Sofia Airport Center Office Building to Open in Sept 2012

The main office building of the business park Sofia Airport Center will be opened first week of September, the Bulgarian office of Tishman International announced Monday.

The Class A offices will have overall space of 17 500 sq.meters built up area and is using the latest technologies and high international standards in construction, safety, comfort and environment.

In a further announcement by the company on Monday, Tishman Bulgarian Real Property, GmbH, a member ofTishman International Companies, a leading international commercial real estate development and management company, has acquired GE Real Estate's share in the mixed-use Sofia Airport Center (SAC) located in Sofia, Bulgaria, which was a joint development of the two companies.

Under a new strategy, GE Real Estate is going back to its roots as a major real estate lender in the US with a view to expanding those activities to Europe.

"GE Real Estate is repositioning its owned commercial real estate portfolio to allow the company to focus on its root strengths," said Frank Roseen, GE Managing Director, Central and Eastern Europe. "We are divesting certain assets to enlarge our focus on markets such as the UK and Asia, and we will increase the assets that we manage for third parties," he added.

Tishman has pioneered technological innovation at SAC, and attracted a roster of prestigious international tenants, including Honeywell EOOD, the Bulgarian arm of the leading multinational corporation Honeywell; Colgate-Palmolive Adria D.O.O., a global leader in cleaning products; and the global logistics firm Logwin (Logwin Solutions Bulgaria EOOD) to the Sofia Airport Center's modern office, logistics and warehouse space in its Logistics Center, conveniently located adjacent to Sofia International Airport.

"We have had a long and successful relationship with GE in the U.S. and are proud that they were a partner with us in SAC, our international business park," said Chairman of Tishman International Alan D. Levy.

Tishman International is known for innovation, and the company's work in Bulgaria has been a model for the country's ongoing modernization and economic expansion. "We take pride in the accomplishments we have achieved to date in Europe and in the United States. Following our consistent strategy of investing in Eastern Europe, Tishman will continue to advance along the same successful model, adding value as we continue to develop SAC," he added.

The company's achievements in Sofia include the design and construction of the Sofia Airport Center to modern western standards of sustainability, earning recognition as the first LEED-certified commercial office building in Bulgaria.

The logistics center, comprised of three office and logistics warehouse buildings of approximately 28 000 sq. m., is nearly 100% leased and was recently honored as the Best Industrial Buildings and Logistic Centers in the Building of the Year National Contest, says Julian R. Edwards, Tishman's Managing Director of Europe.

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Sofia Airport Center Office Building to Open in Sept 2012