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September 28, 2021
BUSINESS BUSINESS COMPANIES ECONOMY Real Estate

Portland Trust announces new tenants in J8 Office Park, project scheduled for completion in the summer of 2021

The real estate developer Portland Trust announces the leasing of an area of ​​2,500 square meters, located in building A of the J8 Office Park project, to Euroins Romania, one of the leaders of the local insurance market. Portland Trust is preparing to complete the construction works for J8 Office Park office complex, this month.

The project is located in the immediate vicinity of the Jiu subway station, in the New Bucharest neighborhood of the Capital. About 55% of the 44,000 square meters of building A have been pre-leased to Ubisoft Bucharest, the developer of well-known video games, including Assasin’s Creed, which will have its regional headquarters here.

Euroins thus becomes the newest tenant of J8 Office Park, occupying almost the entire second floor of Building A. Portland Trust representatives see this transaction as a signal of renewed tenant interest in new, healthy office space and according to ESG norms (Environmental, Social, and Governance), which respect the environmental, social and corporate governance factors.

Most of the ground floor of building A has already been rented to several retail service providers, which include: a new Mega Image supermarket concept that will occupy 500 sq m, the first store located in Bucharest of the award-winning network Coffee Island, a Stradale restaurant that will cover an area of ​​600 sq m, as well as a store of the artisanal bakery chain, Plain Plaisir.

Bismobil Kitchen, a custom kitchen manufacturer, will also open a showroom with an area of ​​290 sq m, located in the immediate vicinity of the veterinary office Mobile Vet, which will offer both medical services and pet products, sold in a 140 sq m store. Also on the ground floor of building A, an Xpress unit will be placed in the reception area, where it will be possible to purchase convenience products, press, and food and drinks “to go”.

Among the tenants of building A there are several important names in the medical and sports field, including World Class Romania, the market leader in the fitness industry, which will occupy an area of ​​1,400 sq m, on the ground floor and first floor. Medicover will offer medical services in a 235 sq m unit, and the Medy Sportline clinic, which will occupy 330 sqm, will offer physiotherapy, physiotherapy and body massage services.

J8 Office Park complex will provide its tenants and their employees with a parking area for 200 bicycles, which will be accessible on the basis of access cards, with locker rooms that are easy to reach directly from the square located in front of the complex. The outdoor area consists of a very generous green space with benches, numerous plants and planters. Towards the end of September, the inauguration of a piece of art by the British sculptor Colin Spoforth is scheduled. According to representatives of the Portland Trust, all these aspects will make a significant contribution to improving the life of the local community, where the J8 Office Park complex is expected to become a point of attraction in the coming months.

Robert Neale, Managing Director of Portland Trust: “Both Portland Trust and Ares Management have always had the capacity and know-how to find the right formula to make energy efficient buildings and to adopt new technologies to reduce the amount of fossil fuel used in our buildings. The J8 project has reached a new level of performance, in terms of ESG norms, with very good air quality and hygiene standards close to the requirements of medical standards. In the spring of 2020, we redesigned the MEP specifications, that target mechanical, electrical and sanitary engineering standards, so that we can now meet the highest and most demanding corporate requirements. Thus, we are ready to offer the best conditions on the local market in terms of work environment. In the near future, some multinational companies will have to move their offices to other spaces due to the low quality of office space available on the market, and we are ready to host them! ”

J8 Office Park is Portland Trust’s eighth major office project and is designed to meet the BREEAM “Outstanding” certification, the highest level of BREEAM certification. J8 Office Park will also be WELL Health Safety certified, the project presenting unprecedented health guarantees on the local market, including air cleaning through HEPA 14 filters and UV-C disinfection technologies.

 

About Portland Trust

 

Portland Trust is a commercial property developer and investor active in Central and South Eastern Europe for over 20 years. J8 Office Park (www.j8officepark.ro) is a joint venture with ARES Management Corporation, a global alternative asset manager and SEC (Securities and Exchange Commission) registered investment adviser with approximately $145 billion of committed capital under management and more than 900 employees. Together Portland and ARES have developed over 800,000 sq m including 7 office buildings and parks in Bucharest and have won many awards for design and sustainability.

 

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