Mercedes Benz Romania leases 3 floors in Bucharest Swan offices soon after owners announce insolvency

Car importer Mercedes-Benz Romania recently leased three floors in the Swan Office & Technology Park, the office compound which recently entered receivership. Mercedes chose to lease 3,000 sqm in the Henley building within the compound, and occupy the 3rd, 4th and 5th floors. The lease was brokered by consultancy firm Jones Lang LaSalle.

Four companies relocated to Swan in the last quarter of 2012, raising the occupancy rate to 35 percent. Three of them were Bilfinger Berger, Tebodin and Tecnoservice, and the fourth transaction was the relocation of the ING Pipera branch to the ground floor of the Swan building. The building owners, the investment fund Chayton Capital, hope to have an occupancy rate of over 50 percent by the end of 2013. Swan Property, the real estate firm that owns the Swan Office building in Bucharest's Pipera area, recently entered insolvency. Casa de Insolvenţă Transilvania (CITR) was named as the receiver. Swan Office & Technology Park was opened by Swan Property with investment from Chayton Capital LLP London in 2011. The development has nearly 30,000 sqm gross leasable area and tenants include eMag and Flanco. There are more potential tenants currently interested in taking office space in the complex, according to the receivers CITR. editor@romania-insider.com