three buildings, with an area of 40,950 square meters.
The main tenants include ING Bank, MagnaPharm Marketing & Sales Romania, Deutsche Leasing, Mars, Omega Pharma, Regus / Spaces, Royal Canin and World Class.
(English version by Loredana Fratila-Cristescu)