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The Warsaw Voice » Real Estate » July 1, 2009
The Real Estate Voice
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Office Market:
July 1, 2009   
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DNV at Łużycka Office Park
In June DNV purchased an office building at 6 Łużycka St. in Gdynia. The building, with usable space of about 9,500 sq m, including about 4,390 sq m of office space, will be the fifth and last office building in the growing Łużycka Office Park complex in Gdynia. The new owners will move in as early as March 2010.

The investor behind the complex is Łużycka Investment, an investment vehicle set up for the project by Allcon Investment. The complex will occupy over 2 hectares. The total office space in all five buildings is 22,000 sq m.

Loan for Park Postępu
Echo Investment, an investor and developer company with Polish capital, has signed a loan agreement with Eurohypo AG bank to the tune of 50 million euros. The money will be used to refinance the construction of the Park Postępu office complex at 21 Postępu St. in Warsaw. The loan will be paid out in five installments up to Sept. 30, 2010. The repayment deadline is Jan. 31, 2020.

Park Postępu is a modern A-class office complex comprising four buildings connected by a shared ground-floor level. The complex is being built in Warsaw's Mokotów district at the intersection of Postępu and Domaniewska streets. Each building has seven stories above ground and two below. The total usable space is about 33,000 sq m. Construction began in January 2008. The first tenants will be able to start working at the complex in the third quarter of 2009.

Eurohypo AG is one of Europe's largest banks specializing in financing investments on the real estate market, with branches in Europe, Asia and the United States. Previously, Eurohypo and Echo Investment cooperated on financing projects such as the Pasaż Grunwaldzki (Wrocław) and Galaxy (Szczecin) shopping and entertainment centers, and office projects Postępu 3 and Athina Park in Warsaw.

Deloitte House Opens
Tenants can move into the new Deloitte House office building in Warsaw, the latest stage in the construction of the Atrium project. Atrium is being built by Skanska in the heart of Warsaw, along Jana Pawła II Avenue. The A-class building has 20,000 sq m of space. Tenants have 14 office stories at their disposal as well as a three-level underground garage for over 200 cars.

Deloitte House is the first and so far the only building in Poland to have received a GreenBuilding certificate from the European Commission. GreenBuilding is a program established in 2005 with the aim of improving effective energy use in commercial buildings. Projects receiving the certificate have to report energy use at least 25 percent lower than required by national standards in a given country. Energy use at Deloitte House is 32.5 percent lower than required by Polish law, as proved by a study conducted by independent auditing company ProBe.

The building is home to headquarters or branches of Deloitte, King Sturge, Skarbnica Narodowa, Nordea Bank, AIG Bank, Skanska Property Poland, HRS, and Delta Optical.

Cross Point Offices for ŁódĽ
Mermaid Properties' Cross Point, an A-class office building in ŁódĽ, will be ready for occupancy in the third quarter of this year, the company says.

Cross Point will occupy the former site of the Adam Próchnik Clothing Manufacture company at 20 ¦migłego-Rydza Ave. The building is undergoing renovation and enlargement to convert it into a modern A-class office building. Cross Point will have 12,500 square meters of office space. Visitors can see a "demonstration" office sized 315 sq m. It has open-plan office facilities, a traditional office sized 34 sq m, a staff room and restrooms.
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