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Boutique-type office buildings consolidate their segment on the local market

By the end of 2018, eight boutique office buildings with premium locations and facilities have entered the office market in Bucharest, with a total area of 31,949 sqm, according to an analysis delivered by ESOP Consulting.

2018-10-22 16:36:07

According to research, most projects are scheduled to open in the last quarter of this year. In 2017, five such buildings were completed and three more remain for next year. Among the tenants who have recently moved to boutique offices are companies such as Douglas, Visa, Norwegian Embassy, AT Kearney, McCann PR, Total, Mediafax and have signed pre-lease agreements in TEADS, Macromex and Goethe Institut.

"On this market segment, there is a steady demand for companies, institutions, or organizations for whom the image is very important and will not be lost as an identity alongside other brands in large office centers. They are looking for class A office projects with premium but small-sized finishes of up to 10,000 sqm with elegant design and prestigious neighborhoods in well-positioned areas such as Dacia, Aviatorilor, Cotroceni, Dorobanti, Opera Square "says Alexandru Petrescu, Managing Partner at ESOP Consulting l CORFAC International.

Five out of the eight buildings that will come into use this year are located in ultra-central areas (such as Dacia, Opera, Romana, Unirii and Universitate) and three in North-Center (Aviatorilor, Dorobanti and Casa Presei Libere). The surface of the boutique office buildings delivered this year varies between 1,547 sqm and 7,500 sqm. A relevant example of a boutique building is the D'OR Business Center office project, Calea Dorobanti, near the Academy of Economic Studies in Bucharest (ASE), which is inaugurated this quarter.
Other representative buildings for this market segment inaugurated this year or last year are Victoria Stylish Office Building, Bookase, The Hub Office and Park Avenue. The boutique office projects are under construction and are being hired in areas such as Romanian, Opera, University and Unirii.


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