Petrom rents office space

Petrom, the biggest Romanian company, which is also part of the portfolio of the Austrian petroleum group OMW, announced on Tuesday that it had rented 7,000 square metres in the Bucharest Corporate Center building, close to the Piata Victoriei area in the Capital. The transaction between Petrom and Immoeast (a division of Immofinanz) is one of the most important transactions on the Capital”s real estate market since the beginning of the year. The value of the lease could reach 7.5 million euros, given that lease contracts usually have a five-year validity period on the real estate market, and that prices for class A offices start from 18 euros per square metre. Immoeast last year acquired the class A building from a group of Greek and Turkish investors following a transaction worth around 25 million euros. Petrom will occupy 8 out of the 14 levels of the building belonging to the Austrian company Immoeast. The transaction was brokered by the real estate company CB Richard Ellis in cooperation with AIV Administrare de Cladiri SRL, a subsidiary of Generali Vienna. ZF