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Successful representation of Skanska by CBRE in the sale of Building C of Green Court Bucharest Over 450.000 sq m are currently under construction in the Capital

Date: 08/01/2017
Source: CBRE
  CBRE announces that it successfully represented Skanska Romania in the sale of building C of Green Court Bucharest office complex to Globalworth Real Estate Investment for EUR 38 M. Green Court C Bucharest is a LEED Gold certified office building with 16 300 sqm leasable area, located in the most active business district of Barbu Vacarescu-Floreasca area.
“CBRE has worked with Skanska since the project’s start and are delighted to see its successful conclusion. The sale reconfirms the quality of Skanska’s development with its green interior courtyard, the continuing strength of the leasing market and the enduring attraction of the location. We look forward to future projects.”, says Robert Paulson, Head of Capital Markets, CBRE Romania.

This transaction concluded in a very dynamic context of Bucharest Office market. The modern office stock reached 2.72 mil sq m at the end of Q2 2017 and by the end of the year, the total annual volume will be 140.000 sq m and the total stock to 2.79 mil sq m. Over 450.000 sq m are currently under construction with estimated delivery date during the next three years, out of which 319.00 sq m are developed without a pre-lease.
The Green Court Bucharest project was developed using green technologies and sustainable solutions used to minimize the building’s environmental footprint and significantly reduce its operating costs. Building C of the complex is 91% leased, among its tenants being companies such Capgemini, General Motors, ABB, Merck, Legrand and Tetra Pak.

Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential premises, and public-private partnerships projects. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has about 41,000 employees in selected home markets in Europe and North America. Skanska's sales in 2016 totaled SEK 151 billion.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue).  The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.

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