Thales Romania, local subsidiary of the French designer and builder of electrical systems and provider of services for the aerospace, defence, transportation and security markets, has leased another 5,300 sq m in Orhideea Towers office complex in the Centre-West area of Bucharest, thus doubling the area occupied in the project owned by CA Immo. The real estate consultancy company JLL advised Thales in the process of identifying the best extension options and in negotiating the contract.

“Thales becomes the largest tenant of Orhideea Towers, with almost 11,000 square meters of office space, respectively 30% of the area of the building. This is the second phase of our partnership with Thales, the first phase materializing last year by representing them in the relocation transaction in 5,300 sqm of offices in Orhideea Towers. We were able to identify for Thales a flexible solution that would allow them to further expand their operations in Romania”, said Maria Florea, Key Client Director JLL Romania.

The Center-West area of Bucharest is one of the most dynamic office sub-markets in Romania. Many companies that are interested in Bucharest office market, consider this area due to the multiple public transportation solutions, the proximity of the largest university campus in Romania and the engineering and IT faculties.

The total office stock in the West Center reached over 416,600 square meters, 14% of Bucharest total stock, another 57,000 square meters being planned for completion by the end of next year.

"This transaction is a new proof that Romania is a winning bet for companies that already have business here. Thales expansion comes after a series of expansion projects that have been completed on the local market. The success that companies have in Romania encourage them to bring new lines of business or to expand the existing ones, so that in the last period we see an increase in the share of expansion contracts in the total demand of offices”, stated Viorel Opaiț, Business Development Director JLL Romania.

Thales has relocated to Orhideea Towers at the end of last year from Riverplace (Riverview House), also owned by CA Immo. Currently, more than 550 specialists work in the company, and the plans are aimed at reaching the figure of 1,000 engineering specialists by 2021.

“This transaction is in line with our growth plans for Romania that we have announced several times. We looked for the best solutions to develop our business lines on the Romanian market and with the help of JLL we were able to identify the solution that would ensure us the fulfilment of these desires and that would help us to offer an attractive and tender working environment for current and future employees", said Cristian Pîrcălabu, CFO Thales Romania.

Orchidea Towers is located in the west-central part of Bucharest, in the newest office pole of the city. The project has a total rentable area of about 36,500 square meters and includes two "H" shaped towers, connected by a glazed bridge, having areas between 1,200 sqm and 2,600 sqm per level. The building is LEED Platinum certified.

NOTES FOR EDITORS

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.ro

About Thales

Thales has been active in Romania for 40 years and has developed its industrial operations in the country since 2007. Initially the company was a supplier to the Romanian armed forces. Over the last ten years or so, the Group has also become a major player in the Romanian rail transport industry and now operates a mainline rail Competence Centre employing 200 software engineers. Today, Thales is continuing to address the country’s transport needs while expanding its areas of focus to include defence and security, science and technology, as well as aviation and space.

About CA IMMO

CA Immo specialises in office properties in Central European capitals. The company was founded in 1987 and operates today in the core markets of Austria, Germany, Poland, Hungary, Czech Republic and Romania. CA Immo is listed on the Vienna Stock Exchange and included in the ATX index and holds property assets of around € 4.7 billion.

CA Immo in Bucharest

The Bucharest asset portfolio, which accounted for approximately 10% of the total portfolio of CA Immo as at 31 December 2017, consists of six office buildings as well as the Orhideea Towers office development in Bucharest, comprising around 165,000 sqm and an occupancy rate of 90%.