Honeywell Romania rents 3,000 sqm offices in Upground compound in Bucharest

Electronic equipment and systems provider Honeywell has rented 3,000 sqm in the Upground office complex located in Pipera, Bucharest, through Jones Lang LaSalle, according to the company. This is part the company's expansion strategy, as Honeywell already has offices in the area. According to Honeywell's website, its headquarters are in Floreasca Business Park, while another location listed is Iuliu Maniu Blvd East of Bucharest.

Honeywell owns a factory in Bucharest and one in Lugoj. In 2009, the company posted a turnover of EUR 70 million in Romania, where it employed 1,300 people. Upground is a real estate project located in Bucharest at the intersection of Barbu Vacarescu and Fabrica de Glucoza streets and Soseaua Petricani. The project consists of four buildings, two residential ones and two office buildings, with a total floor area of 226,000 sqm. In May 2008 the project was bought by RREEF Real Estate, the real estate branch of Deutsche Bank for EUR 340 million. Jones Lang LaSalle signed another 4 lease contracts over the summer, apart from the Honeywell one. The company relocated Accace and Lenovo in the Avantgarde building in the capital city, signing a lease contract of 5 years, Diaverum company opened an office in Olimpya tower, while British Petroleum renegotiated a lease contract for an additional five years in the current headquarters of the III Business Forum, according to the company. Irina Popescu, irina.popescu@romania-insider.com (photo source: Griro)