ARTICLES LABELLED WITH TAG Warsaw

A new luxury destination is taking shape in the Polish retail market with the opening of Europejski Hotel. The capital is to see the completion of the renovation and redevelopment of one of Warsaw’s most recognized buildings with 160 years of history. The 2,700 sqm of ground floor retail area will feature boutique units. Cushman & Wakefield is responsible for commercialisation of the scheme.

Marvipol S.A. entered into a preliminary agreement for the sale of Prosta Tower office building in Warsaw. The buyer is an international fund. The seller was represented by Colliers International.

Staamp Poland Sp. z o.o., a manufacturer of plastic components for the automotive industry, will add 2,600 sqm to its manufacturing facility in Błonie near Warsaw. Brica Group Sp. z o.o. is the general contractor of the project. Global real estate services firm Cushman & Wakefield represented Staamp Poland.

Echo Investment has signed a preliminary agreement with Invesco Real Estate European Fund (IREEF) to sell its flagship project, the Q22 office building in Warsaw.The value of the transaction will be established in the final agreement and it will be calculated on the basis of a formula which takes into account the actual sales date, a commercialization level and a cap rate of 5.35%. 

Construction of the first of two West Station office buildings, located in the immediate vicinity of the new Warszawa Zachodnia railway station, has completed. The complex, seen from both Jerozolimskie Ave. and all passing trains, will soon welcome its first occupiers. Its developer, international real estate company HB Reavis, signed a loan contract to refinance the project.

HB Reavis has selected JLL as the property manager of West Station I in Warsaw. JLL will be responsible for maintaining relations with tenants and supervising the technical, operational and administrative aspects of the building.

Echo Investment – a Polish developer – and Echo Polska Properties – an international fund operating as a REIT - signed agreements to jointly buy and jointly develop a real property at ul. Towarowa 22 in Warsaw from Griffin Real Estate, a Polish private equity fund. The buyers will pay €120 million for the property – €78 million upon signing the agreement, while the remaining amount will be paid after certain planning conditions are met.

Global law firm White & Case has signed a lease agreement for 2,500 sqm of modern space in the Q22 office building. The firm will relocate to its new office by the end of 2017 and will occupy floors 37-38 as well as part of floor 39. JLL represented White & Case during the process of selecting a new office and negotiating the lease terms.

KRM Poland, a distribution branch of the shoe retailer Ecco, has significantly expanded its warehousing and operations at Bokserska Distribution Center in Warsaw. The company is introducing its e-commerce platform to the facility and will occupy more than 10,500 sqm. Knight Frank, the manager of the property, advised the owner, UK & European in the transaction.

International real estate developer HB Reavis has signed a preliminary sale agreement to sell two of its buildings, situated in Warsaw, to Savills Investment Management on behalf of a Global Pension Fund client. In one of the largest transactions of the year in Poland and also in Central and Eastern Europe amounting to €186 million, Savills Investment Management has acquired buildings A and B of the Gdanski Business Center in Warsaw, totalling 48,000 sqm.