Sofia Airport Center Office Building to Open in Sept 2012

Business » PROPERTIES | March 19, 2012, Monday // 15:03| Views: | Comments: 0
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Bulgaria: Sofia Airport Center Office Building to Open in Sept 2012 The Class A main office building at the Sofia Airport Center is to be opened in September 2012. Photo by sac.bg

The main office building of the business park Sofia Airport Center will be opened first week of September, the Bulgarian office of Tishman International announced Monday.

The Class A offices will have overall space of 17 500 sq.meters built up area and is using the latest technologies and high international standards in construction, safety, comfort and environment.

In a further announcement by the company on Monday, Tishman Bulgarian Real Property, GmbH, a member of Tishman International Companies, a leading international commercial real estate development and management company, has acquired GE Real Estate's share in the mixed-use Sofia Airport Center (SAC) located in Sofia, Bulgaria, which was a joint development of the two companies.

Under a new strategy, GE Real Estate is going back to its roots as a major real estate lender in the US with a view to expanding those activities to Europe.

"GE Real Estate is repositioning its owned commercial real estate portfolio to allow the company to focus on its root strengths," said Frank Roseen, GE Managing Director, Central and Eastern Europe. "We are divesting certain assets to enlarge our focus on markets such as the UK and Asia, and we will increase the assets that we manage for third parties," he added.

Tishman has pioneered technological innovation at SAC, and attracted a roster of prestigious international tenants, including Honeywell EOOD, the Bulgarian arm of the leading multinational corporation Honeywell; Colgate-Palmolive Adria D.O.O., a global leader in cleaning products; and the global logistics firm Logwin (Logwin Solutions Bulgaria EOOD) to the Sofia Airport Center's modern office, logistics and warehouse space in its Logistics Center, conveniently located adjacent to Sofia International Airport.

"We have had a long and successful relationship with GE in the U.S. and are proud that they were a partner with us in SAC, our international business park," said Chairman of Tishman International Alan D. Levy.

Tishman International is known for innovation, and the company's work in Bulgaria has been a model for the country's ongoing modernization and economic expansion. "We take pride in the accomplishments we have achieved to date in Europe and in the United States. Following our consistent strategy of investing in Eastern Europe, Tishman will continue to advance along the same successful model, adding value as we continue to develop SAC," he added.

The company's achievements in Sofia include the design and construction of the Sofia Airport Center to modern western standards of sustainability, earning recognition as the first LEED-certified commercial office building in Bulgaria.

The logistics center, comprised of three office and logistics warehouse buildings of approximately 28 000 sq. m., is nearly 100% leased and was recently honored as the Best Industrial Buildings and Logistic Centers in the Building of the Year National Contest, says Julian R. Edwards, Tishman's Managing Director of Europe.

SAC's central plaza is designed around a clear water lake. This area, with modulated terrain with large sunny irrigated lawns and clusters of trees and flowers, provides a pleasant natural relaxation spot for tenants and visitors. When completed, Sofia Airport Center will be a mixed-use project containing nearly 170 000 sq. m. of logistics office and logistics warehouse space including Class A offices with underground parking in the office park portion, points out Olga Stoichkova, SAC's Leasing Manager.

Tishman International co-sponsors a number of international real estate conferences, where its executives promote green design and sustainable architecture, one of the company's core values. Tishman's international investments include properties in the UK, Czech Republic, Slovakia and Romania, as well as the U.S.

Tishman International Companies is currently active in the United States, United Kingdom and Central & Eastern Europe including Bulgaria, Hungary, Czech Republic, Slovakia and Romania. The firm specializes, in the acquisition, development, management and financing of commercial real estate. Tishman has been a consultant and joint venture partner to some of the world's leading institutions and private investors and has recently been appointed by a UK Fund to provide asset and development management services for a portfolio of 12 properties located in Romania, Hungary, and Slovakia.

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Tags: Sofia Airport Center, Tishman International, Tishman, Tishman International Companies, Tishman Group, Tishman International Ltd., GE Real Estate, office buildings, office space, Alan Levy
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