Colliers, exclusive agent for the leasing of Bucharest’s most iconic building - Magazinul Bucuresti

Businesses will make history here

In Bucharest’s Roma Square, on the former Baratiei street no. 2 – now I.C.Bratianu Boulevard, no. 36 –, Magazinul Universal Bucuresti is being rebuilt from the ground up. This building is not just famous; it’s a true landmark in Romania’s Capital, with a rich history and tradition going back decades.

How history was made

The story begins with the ambition of Bucur Bunescu to overcome his condition. Born close to the end of the 19th century and an orphan at the age of just 12, he came to Bucharest to work as a shop boy for a textile trader, Nicolae Popp. Bucur was young and only had four grades’ education, but he was confident and perseverant, hardworking and caring. In a short time, Popp made him associate, the trading company Popp&Bunescu was founded and profits were not late to appear. 

As the company was thriving, the two associates set up for the construction of Magazinul Bucuresti. Built during the interwar period, starting with 1929 and up to 1939, the store became one of the greatest commercial centers of the city. Almost anything was sold here: clothing and accessories, musical instruments, toys or home appliances.

During the communist regime, the Bunescu family was deprived of all assets and the Romanian state took over the management of the center. After 1989, with the advent of modern shopping centers, the Romanian state was no longer involved in the modernization of the project and, in 2010, the building was returned to the heirs of the Bunescu family, who later sold it in 2013.

How history lives on

This year, Magazinul Bucuresti has another chance to shine bight, as its reconstruction will be finalized by the end of 2019. The future Magazinul Bucuresti will have a gross leasable area of around 3,150 sqm, 6 floors (6+GF) and will benefit from over 2,600 parking spaces in the vicinity, in Universitate, Intercontinental, Cocor and Unirii areas. 

The new building can accommodate diverse concepts, from retail and services spaces to office, co-working or dining spaces. As a result, Magazinul Bucuresti could become the most important mixed-use project in the center of the Capital. 

Colliers was assigned as exclusive agent for the leasing of the project and the team will make sure that businesses that choose to come here will have their own chance to make history and become landmarks themselves.

Due to the building’s central location (at the entrance on Lipscani Street), any business can benefit from both maximum visibility from the I.C. Bratianu Boulevard and the excellent connectivity to major public means of transportation (metro – Piata Unirii and Universitate stations, bus, tram). The pedestrian traffic is boosted by the proximity to the Old Town (the number of tourists here exceeds 2 million annually), to the University of Bucharest – around 25,000 students can be found in the area annually –, and to the Piata Unirii (1 and 2) and Universitate metro stations, that have registered in 2018 around 13.3 and 6.5 million trips respectively. 

Yet the greatest advantage of bringing a business in Magazinul Bucuresti is being part of the story, tradition and success. Magazinul Bucuresti was an ambitious and visionary project when it was first built and it is fascinating to see how even now, at its reconstruction, it still keeps this aura. This building will always be an icon for Bucharest, inspiring constant growth and evolution.

 

Related Experts
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Venera Munjev

Senior Associate

Bucharest

I joined Colliers International in 2017 within the Retail Division.
Before joining Colliers, I accumulated over 8 years' experience in management and consultancy services in the digital cinema industry and I dedicated another year to asset management of retail and industrial projects in Romania.
After 13 years' experience in sales and marketing, I am now in charge of  leasing new and existing vacant space in assigned properties and I coordinate and negotiate lease documents.
I consider myself a visionary, constantly looking for projects that are out of print, anticipating the requirements of the Romanian consumer and implementing “the new next cool thing” ahead of its times.
 

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Simina Niculita

Director | Partner | Romania

Bucharest

Simina joined Colliers International in May 2005. She started her career as a junior broker selling new apartments in some of the first residential projects. In less than one year, she became the Project Manager of several residential projects, coordinating the sales team and advising on the sales and marketing strategy. She also provided consultancy for other new projects to be launched on the market.

During 2007-2008, Simina led the residential investment team and offered consultancy to investors interested in acquiring portfolios of apartments. She managed to sell a total of 1,300 apartments in 14 months and coordinated the sales & marketing strategy for off-plan residential projects: Central Park, Global City, Flamenco, Seasons, Green Lake, Sky City;

Simina joined the Retail Agency at the beginning of 2009, creating several retail schemes both as a Project Manager and as a Leasing Broker. Her work with the developers involved concept consultancy, market research, team coordination, and leasing strategy.

Currently, Simina is Associate Director of the Retail Agency and has an active role in establishing the strategy and the priorities of the Shopping Centers team. Simina is focused on project management, providing consultancy for future major retail schemes and negotiating with anchor tenants and medium size tenants. 

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Liana Dumitru

Associate Director | Romania

Bucharest

Liana started her career in Colliers in the residential field, concluding both lease and sales transactions for tenants such as Citibank, JTI, Canadian Telecommunication Systems, Daiwa Securities, Union Fenosa, Kuhne and Nagel, Piraeus Bank, and others.
Liana joined the retail department in 2005 after graduating the Romanian – Canadian MBA Programme (ASE, Ottawa University, HEC Montreal). She was involved in both leasing and marketing services for shopping center developers such as Globe Trade Center (GTC), Mivan Development, Futureal Group, Neocity, Immoeast and Benevo. Liana was also part of the leasing process of two shopping center developments: Mega Mall Bucharest (a shopping center project of 70,000 sq m of GLA to be delivered in 2014) and Cora portfolio (Bacau, Bucharest).
She specialized on shopping center projects and got involved in each stage of the development process: concept and tenant mix development, project marketing strategy, and coordination of the leasing process.
 Currently she is part of the leasing team for benevo’s project “victoria city lifestyle center”, working with well-known brands
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Izabela Lamatic

Associate

Bucharest

Highly organized, capable of  prioritizing effectively to accomplish multiple tasks and stay calm under pressure.

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