Global City Business Park renews contracts and targets an occupancy rate of 60% by the end of the year

Global City Business Park, one of the major office buildings in Pipera, owned by the Global Finance investment fund, announces the renewal of close to term contracts and targets an occupancy rate of 60% by the end of this year. 

 Situated in the Northern area of Bucharest, Global City Business Park has a built surface of 56,000 sqm and a total class A rental space of 51,000 sqm in two buildings with a height regime of 11 floors. Moreover, the project has an underground area of 28,000 sqm, where 844 parking spaces can be found, in addition to those existing outside the building. The project started in October 2007 and was fully completed in February 2010.

"Since the beginning of this year, we have renewed two of our most important contracts that were approaching their expiry date. Thus, Coca-Cola HBC Romania, which occupies an area of 5,400 sqm in the project, and Total Soft - with 3,500 sqm - wished to remain tenants of Global City Business Park, understanding the facilities we provide", said Ivana Bozjak, Partner and Head of Real Estate of Global Finance. 

According to her statements, at the beginning of this year, 45% of the project was occupied, while the current occupancy rate is 50%.

"By the end of the year we are focusing on concluding new contracts to fill the rental space up to 60%. In addition, in the next two years we aim for Global City Business Park's occupancy rate to reach an approximate 90%", Ivana Bozjak added. 

She also said that Global City Business Park currently has 26 tenants, and most of the leased space is occupied by companies such as Coca-Cola HBC Romania, Total Soft, Call Point, Euroins, Ford, Cycle, ICAP, Global Finance, Daewoo and Monsanto. Besides these companies, the retail space on the ground floor of the two buildings is occupied by various retailers and catering services.

"The retail space amounts to 4,000 sqm and it hosts a self service restaurant, a business lounge, a coffee shop, a beauty salon, a pharmacy, two ATMs an an Inmedio shop", Ivana Bozjak mentioned.

The extremely developed retail area is one of Global City Business Park's main strengths. This gives the approximately 2,000 people working in the building the opportunity to access as many services as possible throughout the day.

Regarding other benefits for tenants, the company representative said that the building's superior technical specifications, the efficiency and flexibility of the rental space, which can be arranged according to customer needs, are very important features Other advantages that stand out are the very good quality-price ratio and the low maintenance costs, compared to other similar projects.

"The tenants in our building value the quality of our services and facilities that we offer. An important aspect for them is providing transport to Global City Business Park with a direct shuttle bus from the Pipera subway station", Ivana Bozjak concluded.