INTERNATIONAL: Skanska Sells Green Office Property in Bucharest
- Nov 28, 2014
By Balazs Szekely, Associate Editor
Green Court Bucharest A will soon change hands. The first building of the approximately 560,000 square-foot, three-building office park is currently under Skanska Property Romania’s ownership and will be transferred to Globalworth Real Estate Investments LTD foreseeably in the second quarter of 2015. The sale will be recorded by Skanska Commercial Development Europe in the fourth quarter of the current year.
Green Court Bucharest is the first Skanska office development project in Romania. Located in the Floreasca – Barbu Vacarescu area the Class-A office is just a five minutes from the nearest subway station. The project is LEED Gold pre-certified and designed with a number of implemented green solutions such as energy efficient façade which reduces the solar heat gains, enhanced fresh air flow rate for a healthier working environment, energy efficient lighting systems equipped with motion and intensity sensors, charging stations for electrical cars, parking and facilities for cyclists (lockers and showers).
The first phase involved in the transaction offers nearly 21,000 square feet of total leasable space and 280 parking spaces. It is already 91 percent leased out to tenants like Orange Romania and Schneider Electric Romania. The property will be delivered fully leased upon closing.
Headquartered in Stockholm, Skanska is a Fortune 500 group focused on construction, development of commercial properties, residential projects and public-private partnerships. The Romanian development arm started its operation in Bucharest in 2011 within Skanska Commercial Development Europe. Globalworth Real Estate Investments Ltd. is an AIM listed real estate company investing in the South Eastern Europe and Central and Eastern Europe markets, with a primary focus on properties located in Romania. Its portfolio currently comprises an Asset Manager platform and eight real estate investments all in Bucharest.