Skanska has sold Generation Park Z office building in Warsaw to Deka Immobilien, one of Europe’s leading real estate investment managers. This is the buyer’s fourth acquisition with Skanska in Central and Eastern Europe.
“Office sector remains one of the safest in volatile market situation. Combination of trustworthy Skanska brand and high quality futureproof building leased to well-known tenants create a valuable and stable investment product, also for uncertain times. – said Katarzyna Zawodna-Bijoch, President and CEO of Skanska commercial development business in Central Eastern Europe.
Generation Park Z is part of the Generation Park office complex located in the heart of Warsaw. The three-building complex offers ca. 87,000 sqm and benefits from very good transportation options including the second metro line, trams and buses in the immediate proximity to the Daszyńskiego Roundabout. Generation Park Z is fully leased to Vistra and Crido, among others. The property comprises a total leasable area of approx. 19,000 sqm and 110 underground parking places for cars, as well as 102 for bikes. It offers convenient infrastructure for cyclists and runners, including showers and changing rooms.
“Skanska has been an active player on the Warsaw office market for years. Generation Park Z is located in the most desirable and fastest growing Warsaw city center destination in recent years. The demand for prime office buildings in this location is extremely high, that’s why we are happy to meet the needs of investors and tenants by delivering our innovative and futureproof workplaces there. We are pleased that Deka has once again chosen one of our buildings,” says Adrian Karczewicz, Head of Divestments at Skanska commercial development business unit in the CEE.
The demand for new offices in the capital city of Poland remains very high and drives developer activity. In 2019, seventeen new buildings were delivered with a total volume of 162,000 sq m and Generation Park Z was one of the three largest office developments among them, according to JLL.
Skanska focuses on delivering sustainable and human-centric projects that are environmentally friendly and support the tenants’ health and wellbeing. Common areas in Generation Park Z consist of many elements such as a tree in the main lobby or a mural inside the garage entrance. The property offers amenities – restaurants and coffee shops. It also has a terrace on the 13th floor with a lot of greenery, which provides an excellent view on the neighborhood and is a great place to relax, work, organize company events or fitness activities. Generation Park Z provides easy access to the office complex patio, which includes green areas with a garden café, meeting points or bike infrastructure. The pavement on the patio and around the building is an innovative “green concrete”, a unique self-cleaning product that also cleans the air of toxic compounds from car exhausts.
The building is equipped with an integrated building operating system – Connected by Skanska – which facilitates daily office management. The system will enable users to move around the building using their smartphone instead of traditional access cards. It will also provide a virtual reception. The building will feature a parking system that will recognize license plates and allocate available spaces.
Generation Park Z has been LEED Platinum pre-certified and is applying for WELL certification. It will also apply for the Building without Barriers certificate, which proves that the building is friendly and adapted to the needs of people with disabilities and with children.