Real estate consultants believe that "before things get better,they'll get worse" on the office market of Pipera-Tunari area,which cannot be reached by underground and where car traffic isdifficult, while passengers do not even have a sidewalk leading tothe underground station of Dimitrie Pompei Boulevard. Majorcompanies such as Coca-Cola, Ford (Global City), Vodafone (NorthCenter) or Metro (Twin Towers Barba Center) have rented offices inthe area and they are forced to make microbuses available for theiremployees to more easily reach the office. Even so, offices of tensof thousand square metres are vacant, and another large project,Swan Office Park, is due for completion by yearend. "From talkswith tenants, the office market of Pipera is little likely to pickup. Many companies want to leave the area because ofinfrastructure. There are a series of pharmaceutical or servicestenants in Pipera whose profile does not match the area, but theyentered the market when downtown offices had very few spacesavailable and they had to rent in Pipera. They're now seekingbuildings closer to the downtown area," says M`d`lina Cojocaru,head of office department with DTZ Echinox real estateconsultancy.
Pipera retains the low-cost advantage, with rents negotiated at8 to 10 euros/square metre per month. However, " (...) There arecompanies willing to pay 30% more to move closer to the downtownarea," the consultant added.
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