03. Februar 2012 
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Record transaction for the office market outside Bucharest
Jones Lang LaSalle has acted as the exclusive advisor on behalf of the vendors, Ovidiu Sandor and his business partners, for the disposal of the office park City Business Centre in Timisoara, Romania, to the South-African investment fund New Europe Property Investments (NEPI). Due to its volume and location (outside Bucharest), the transaction represents a record for the Romanian investment market: no other business centre of such volume has ever been transacted on the office market in other major cities except Bucharest.
The three existing buildings of 25,000 sq m lettable area are almost fully leased to large international tenants such as IBM, PricewaterhouseCoopers, Vodafone, Alcatel-Lucent, Wipro Technologies, BCR, Deloitte and Microsoft. The next phases (the fourth and fifth building) are due to delivery in 2012 and 2013, both buildings already benefiting from solid and increasing occupier interest. Upon final completion, CBC will span over 43,000 sqm (Gross Leasable Area).
Troy Javaher , Managing Director for Jones Lang LaSalle in Romania, states: „Despite the challenging economic environment, the indisputable success of this award-winning office complex, has attracted several offers from major international players in the last 3-4 years. As the first major institutional office transaction outside Bucharest, CBC is of particular importance to this evolving market, as it demonstrates the continued existence of investor demand for regional projects provided that they are truly prime and dominant.“
Ovidiu Sandor, the main shareholder of the vendor, also comments: „Jones Lang LaSalle's contribution was instrumental in this commercially complex transaction, and they have been involved in this project since the early stages. Initially, we set out to prove that it is very possible to deliver an affordable yet truly prime and modern office complex which will not only encourage top national and multinational tenants to relocate, but also raise the profile of promising regional cities such as Timisoara. We are very proud to have contributed in our way to this process of putting Timisoara on the outsourcing/nearshoring map, and we look forward to continuing to play a positive role in contributing to the development of the Western Region and the community at large.“
The three existing buildings of 25,000 sq m lettable area are almost fully leased to large international tenants such as IBM, PricewaterhouseCoopers, Vodafone, Alcatel-Lucent, Wipro Technologies, BCR, Deloitte and Microsoft. The next phases (the fourth and fifth building) are due to delivery in 2012 and 2013, both buildings already benefiting from solid and increasing occupier interest. Upon final completion, CBC will span over 43,000 sqm (Gross Leasable Area).
Troy Javaher , Managing Director for Jones Lang LaSalle in Romania, states: „Despite the challenging economic environment, the indisputable success of this award-winning office complex, has attracted several offers from major international players in the last 3-4 years. As the first major institutional office transaction outside Bucharest, CBC is of particular importance to this evolving market, as it demonstrates the continued existence of investor demand for regional projects provided that they are truly prime and dominant.“
Ovidiu Sandor, the main shareholder of the vendor, also comments: „Jones Lang LaSalle's contribution was instrumental in this commercially complex transaction, and they have been involved in this project since the early stages. Initially, we set out to prove that it is very possible to deliver an affordable yet truly prime and modern office complex which will not only encourage top national and multinational tenants to relocate, but also raise the profile of promising regional cities such as Timisoara. We are very proud to have contributed in our way to this process of putting Timisoara on the outsourcing/nearshoring map, and we look forward to continuing to play a positive role in contributing to the development of the Western Region and the community at large.“
