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

CBRE advised Eli Lilly and Company in the process of renewing its offices from Bucharest Business Park (BBP), a project owned by CA Immo in the northwest 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”, said 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 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 approximately 164,000 sqm, representing 5 percent of the modern office stock in Bucharest. We are happy to support Eli Lilly in this record long-term partnership”, said Vlad Damian, Head of Investor Leasing, Office, CBRE Romania.

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