Cushman & Wakefield Echinox takes over property management services for…

The real estate consulting company Cushman & Wakefield Echinox has been appointed to manage the Expo Business Park office complex, one of the emblematic projects in the Bucharest Exhibition area, starting in January 2024.

The project is part of the portfolio of CPI Romania, one of the biggest players on the local real estate market, it was completed in 2019 and is certified BREEAM Outstanding.

“The Expo Business Park building is the most impressive property in the CPI Romania portfolio, with a 100% occupancy rate,” says Fulga Dinu, Country Manager, CPI Romania.

Cushman & Wakefield Echinox will have duties in the management of the day-to-day administrative-operational activity within the project, the management of the relationship with the tenants, financial and reporting operations, the implementation of the community management programs dedicated to the tenants. At the same time, the services provided also include the management of the relationship with subcontractors and the authorities, constantly considering compliance with legal requirements and the creation of opportunities and efficiency solutions in line with ESG standards through a team of specialists both on-site and at the headquarters .

“At a time when the office market is in full repositioning process, managing buildings in a proactive way that quickly and efficiently addresses the demands and needs of tenants, is a differentiating element for owners”, adds Mihaela Petruescu, Partner Asset Services, Cushman & Wakefield Echinox.

The portfolio of real estate assets managed by the Asset Services department of Cushman & Wakefield Echinox reaches about 500,000 square meters, with a market value of 550 million euros. The managed projects accommodate 230 tenants, and the managed operating expenses budget amounts to 9.65 million euros.

Expo Business Park is one of the largest class A office projects developed in Bucharest, located on Aviator Popişteanu Street, in the Expoziţiei area, 450 meters from the 1 Mai metro station, with a leasable area of ​​40,950 square meters in three buildings.

The project’s tenants include ING Bank, MagnaPharm Marketing & Sales, Deutsche Leasing, Mars, Omega Pharma, Regus/Spaces, Royal Canin and World Class.