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The Warsaw Voice » Real Estate » January 13, 2010
The Real Estate Voice
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In brief
January 13, 2010   
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Office Market: Topping-Out Ceremony on Poloneza Street
Hochtief Polska's Warsaw branch has finished the "roofed-shell" stage of an office building in Warsaw's Ursynów district, on Poloneza Street. The investor is Poloneza Investment.

After it is completed, the building will be the headquarters of companies from the Juwentus Group. It will be a three-story office building with an underground garage, a parking lot above ground and warehouse space. The total area will be 7,300 sq m.

Construction began in July 2009, and the topping-out ceremony, a symbolic decoration with branches and flowers signifying the end of construction of the roofed shell of the building, took place Dec. 21. Completion of the project is scheduled for June 2010.

Office Market: Skanska Sells Green Office Building
Skanska has sold its eco-friendly Marynarska Point building for 70.8 million euros (about zl.295 million) to Investec GLL, a Luxembourg-based investment fund.

The Marynarska Point complex opened in the first half of 2008. The building has 26,000 sq m of modern office space which has been fully leased.

Marynarska Point is the second building in Poland to receive a Green Building certificate. This document is issued by the European Commission to facilities that consume at least 25 percent less energy than required by national construction standards.

Office Market: Record Lease for Poleczki Business Park
The Agency for Restructuring and Modernization of Agriculture (ARiMR) has signed a lease for 16,500 sq m at Poleczki Business Park in Warsaw. This marked the biggest lease transaction on the Polish commercial real estate market last year.

Poleczki Business Park, a project by UBM Realitaetenentwicklung AG and CA Immo International, aims to be the largest business park in Poland.

The first stage of Poleczki Business Park, with a total of 38,000 sq m of office space and 7,000 sq m of retail space, will be ready for use in the first half of 2010. The whole project, with an area of about 200,000 sq m, will be completed in stages over the next nine years.

Residential Market: Phase 9 of Derby Estate Gets Under Way
Dom Development has begun construction on phase nine of its Derby housing estate in Warsaw's Białołęka district, on Skarbka z Gór Street. Completion is planned for mid-2011.

The Derby 9 development will comprise three four-story buildings with a total of 258 apartments with an average area of 47.79 sq m. The smallest home is a one-room apartment of 32.1 sq m, and the biggest is a four-room apartment of 67.2 sq m. Prices range from zl.5,400 to zl.7,500 per sq m.

In addition, three pavilions within the development will house nine commercial units ranging from 38.4 to 120.4 sq m, offered for a net price of zl.7,000 per sq m. The project will also include an underground garage with 224 parking spaces each priced at zl.26,000. Another 34 parking spaces on the estate will each be available for zl.9,000. The development has been designed by the CK Architekci studio and the contractor is Henpol.

Residential Market: Nowe Powi¶le Stage Two
The Nowe Powi¶le project, which Menolly Poland is building in Warsaw right next to the University of Warsaw Library, the Copernicus Science Center and the Vistula River, has entered its second stage.

Stage one saw the completion of over 300 luxury apartments and penthouses. Stage two of Nowe Powi¶le involves the restoration of the historical buildings of the Powi¶le Heat and Power Plant, Warsaw's first ever power plant, which became operational in 1904. Restaurants, boutiques and art galleries are just some of the planned uses for the newly renovated space.

Construction work will yield a total of 40,000 sq m of space within the former power plant complex. The current plan for the project provides for more than 30,000 sq m of A-class office space and over 5,000 sq m of retail and service space. The start of construction is planned for the first quarter of 2011.

The architectural design will be prepared by the APA Wojciechowski studio. CB Richard Ellis is responsible for renting out the retail space, while Jones Lang LaSalle is looking for tenants for the office space.

Warehouses & Industrial Market: New Leases at ProLogis Park Wrocław
ProLogis, a developer of distribution facilities, has signed leases for a total of 4,500 sq m at ProLogis Park Wrocław with two clients from the furniture sector. One of them is Katowickie Przedsiębiorstwo Meblowe Agata SA, a furniture retail chain that has leased 2,286 sq m of warehouse space in building 1 for its nationwide distribution operations. DTZ was the agency representing ProLogis in the negotiations. The other company is Black Red White, which decided to extend its lease contract for 2,258 sq m of space, also in building 1. The agent for this transaction was Cushman & Wakefield.

ProLogis Park Wrocław is a modern distribution center 2 km from the southwestern city of Wrocław, in Kobierzyce commune. The park comprises eight buildings offering more than 167,000 sq m of modern warehouse space.

Retail Market: Domator Store Constructed in ŁódĽ
15 Wydawnicza St. in ŁódĽ will be the address of a new Domator home decoration center whose opening is planned for the spring of 2011. The investor and contractor is Europlan.

The project will fit between the existing Nomi and Castorama stores, not far from the Tulipan shopping center. Domator will offer 10,000 sq m of modern retail space to about 20 businesses specializing in interior design and decoration and selling a wide array of home decoration goods.

Commercial real estate consultants Colliers International are the exclusive agent responsible for renting out the space and ensuring an optimal tenant mix.

Compiled by Magdalena Fabijańczuk
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