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CBRE managed transactions of 22,000 sqm for Regus and Spaces in Romania in the past years

Real estate consultancy company CBRE announced it completed rental transactions for approximately 22,000 sqm of coworking workspaces for the Regus and Spaces brands since 2015.

2018-12-17 19:53:15

The volume includes closed agreements for new centers that have been or will be inaugurated, as well as contract renegotiations. CBRE and IWG (International Workspace Group) have so far carried out eleven new space rental and renegotiation projects. Regus and Spaces are labels of flexible workspaces designed to increase the productivity and creativity of companies and start-ups. The brands are owned by IWG, a multinational corporation headquartered in Luxembourg, whose portfolio also includes Basepoint, No.18, Signature and Open Office. IWG entered the local market in 1999 with the Regus brand, and in 2018 it launched the Spaces brand in Romania. Regus is the pioneer of the coworking market in Romania, a segment that registers accelerated growth in the past years.

"Our partnership with IWG, originally for the Regus concept and, since 2018, for Spaces, lasts for three years and becomes stronger with the passage of time. Collaboration with one of the largest providers of flexible working spaces makes us extremely proud. It is a success not only for the CBRE portfolio, but also for the local market, which has managed to attract such an important player from a niche that has a growing share in the office space market, "said Victor Ripped, Business Development Executive of CBRE Romania.

Currently, CBRE has ongoing transactions for Regus and Spaces considering office spaces of cumulated amount ranging between 10.000 sqm and 15.000 sqm. The ongoing transactions will be finalized within a timeline of six to 9 months due.

"Coworking spaces are the offices of the future. Young people want to work in unconventional spaces, and companies with high quality labor are willing to meet this requirement. The concepts of Regus and Spaces are based on a solid investment and extremely complex know-how. They are interested in large spaces, and the development costs are around 800 euro / sqm. We are convinced that together with CBRE, the IWG will be extended to all major office projects in the country and we consider this collaboration as an important success for the Romanian market. The entry into the local market of a company with the experience and results of the IWG is an asset, especially since in about 10 years, according to our estimates, no developer will build an office building without including a flexible working space, concluded Ramona Predescu, Country Manager IWG.


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