ARTICLES LABELLED WITH TAG office

After nearly a decade, the Avatar office building will be offering office space for lease again. A total of 2,400 sqm of space spread over two storeys will become available for new tenants in Q2 2020. BNP Paribas Real Estate will represent the building’s owner – the Spanish fund Azora Europa, as the exclusive agent for the leasing process.

Cushman & Wakefield has been appointed an exclusive agent for leasing office space at Horizon Plaza in the Mokotów district in Warsaw.

The tight labour market is changing the way developers think. While designing an office building they think not only about who will lease space, but also what they should do to make people want to work there, says Artur Sutor, Partner and Head of Office Department at Cresa Poland.

Skanska has sold Buildings C and D of the Silesia Business Park, a four-building office complex in Katowice. The buyer is ISOC Group, a diversified real estate and infrastructure investment group, based in Manila, Philippines. This is Skanska’s first CEE office divestment transaction to a Philippine investor. With the sale of buildings C and D, the developer has now sold all four properties in the Silesia Business Park complex. Buildings A and B were divested in 2015 to a Swedish investor.

Redwood Real Estate Holding has sold its recently delivered Ecodome office building in Budapest. The name of the buyer and the transaction price has not been disclosed.

The Cedet building, located in central Warsaw, has been sold to a fund managed by GLL Real Estate Partners on behalf of Korean investors for €129.5 million. pbb Deutsche Pfandbriefbank provided a credit facility of €75.4 million to the buyer.

Futureal Group has sold its portfolio of Corvin office buildings to real estate funds managed by OTP Real Estate Investment Fund Management. The recently closed transaction involves all of the operating office buildings built as part of Corvin Promenade, as well as two currently being constructed. The total of eight Class A buildings offer a combined GLA of nearly 80,000 square meters.

According to the latest report by JLL, Disruption or Distraction, the flexible office space sector in Europe has more than doubled since 2014, and could grow by up to 30% per year over the next five years. These forecasts - based on an analysis of 20 major European markets - also include Warsaw, which dominates the Polish flex market.

Czech investment group Enern, owned by online supermarket Rohlik.cz, together with US investor Lincoln Property Company, has acquired the Palác Karlín building in Prague from Danish company Kirkbi Invest A/S for an undisclosed sum.

The Gatehouse Offices, the first office building of Warsaw Brewery, will be acquired by a fund managed by GLL Real Estate Partners. The project of Echo Investment, which will obtain the occupancy permit in Q4 2018, will be sold for €76.5 million.