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News from Members CBRE assisted Eli Lilly in renewing the lease in Bucharest Business Park

CBRE assisted Eli Lilly in renewing the lease in Bucharest Business Park

by CBRE October 14, 2021

Website www.cbre.ro

CBRE, leader in the real estate consultancy market, advised Eli Lilly and Company (NYSE: LLY) in the process of renewal its offices from Bucharest Business Park (BBP), a project owned by CA Immo in the north-west of Bucharest.

Eli Lilly occupies around 900 square meters of office in Bucharest Business Park. Certified LEED Gold, Bucharest Business Park is accommodating important companies such as: British American Tobacco, Coca Cola, AstraZeneca, Bayer, 3M Romania, Sony, Ergo Asigurari, Project1, Heidelbergcement, IPSO, Goodyear and Alior Bank.

During the last 15 years, this unique project has proven to be a place where people enjoy working. Even during these pandemic times, the utilization rate of the buildings remained high, as CA Immo has obtained the internationally COVID-19 Compliant certification granted by Safe Asset Group and the DEKRA Trusted Facility certification for its entire Romanian portfolio, thus confirming the measures implemented to comply with national and international health and hygiene regulations and protocols. For Bucharest Business Park, 2021 is a year of renewals, including Eli Lilly’ lease extension which is confirming our valuable partnership”, stated Marian Roman, Managing Director of CA Immo Real Estate Management Romania.

Set on a generous 2 ha land, Bucharest Business Park is located on one of the most important boulevards of the capital city, in the immediate vicinity of Free Press Square (Piața Presei Libere). The project comprises four high quality office buildings, each of 4/5 floors and within an open composition, providing ca. 27,000 sqm of office space.

Eli Lilly is one of the first tenants of Bucharest Business Park, since 2006, being among the pioneers which appreciated the potential of this unique location: close to the airport and the Herastrau Park, with excellent visibility from DN1 and with a plenty of green spaces. During the last 10-12 years, the Press Square area has developed around Bucharest Business Park, being today one of the most desired office hubs in the city, with a stock of approximatively 164,000 square meters, representing 5% of the modern office stock in Bucharest. We are happy to support Eli Lilly in this record long-term partnership”, declared Vlad Damian, Head of Investor Leasing, Office, CBRE Romania.

During first half of the year, the total leasing activity in Bucharest reached 112,000 square meters, with 17% higher compared with the first six months of 2020, according to CBRE Research. Renewal transactions accounted for 54,700 square meters, with 53% higher than the amount transacted during the same period of 2020.

About CA Immo:

CA Immo is an investor, manager, and developer specialised in modern office properties across the gateway cities in Germany, Austria, and Central Europe. The company covers the entire value chain in the field of commercial real estate including a high degree of in-house construction expertise.

Founded in 1987, CA Immo is listed on the ATX index of the Vienna Stock Exchange and holds property assets worth around € 5.9 bn in Germany, Austria, and CEE. In Romania, CA Immo has been present since 2001 and owns a portfolio of seven office buildings: Opera Center One and Two, Riverplace, Europe House, Bucharest Business Park, Campus 6.1 and Orhideea Towers, which total a rentable area of approximately 165,000 square meters. For more details, please visit caimmo.com or follow us on LinkedIn.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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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