LEASING | LOGISTICS & INDUSTRIAL
Orbico Bulgaria Sofia
Space: 156 424 sq. m.
Location: Sofia
Orbico Bulgaira appointed Cushman & Wakefiled Forton as a consultant in their endeavour to obtain a lease for a new central logistic hub and headquarters on a built-to-suit basis. Orbico, a leading distributor of global quality brands ranging from beauty care products to food and electronics is also known as one of the most prominent logistics and distribution suppliers on the market. Forton assisted Orbico by providing an inclusive tenant representation within the process of shortlisting sites and developers, negotiating, securing and closing the lease terms of the built-to-suit project.
CHALLENGES
Orbico had a very comprehensive set of requirements which made the selection of a development structure for their future premises challenging. The scope of requirements for this project was unparalleled on the Bulgarian industrial market at that time with no equivalent projects on the industry to compare with. That said, deciding to either implement a developer/owner approach or appoint a developer on a built-to-lease project was extremely difficult without the appropriate guidance of an experienced real estate professional in the face of Forton.
RESULTS:
Thanks to Forton’s tenant representation, Oribico successfully shortlisted and appointed a well-established and trusted developer on the CEE market to implement a built-to-suit project with a long lease back option. The site constitutes of a land plot with a total area of 56 424 sqm, located on a prime location in the vicinity of Chelopeshko Shose str., with close access to Sofia’s ring road. Within the land plot, a logistics hub of 31,200 sqm floor area was built along with 4,000 sqm of office/administrative space. This successfully implemented project has helped Forton and Orbico’s establish a long-term partnership.
