The Park Warsaw signed leases for nearly 16,500 sqm last year

by   CIJ News iDesk III
2023-03-08   08:52

White Star Real Estate in its flagship Warsaw project The Park Warsaw at 50 Krakowiaków Street signed leases for nearly 16,500 sqm last year. This result consisted of 10 contracts with new tenants, and 5 extensions of existing contracts. At the same time, 4 companies decided to expand the space they occupy.

As many as 10 new companies joined the ranks of tenants last year at The Park Warsaw office campus, located in Warsaw's Włochy district. The largest transaction was a 2021/2022 deal for EURO-net, , 80 percent of Building 9. The owner of the retail chain RTV EURO AGD will move into the new office, which is about 9,000 sqm, already in the middle of this year.

Danish pharmaceutical company Novo Nordisk has also become one of the new tenants in the Warsaw complex. Starting this October, the company will occupy 2,500 sqm in the complex, some 600 sqm more than before. This tenant's office will occupy an entire floor. Novo Nordisk's existing neighbor, Smartney, a lending company owned by Oney Bank, has also increased the space it occupies, relocating to the neighboring B7 building. Smartney will move into its new office as early as May and will occupy 1,100 sqm. Transport and logistics company Asstra has also expanded its office within The Park Warsaw, already announcing further growth and the need for expansion. The logisticians now occupy more than 2,000 sqm in building B4. The most recent deal to be made within the complex was with Yokogawa, which will occupy nearly 600 sqm.

The following companies have also decided to stay on campus for the next few years and extend their leases: Johnson Controls, Perfetti van Melle, Arrow and Cemex. At the moment, the entire project is about 95 percent leased.

"From the beginning, we were keen to create a place where tenants can grow their business and employees can spend time in an inspiring and friendly environment. The companies appreciated our efforts, so we can build long-term relationships, resulting in further cooperation. We are developing the project all the time, taking special care to provide a tailored range of additional services for our tenants. Last November we opened a Meet & Eat canteen, which is very popular among employees," says Tomasz Michalczyk, Associate Partner at White Star Real Estate.

During the lunch break, depending on your preference, the campus also offers The Park Kitchen food zone, Green Caffé Nero café and Delikatesy Centrum grocery store. Also available at The Park Warsaw is a relaxation zone equipped with a game console, big screen, flippers and reclining chairs. The fitness club of the Zdrofit chain is also in high demand, and the range of amenities is complemented by a bilingual kindergarten and nursery, KIDS&Co.

A hallmark of the projects developed by White Star Real Estate is well-being and great attention to the use of plants in the surroundings of individual developments. At The Park Warsaw complex, we will see carefully selected trees, shrubs, flowers, fountains and other architectural elements that create an exceptionally healthy environment. The complex also features aquariums with freshwater and saltwater fish, flower meadows, insect hotels and an apiary.

The high interest in offices at The Park Warsaw is in line with the capital's office market trends. According to Newmark Poland, in 2022, tenant activity in the Warsaw office market returned to pre-pandemic levels, and demand for the entire previous year amounted to 860,000 sqm, more than 33 percent higher than the year before.