PFR Group companies extend 9,500 sqm lease at Warsaw’s revitalized Cedet building

Companies from the Polish Development Fund (PFR) Group, including leading insurer KUKE, have reaffirmed their commitment to the Cedet office building in the heart of Warsaw. The firms, which collectively occupy 9,500 square meters in the landmark property, have opted to extend their leases, citing the building’s modern features and prime location. The lease renegotiation process was facilitated by experts from the advisory firm Colliers.

The PFR Group, a key institution supporting Poland’s economic development by assisting entrepreneurs and local governments, was among the first tenants to move into Cedet after its grand reopening in 2018. Of the total space leased by PFR Group companies, 2,500 square meters are occupied by KUKE, a domestic and international receivables and investment insurance provider, along with its factoring division, KUKE Finance.

According to Marcin Sabowicz, Associate Director in the Office Space Department at Colliers, Cedet’s top-tier standards and strategic location were crucial factors in the tenants’ decision to stay. “This building seamlessly blends state-of-the-art technology with sustainability principles, making it an ideal choice for companies that value high-quality office space. Its prime location in central Warsaw further enhances its appeal and market advantage,” he said.

The building’s management also welcomed the tenants’ decision to remain. Łukasz Pawikowski, Head of Asset Management CEE & Nordics at Manova Partners, emphasized the importance of tenant satisfaction in maintaining long-term investment value. “We are delighted that our efforts to enhance the building’s comfort and energy efficiency have been recognized. Their continued presence reinforces a sense of community and serves as an encouragement for other tenants to remain in the Cedet complex,” he commented.

Cedet, formerly known as the Central Department Store (CDT), is a Warsaw icon with a storied history dating back to the late 1940s and early 1950s. Originally heralded as a modern marvel with innovations such as a glass façade, an underground parking garage, and Warsaw’s second-ever escalator, the building underwent significant changes over the decades. After sustaining fire damage in the 1970s, it was rebuilt in a simplified form.

In 2018, Cedet underwent a comprehensive revitalization, restoring its original architectural charm while introducing contemporary functionality. The renovation preserved key features such as the iconic neon sign while incorporating modern interior layouts and cutting-edge sustainability features. Cedet holds a prestigious BREEAM Excellent certification, recognizing its commitment to environmental and energy efficiency standards. The revitalized complex now offers more than 22,000 square meters of space, with 15,000 square meters dedicated to offices and 7,000 square meters allocated to retail.

The property is home to a diverse tenant mix, including leading brands such as WeWork, Smyk, Zdrofit, and Biedronka.

Legal support for the lease renegotiation was provided by SKJB on behalf of the tenants and Greenberg Traurig representing the building’s owner.

Cedet’s enduring appeal and strategic advantages continue to make it one of the most sought-after office locations in Warsaw, reinforcing its status as a cornerstone of the city’s commercial landscape.