Developer Tishman International Companies, a leading international commercial real estate development and management company, and GE Real Estate Central & Eastern Europe, have announced that Honeywell EOOD, the Bulgarian arm of the leading multinational corporation Honeywell, has signed a 64-month lease for 3,000 m² of office and warehouse space in the Logistics Center of the new Sofia Airport Center (SAC), located at 64, Christopher Columbus Boulevard in Sofia, Bulgaria.
The high-profile SAC, a flexible mixed-use office, hospitality and logistics project currently being developed, is the largest and most successful development of its type in Bulgaria, developed and managed according to Western European and U.S. standards. SAC's energy-efficient and environmentally friendly Logistics Center is fully equipped to meet and exceed the high expectations of multinational tenants, including Fortune 500 companies such as Honeywell.
Honeywell is a $27 billion American company and a leader in diversified technology and manufacturing that serves customers ranging from private consumers to major corporations worldwide. Traded on the New York Stock Exchange under the symbol HON, as well as on the London, Chicago and Pacific stock exchanges, Honeywell owns many familiar product brands. The company provides aerospace and defense products and services; thermostats and control technologies for buildings, homes and industry; specialty chemicals; fibers; plastics and electronic and advanced materials. Today, the company employs approximately 125,000 people in more than 100 countries.
The Logistics Center offers flexible space that is suitable for a variety of purposes. "Sofia Airport Center's tenant-focused flexibility, with its mix of office, industrial and logistics space, is ideal for accommodating the various needs of Honeywell's Bulgarian operation," said Tishman Chairman Alan D. Levy. "Honeywell EOOD's assembly of electronic control cabinets is conveniently located in the same leased premises," he added.
The prestigious SAC project will further enhance the image of the Bulgarian capital as an international business center and a vital regional link for the European economy.
Construction of the three SAC Logistics Center buildings is nearly complete, and warehouse space in the first two finished buildings is already fully leased. Adjacent to the Logistics Center, in the SAC Office Center, Tishman is constructing a Class A, 17,500-m² five-story office building, slated for completion at the end of 2009.
The SAC Office Center building is Bulgaria's first LEED-certified commercial building, and is expected to achieve LEED "silver" status. (The U.S. Embassy in Sofia is also LEED-certified.) Local authorities will confer special recognition on the energy-efficient and environmentally friendly Logistics Center.
Honeywell was drawn not only by SAC's convenient location and superior quality construction, but also by the comprehensive services, such as 24-hour security, landscaping and engineering services provided by Tishman's on-site property management. Offering clear advantages over other Sofia projects, the sophisticated facility's proximity to Sofia International Airport, just three minutes away, as well as to major transportation arteries, is a crucial asset to SAC tenants.
Forton International represented Tishman in the lease transaction, and Jones Lang LaSalle represented Honeywell EOOD.