15 November, 2011
Real estate consultancy firms DTZ Echinox and Jones Lang LaSalle, two of the leading market players have been appointed co-exclusive leasing agents of the commercial centre, Cocor Store, Bucharest. With the signing of the contract, the two real estate firms represent Cocor S.A. in relation to brands interested in leasing spaces within the Cocor Store.
Mirela Mihailescu, Commercial Director of Cocor S.A. said: “In order to develop new projects that would meet the needs of the buyers, we chose to work with two of the most prestigious real estate companies. The two will provide consultancy and personalised expertise for the creation of an optimal mix of retailers and services, so that Cocor can become one of the most attractive commercial centres in Bucharest.”
The collaboration between Cocor Store and the two real estate consultancy firms aims to create an appealing concept, oriented towards the clients demands, through the diversification of the retailers’ mix, the introduction of new brands and the creation of an entertainment area.
Oana Iliescu, Managing Director DTZ Echinox, comments: “We are happy and extremely motivated by this instruction. Cocor Store has a long-standing tradition in the history of Bucharest and it enjoys a great location with easy access and visibility. With the right tenant mix, a variety of services, entertainment facilities and a marketing strategy tailor-made to meet the values and expectations of its target market, the centre can easily become a landmark for premium shopping in Romania.”
Carmen Ravon, Senior Consultant Jones Lang LaSalle, added: “Working for Cocor Store is a very interesting challenge, as the centre represents a landmark building in Bucharest, with a vast history behind it and a landmark shopping destination for people across the country. Our aim is to bring this location to the top of buyers’ preferences. Cocor benefits from an excellent location, private parking area and a spectacular media facade which presents an innovative marketing tool for all the retailers. Moreover, Cocor Store is located in proximity of the Old Centre of Bucharest, enjoying high levels of traffic with great visibility for target buyers, both Romanian and foreigners who visit the city and can go shopping within less than five minutes distance from restaurants, coffee shops or bars, favourite destinations for fun in Bucharest.”
DTZ Echinox is the local representative of DTZ, one of the leading international real estate firms present in over 43 countries. In 2010, DTZ Echinox reported a € 2.8 mil turnover. Throughout 2010, the retail team mediated the lease of more than 30,000 sq m of retail space in Bucharest and across the country.
The real estate consultant Jones Lang LaSalle reported incomes of approx €2 bln on the global level and €1.8 mil on local level in 2010. The company is active in 60 countries.
Following an investment of € 24.5 mil, Cocor Store reopened in October 2010, with a 10,000 sq m retail surface and 200 parking units. The centre is home for local and international brands, as well as to the most prestigious local designers. Cocor Media Channel, the largest media facade on continental Europe, was launched in December 2008, following an investment of € 2.6 mil.