19.04.2016 - Sofia, Expo Phase IV


Ericsson Telecommunications Bulgaria to lease 1,800 sqm, taking the entire second floor of the new building, with an option to expand up to 2,500 sqm GLA.  Phase IV is scheduled for completion in July 2017 - the first tenants are expected to move in in September 2017. The transaction confirms the growing trend on Sofia’s office market for early pre-lets, as vacancy levels have shrunk significantly in the past 2 years and the pipeline of new projects is rather thin.

The relocation to Phase IV is triggered by expansion needs, but also by Ericsson’s commitment to being an environmentally responsible company - Phase IV is targeting LEED platinum certification. A growing number of leading corporations have made ‘green policies’ part of their corporate culture and seek to lead their industries by example. In terms of real estate needs this translates into consistently shortlisting real estate premises with international ‘green’ certification.