Griffes Achieves Record 85000 sqm Office Transactions in 2024

Griffes reports an exceptional year in 2024, closing a record-breaking 85,000 sqm of office space, the largest volume of transactions mediated in 2024.

Griffes’ activity outside Bucharest accounted for 25% of its total transaction volume, with Cluj-Napoca leading the way. This city continued to attract investments, particularly from technology and IT companies looking to tap into its skilled talent pools and favorable business environments.

In Cluj-Napoca, Griffes facilitated the largest new office lease in the city over the past 5 years, a 10,000 sqm relocation for a leading technology company. Griffes also supported the entry of Copeland into the market, securing premium office space for their operations within Iulius Group’s portfolio.

Bucharest continued to dominate as Romania’s primary business hub, accounting for approximately 75% of Griffes’ total transaction volume in 2024. One of the most notable transactions was Genpact’s renewal of 30,000 sqm at Hermes Business Park, marking the largest office leasing deal in Bucharest in the last decade.

Approximately 36% of Griffes’ transactions involved relocations, while 64% represented contract renewals.

The total value of contracts mediated by Griffes in 2024 exceeded EUR 95 million, with an average lease duration of 6 years. Griffes’ efforts created an estimated EUR 200 million in value for landlords, ensuring long-term stability for tenants and income generation for landlords.

"This year, we’ve embraced every challenge and opportunity to redefine what it means to create value for tenants and landlords. Our work has gone beyond transactions - it’s been about shaping spaces that align with the visions of our clients. Whether through a record-setting renewal in Bucharest or a landmark lease in Cluj-Napoca, we’ve shown that personalized solutions and a deep understanding of market dynamics make all the difference. Regional university centers are stepping confidently onto the stage as major business hubs, and we’re thrilled to be part of their evolution,” said Andreea Păun, Managing Partner at Griffes.