What Office Spaces Rent the IT&C, BPO and Outsourcing Companies

How many companies in the field of technology, IT&C, BPO and outsourcing rent offices and what kind of spaces they choose: with surfaces from 75 sqm to 13,000 sqm

Companies traded more than half of the total office space rented last year (52%) in the fields of IT&C, outsourcing, and BPO, which employ massively during this period. In total, 84 IT&C, outsourcing, and BPO companies made new office rental transactions throughout the country, and almost three-quarters of them (59 companies) chose Bucharest. To these, another 20 companies from IT&C, outsourcing, and BPO have renewed their leases in the existing spaces.

Thus, there is a slight increase compared to last year, when 47% of rental and pre-lease transactions involved such companies.

“The companies in which technology has a say and employs young people, from IT&C, outsourcing, and BPO, are the most active on the office market and continue to expand, both in Bucharest and the other major university centers: Cluj-Napoca, Iasi, Timisoara, and Brasov. In 2016, although involving a smaller number of transactions (25 compared to 59), the cities outside the Capital attracted a total traded area almost equal to the traded area in Bucharest (60,000 sqm compared to 78,000 sqm). This was possible in the context of doubling the average surface traded in such cities (where it was 2,500 sqm), compared to Bucharest (1,300 sqm) “, says Alexandru Petrescu, Managing Partner at ESOP Consulting CORFAC | International.

Across the country, in 2016, 84 companies in the fields of IT&C, outsourcing and BPO rented offices. The surfaces involved are varied, starting from 75 sqm, as much as iData in the Union 2 office building in Bucharest, up to 13,000 sqm, as much as Amazon rented in Iași. Most companies – 54 out of a total of 84 – rented office space under 1,000 square meters.

However, as leased stock, the segment of spaces between 3,000 – 5000 sqm registered the highest trading volume, approx. 46,000 sqm, representing 33% of the total; the rest of the segments had weights between 15% – 18% (chart below).

It is noted that both rental transactions of over 10,000 sqm in new office space, without renewals, were located outside the Capital.

ESOP Consulting mediated 15% of IT&C, BPO and outsourcing transactions

In total, in 2016, ESOP provided consultancy for 11 companies in the fields of IT&C, BPO, and outsourcing. Among the companies that found office spaces through ESOP were Harman, which leased 7,700 square meters of office space, and Adore Me leased an area of 900 square meters, and Asentiel, which also rented an area of about 900 square meters.

In 2017, Tellence expanded its space through ESOP. Negotiations are underway for office transactions that could total over 15,000 sqm, where demand comes from the fields of technology and support.

What office buildings did IT and support teams choose?

In Bucharest, most companies in the fields of IT&C, outsourcing, and BPO have chosen state-of-the-art office buildings, in new projects, under-delivery, or still under construction, such as Afi Park, Green Court, Oregon Park, Metroffice and Orhideea Towers. However, there were tenants in these fields who chose second-generation but very well-positioned office centers (such as Charles de Gaulle, America House, Europe House, Iride Park), which were recently vacated.

Among the projects that attracted the attention of a large number of tenants are Green Court (eight transactions), AFI Park, with phases 4 and 5 (six transactions), Iride Business Park (four deals), Oregon Park (two transactions), Sky Tower (two transactions).

Other quality buildings chosen to house IT&C and outsourcing employees were Metroffice, Orchid Towers, Poland 68, Maria Rosetti Tower, and Globalworth Tower.

In the country, companies in the fields of IT&C and outsourcing have also chosen new office buildings, such as OpenVille, The Office, Palas Iași, Coresi Park, and Liberty Technology Park.

“The office market is considered, to a certain extent, a barometer of economic developments and at the moment it sends us signals that organic growth is foreshadowed, at the level of the big cities of Romania.

In this way, the companies benefit from a higher efficiency of operating costs and attract more talented young people from several university areas. For these young people, there are more opportunities for professional growth and economic benefits, which involve several industries, such as apartment construction, private health services, education. We are not talking about a trend of several years, but about a medium and long term direction “, considers the ESOP manager, Alexandru Petrescu.