Latest News  

Portland Trust celebrates 20-year anniversary with start of last phase of Oregon Park, Bucharest

The central European property developer Portland Trust and US based Ares Management are embarking on the final phase of Oregon Park, their new office park in Bucharest. This event coincides with the company 20 years anniversary on the international real estate market.

2017-09-14 18:56:53

In October Portland Trust will start construction on Building C at the award winning Oregon Park, which will comprise 25,000 m2 net office space over 2 levels of underground car parking on ground and 6 upper floors. Building C will be a mirror image of Building B and will complete the business park at a total of 70,000 sqm net. The excavation has already been completed and the tender process will finish shortly, with completion of the Building C scheduled for end of 2018.

Building C will house another Stradale restaurant, operated by the event catering company Flavours, which has proven to be a winning and popular concept, and discussions are taking place with a fitness club for 1,500 m2 also on ground floor, adding further amenities to the park. Most of the remaining space is under discussion with companies already in the locality.

The 4 hectares site was bought from Gruppo Nusco in 2014 and Strabag was the general contractor for Phase 1, which comprises 45,000 m2 in two buildings. The 20,000 m2 Building A was entirely leased to Oracle and Building B is now nearly fully leased with 6,000 sqm remaining. Deloitte Technologie has continued to expand and currently leases over 5,500 m2 and two new leases to international technology companies totaling 3,600 m2 will be announced shortly. Other tenants include Medicover, Kambi, Europa FM and Euler Hermes. If current negotiations are successful, then it is likely that Building B will be full by the end of 2017.

Oregon Park is the last of three major office projects in the Barbu Vacarescu / Floreasca location developed by Portland Trust. The first being Floreasca 169A (38,000 m2), which was completed in March 2009, fully leased to Honeywell, ABB, Colliers, Abbott, Holcim, Marsh, DHL, L'Oréal, and ENI, and then sold to NEPI in December 2010. The second was Floreasca Park (39,000 m2) which was leased to Oracle, Allianz, Kellogg's, BASF, Saint Gobain and Ursus before being sold to Munich based GLL Partners at the end of 2015, one year after completion.

Both Floreasca Park and Oregon Park are heavily landscaped and have a ground-sourced heat pump system which saves tenants 35% of their heating and cooling costs. The buildings set a new standard in the market in terms of efficiency, technical quality and micro environment per work station. Floreasca Park won Office Development of the year 2014, Green Building and Green Leadership Awards at CEEQA and recently Oregon Park won Best Office Building of the year for BPO sector.

Since 1999, when it started activities in Romania, Portland Trust and Ares have invested approximately EUR 400 millions and developed 306,500 m2 of leasable area, of which 161,500 sqm of office spaces in 6 projects in Bucharest, and 145,000 m2 of industrial developments, in one industrial and logistics park, Bucharest West.

Since the first development in 1999 at Opera Center in Piata Operei, Portland has tried to improve the standard of its buildings and improve various locations in Bucharest, including the creation of the office hub at Miorita fountain where Bucharest Business Park became the City's first true office park. Portland's buildings have passed the test of time and even Opera Center is full today, 17 years after completion. Similarly, tenants such as IBM, BAT, SONY and Coca Cola remain at Bucharest Business Park after 12 years. Both buildings have proven to be good long term investments for CAIMMO.

Portland Trust is a commercial developer in Central Europe and was founded in 1997. Robert Neale is the owner and Managing Director of the company which has offices in Prague and Bucharest and has built to date more than 600,000 sqm of new commercial space. Portland Trust has a long-term joint venture with Ares Management LP, a partnership that has allowed Portland Trust to expand and invest in large projects in various countries throughout CEE. In Romania, the company focuses on the development of institutional quality office buildings.


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
CTP is launching a project for the workforce market in the areas near its parks in Western Bucharest

CTP, the leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, is starting a social responsibility program that aims to facilitate a series of meetings betw

 Read Full article »
AI, the "performance engine" in Romania's business service industry

ABSL (the Association of Business Service Leaders in Romania) debated during its annual conference the future of the business service industry in our country and AI's influence in this sector's performances.

 Read Full article »
JLL Bucharest City Report: Industrial, logistics and offices were the drivers of the Romanian real estate development market

The industrial, logistics and office sectors in Bucharest were the drivers of the real estate development market in the first nine months of the year, while the retail sector recorded the lowest growth rate in

 Read Full article »
Microsoft extends partnership with Romania's Bitdefender to global level

Microsoft has extended its partnership with Romanian cybersecurity and anti-virus software company Bitdefender to a global level, Gabriela Matei, General Manager, Microsoft Romania announced at the 2017 Microso

 Read Full article »
Certent opens new office in Bucharest

Certent, Inc., a leading provider of software-as-a-service (SaaS) solutions for equity compensation and financial disclosure management today announced the opening of a new office in Bucharest, Romania.

 Read Full article »
Companies leased 45,000 sqm of office space in Q3 IT and outsourcing players – the main drivers of demand

The Bucharest office market saw a net take-up of close to 45,000 sqm in this year's third quarter. According to data from the real estate consultancy company Colliers International, the demand came mostly from

 Read Full article »
ABSL: The negative Impact of EO draft will lead to decrease of FDI and employment rate

ABSL Romania examined the emergency ordinance draft to amend the law no. 227/2015 regarding the Fiscal Code and concluded that the implementation of these measures will have a negative impact on Romania's inter

 Read Full article »
Farlei Kothe becomes EMEA vice president at Stefanini

In two years, he built a team of 200 people from scratch and made us 20 million US dollars revenues.. For the last nine years, he's been with us – first as the manager for our application development centre a

 Read Full article »
CTP acquired Phoenix Logistics Center for approximately 7 million Euro

CTP, the leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, registered the fastest development pace in 2017, since it entered the Romanian market.

 Read Full article »
Veeam's Hub in Bucharest exceeds 350 employees

Veeam® Software, the innovative provider of solutions that deliver Availability for the Always-On Enterprise, has passed the 350 staff milestone in its Bucharest, Romania, hub.

 Read Full article »
 
MOST RECENT VIDEO
 
 
MOST READ ARTICLES
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» ABSL: BRD First Tech challenge in Roma...
» Gartner: Romania moved into the first ...
» Molson Coors started to grow its busin...
» Vastint Romania celebrated the opening...
» Healthcare IT outsourcing market is ex...
» Roxana Tesiu appointed as the new Vice...
» Exclusive OT print issue: Genpact may ...
» Manpower:Romania has world's third hig...
» ManpowerGroup launches ManpowerGroup S...
 
EDITOR CHOICE
Societe Generale European Business Services support the IT education in Romania through a partnership with ACADEMY+PLUS

Societe Generale European Business Services (SG EBS), part of Societe Generale Group announces a partnership with ACADEMY+PLUS, a revolutionary coding school, tuition free, opened this year in Bucharest.

 Read Full article »
TELUS International Europe: The convergence of customer service and digital marketing/NewGen technologies: What does it mean for businesses?

Technology shapes the way we educate, communicate, conduct business and advance science, all while maintaining significant influence on the global economy. But the way we engage with technology is changing

 Read Full article »
Stay updated on People in Shared Services and Outsourcing Forum, October 19

Outsourcing Today organizes the third edition of People in Shared Services and Outsourcing Forum, on October 19, 2017 in Bucharest at Caro Hotel.

 Read Full article »
Preparing for the new future

Business shared services in Romania is by nature a flexible, mobile and diverse community and in this context, local markets develop their own particularities to address the global changes, to adjust to new dem

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events