ROMANIA INDUSTRIAL Q1 2023
Bucharest, March 2020: The real estate consultancy company Cushman & Wakefield Echinox was commissioned to manage Mendeleev Office 5, an office building recently delivered in Bucharest downtown, by Akcent Development.
This is the fourth office building that has been taken over under the management of Cushman & Wakefield Echinox, the Asset Services department being responsible for the daily administration of the building, tenant relationship management, operational supervision, financial services and landlord reporting, through on-site specialists and at the company’s headquarters, coordinated by Mihaela Petruescu, Partner Asset Services.
Mendeleev Office 5 is a boutique office building, which revitalizes a historic area of the city, being located between Piaţa Romană and Calea Victoriei. The building has easy access to public transport, the Piata Romană subway station and numerous bus lines being located 5 minutes walk-away, the area being also well-known for the diverse offer of restaurants, cafes, hotels and cultural spaces, such as the Romanian Athenaeum, the Central University Library or the National Museum of Art of Romania.
The building has a rentable surface of 4,500 square meters distributed on basement, ground floor and eight upper floors. The underground parking has 50 places and is equipped with bicycles facilities and electric charging stations. The design of the building facilitates the access of the natural light, and the exterior filtering golden facade fits in the profile of the area. The project includes walkable terraces, intelligent integrated technologies, hybrid climate-control system architecturally designed and integrated, heat insulation, motorized windows, low energy consumption, and the terraces on the 3rd and 8th floors stimulate the tenants’ creativity and offer a panoramic view of the center of Bucharest.
The occupancy rate of the building is over 60% at delivery, among the tenants being financial consulting, PR and marketing or construction companies (Jazz Communication, Tud Investment Consulting, Aktor, Skin Media). Advanced discussions are for the 6th and 7th floors, therefore only the first floor and the ground floor – suitable for two commercial spaces fitting, are available for lease.
Mendeleev Office 5 is developed by Akcent Development, which also owns Eminescu Offices building, managed by Cushman & Wakefield Echinox, and Rosetti Tower building.
Mihaela Petruescu, Partner Asset Services, Cushman & Wakefield Echinox: “Our clients’ trust and our team’s determination to deliver premium professional quality services have recommended us to be appointed property managers of the Mendeleev Office 5 project. It has been an ongoing sustained work during 2019, in which our team was involved in the two office projects, Eminescu Offices and Mendeleev Office 5, along with the owner, therefore our new mandate came naturally later this year.”
Cushman & Wakefield Echinox is a leading real estate consulting company in the local market, operating in all segments of the real estate market. The Asset Services department manages retail, office and logistics projects with a leasable area of over 400,000 square meters in Bucharest and other cities.
Cushman & Wakefield Echinox, the exclusive affiliate of Cushman & Wakefield in Romania, owned and operated independently, has a team of over 60 professionals and collaborators offering a full range of services to investors, developers, owners and tenants. Cushman & Wakefield, one of the global leaders in commercial real estate services, with 51,000 employees in over 70 countries, assists tenants, owners and investors in optimizing asset value. With revenues of $ 8.2 billion, the company’s main services are: asset and investment management consulting, capital markets, leasing, property management, tenant representation, project and appraisal services. For more information, visit www.cwechinox.com