CBRE advised the relocation process for the pharmaceutical company Novo Nordisk, who leased an area of 580 sqm offices in the Țiriac Tower building, located in Victoriei Square. The transaction was signed in March, in full swing of the COVID-19 pandemic lockdown, thus confirming the continuity of the transactions in the real estate market.
“The construction of Țiriac Tower carries on uninterruptedly and we have recently completed the superstructure of the building, respecting the time and safety conditions agreed. Țiriac Tower will be the most stylish and safe building in the central area of the Capital city, being also the only building in the Victoriei Square area that offers 1,200 sqm of terraces and patios, a benefit for which companies have shown high interest in the last two months,” revealed Răzvan Enache, Managing Director of Țiriac Imobiliare.
The Danish company Novo Nordisk, worldwide known for its insulin production, will take up the 9th floor of the Țiriac Tower building, consisting of about 580 sqm of offices and two terraces with an area of over 120 sqm, according to CBRE, who advised the transaction together with Victor Răchită.
“We wanted a modern building, with efficient spaces for our current needs, which reflects the sustainable approach of Novo Nordisk. Furthermore, we wished to remain in the central business area of the city, keeping everything at the fingertips of our employees and partners. Țiriac Tower met all these criteria and additionally offered a space flooded with natural daylight and large outdoor terraces, which are also important aspects for our team,” explained Cecilia Radu, General Manager of Novo Nordisk.
Țiriac Tower is the newest building in Victoriei Square, the iconic business area of the Capital city. The building has a leasable area of approximately 16,500 sqm, comprising 12 floors and will accommodate occupiers in the fields of law, strategic consulting, insurance, engineering and the pharmaceutical industry. CBRE has advised the lease of a total volume of 30 percent of the entire building so far.
“The show must go on is the anthem of every strong business these days and the transaction between Novo Nordisk and Țiriac Tower is yet another proof. During 2020-2021, approximately 300,000 sqm of office space will reach the expiration of lease contracts and we expect to see a similar proportion of renegotiations and relocation deals. We are also discussing with companies that have announced their intention to expand even during the lockdown period, relying on further business growth,” concluded Răzvan Iorgu, Managing Director, CBRE Romania.
In addition to the 16,500 sqm of offices, Țiriac Tower includes 259 underground parking spaces laid out in 5 basements, including parking lots for electric cars, as well as 42 spaces for bicycles. The project achieved “Core and Shell” LEED (Leadership in Energy and Environmental Design) pre-certification, for high standards of construction quality, sustainability and energy efficiency. The architecture of the building includes interior spaces designed to take full advantage of the natural light throughout the day.
The future occupiers will enjoy the utmost flexibility for arrangements, having the possibility to occupy spaces that vary between 500 and 2,000 sqm for each floor. In terms of interior design, the quality of materials and the elegance of the decorative lines will define the excellent environment offered to those who choose to set up their offices in this location.
