Novo Park extends lease with Yokogawa – EuropaProperty

Novo Park, a business park in Bucharest, has extended a lease contract with Yokogawa Europe BV for the third time, totalling a 14 years lease period. Novo Park is a business center situated in northern Bucharest, developed by Genesis Development, owned by Romanian businessman Liviu Tudor.

Yokogawa has the headquarters in Novo Park since 2017, being one of the most long-lasting tenants of the business complex. During this time, the company gradually extended and renewed its lease contract. The most recent extension of the lease contract was recently signed for a period of five years, between 2016 and 2021. Yokogawa currently occupies an area of 1,350 square meters in building F.

“Novo Park has been a long-term partner for our tenants ever since its inauguration, ten years ago. Our tenants continuously expand their lease areas and extend their lease contracts”, said Liviu Tudor, president of Genesis Development. “The fact that Yokogawa decided for the third time to stay in Novo Park honours us. We are happy to have strong consolidated relationships with our tenants and to see that they appreciate the quality of the buildings and of the administration services in Novo Park”, added Liviu Tudor.

Novo Park also recently extended the lease contract with HP, the company’s total lease period reaching 18 years, a record for the office market in Romania.

Yokogawa Europe BV is one of the top suppliers of programs for clients in the energetic and oil industries such as Shell, Exxon Mobil, BP, Total and companies with activities in the oil sector in the Middle East.

The Novo Park office complex comprises seven buildings with a total leasable area of around 75,000 sqm and 1,100 parking places. The office park was awarded the BREEAM Very Good certification.

Among the companies based in Novo Park there are such names as: Hewlett-Packard (HP), Mondelez Romania (formerly known as Kraft Foods), Garanti Bank, Ringier, Sodexo, Infineon Technologies, Yokagawa, Luxoft and UniCredit.