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News from Members The First Building Of Oregon Park Project Is Now Fully Leased

The First Building Of Oregon Park Project Is Now Fully Leased

by Portland Trust January 26, 2016

The first building of the new office project Oregon Park, developed by Portland Trust, one of the largest real estate developers in Romania, is now completely leased. The office space has been occupied by the American company Oracle.
Moreover, the area dedicated to food retail has been 100% leased, the latest tenant being the event catering company Flavours, with its brand Stradale. Flavours is one of the major players in event catering and restaurant operations. In Oregon Park, Flavours will open its fourth Stradale restaurant.

Among those who rented in the retail area is Lagardere Travel Retail, the operator of "1 Minute" concept. Present in the major medium and large business centers in Bucharest, "1 minute" is an international brand of fresh snacking & convenience.
From the technical standpoint, 95% of Building A’s structure is completed, the works on the interior and the facade are simultaneously progressing. The building consists of two basements, ground floor plus 6 floors, and has a leasable area of 20 104 m2. The completion date of Building A is June 2016. On the other hand, the development of Building B continues as planned, its leasable area amounting to 24 619 m2. Work on Building C will begin later this year. In total, the three buildings of Oregon Park project will cover an area of 69 342 m2.

"With every project developed in Romania, Portland Trust has set new standards of quality regarding office buildings in Romania, bringing the latest and most advanced technologies in the construction of Class A green office buildings. An example of a such technology is the geothermal heat pump system, which offers one of the highest known levels of energy efficiency in the world. Oregon Park sums up all specifications and technologies that have proven their efficiency in previous projects. The tenants will benefit from a better working environment, and significant discounts, of up to 40% of the final cost paid for energy used for heating and cooling", explains Florin Furdui, Country Manager Portland Trust.

The Oregon Park buildings will have BREEAM Excellent certificate, the same certification rating obtained by Floreasca Park, Portland Trust's previous project. Floreasca Park, a first class green office project, was awarded many international prizes, the latest being "Office Investment Transaction of the Year", won in December last year, at the 2015 CIJ Awards Gala.

Oregon Park is the sixth office project developed by Portland Trust in Romania, after Opera Center I and II, Bucharest Business Park, Floreasca 169A and Floreasca Park. With approximately 70,000 sqm of new office space, Oregon Park represents about 21% of the total of 330,000 square meters built and leased by Portland Trust in Romania, since 1999.

Oregon Park, located in Floreasca - Barbu Văcărescu area will benefit from latest technologies, and will be positioned above the standards of the local market in terms of sustainability and energy efficiency: geothermal heat pumps system, elevators with intelligent destination-control (DCS), LED lighting lamps, glass façade that ensures optimum transfer of light and heat.
The office park will have generous green spaces and seating areas, 700 parking spaces (for the first two buildings), charging stations for electric vehicles, bicycles tacks covered and secured with card and access pedestrian roads covered for protection in rainy weather.
Oregon Park offers easy access to city center, residential neighbourhoods and to the airport through avenues Calea Floreasca, Barbu Văcărescu and Nicolae Caramfil, but also to recreation areas and to Promenada Mall. Various means of public transportation are available in the area, including two subway stations.

Portland Trust is one of the most important real estate development companies in Central and Eastern Europe. The company was founded in 1997 by Robert Neale, who holds the position of CEO of the company. In 1999, part of Portland Trust was taken over by Apollo Real Estate Advisors American group, now ARES Management, in order to expand and invest in larger projects. In Romania, the company focused on the development of office buildings at the highest standards and an industrial area. Portland Trust has offices in Prague and Bucharest and has built to date more than 550,000 m2 of rentable space.
Portland Trust is also dedicated to a clear and simple environmental policy of using local, natural materials where possible, designing buildings in a fundamentally efficient manner, use of modern, efficient technology and adhering to both local and international guidelines for energy efficiency. The company has won several awards for design and sustainability.

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