The deal handled by real estate consultancy Colliers relates to a 4,300-sqm office space and allows for the consolidation of the local team, as well as continued expansion of the company in Cluj-Napoca.
“(…) After a thorough market analysis, where several locations were assessed, the tenant decided the best option is to continue in the existing location and cement is longtime collaboration with Iulius,” stated George Didoiu, Director | Tenant Services at Colliers.
In the past two years, contract renewals accounted for a significant part of market demand, as several companies have delayed office leasing decisions because of uncertainties related to hybrid work.
IULIUS portfolio includes two large urban regeneration projects and the national Iulius Mall network, as well as 15 A-class office buildings.
Cluj-Napoca office market has few available spaces, particularly in premium locations, having a general vacancy rate of below 3%.
(English version by Catalina Apostoiu)