Communication - PresseMembres

Magazinul Bucuresti, located in the center of the Capital, will be delivered by end-2019

-- Colliers was assigned as exclusive agent for the leasing of the project --

Bucharest, 27th of August 2019: The reconstruction of Magazinului Bucuresti, the former universal shop located at the crossroads of Lipscani Street and I.C. Bratianu Boulevard, will be finalized by the end of this year. The new building will accommodate diverse concepts, from retail and services spaces to office, co-working or dining spaces. The real estate consultancy company Colliers International Romania was assigned as exclusive agent for the leasing of the project.

The future Magazinul Bucuresti will have a gross leasable area of around 3,150 sqm, 6 floors (6+GF) and will benefit from over 2,600 parking spaces in the vicinity, in Universitate, Intercontinental, Cocor and Unirii areas. The building is designed to accommodate a variety of tenants, from the retail and services segments, offices, co-working and restaurants. As a result, Magazinul Bucuresti could become the most important mixed-use project in the center of the Capital.

With a fascinating history, Magazinul Bucuresti will always be considered a landmark for the Capital’s real estate market. Therefore, the reconsolidation of the building comes at the right time. The city needs special buildings and historical monuments to be restored, and I am glad that such a project will be available for potential clients that are looking for space located in the most central part of Bucharest, but adapted to current standards”, Venera Maria Munjev, Senior Associate Retail Agency at Colliers, said.

Due to its central location (at the entrance on Lipscani Street), the project benefits from both maximum visibility from the I.C. Bratianu Boulevard and excellent connectivity to major public means of transportation (metro – Piata Unirii and Universitate stations, bus, tram). The pedestrian traffic is boosted by the proximity to the Old Town (the number of tourists here exceeds 2 million annually), to the University of Bucharest – around 25,000 students can be found in the area annually –, and to the Piata Unirii (1 and 2) and Universitate metro stations, that have registered in 2018 around 13.3 and 6.5 million trips respectively.

Magazinul Bucuresti is one of the most important historical monuments in the Capital. Build in two phases, the center dates back from the interwar period (1929-1939). Moreover, it used to be one of the most accessed shopping centers in the city. Nowadays, the building is going through a process of complete reconstruction and only the facade will keep the original aspect, as the rest of the building will be adapted to a class A project.

About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at Colliers.com or follow us on Facebook, LinkedIn, Instagram and Twitter(@Colliers_EMEA).

For further information, please contact:

 

Adina Harabagiu

Email : adina.harabagiu(@)colliers.com  

Phone : +40 752 845 634

 

 

 

 

 

 

 

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