Skanska Property Poland has sold Atrium 1, its showcase green office building in the heart of Warsaw, to the German open-ended property fund Deka Immobilien-Global. The value of the transaction was around EUR 94 million. Atrium 1 is Skanska’s fourth new office project in Poland purchased by an investment fund within the last 10 months.
The building offers 18,000 square meters of leasable office and retail space and its completion is scheduled for the beginning of 2014. Currently it is 75% leased, with Bank Zachodni WBK of the Santander Group as the key tenant. The 12-year contract for 12,200 square meters signed in September 2013 was the largest lease agreement in recent years in Warsaw’s Central Business District.
“We are glad that Atrium 1, our showcase office building in Warsaw, numbers among our projects sold before completion”, says Waldemar Olbryk, President of Skanska Property Poland. “This once again proves that investors have great trust in us, which is a result of several factors: the strength and reputation of the Skanska brand, our 15-year-plus track record in the Polish office development market, and the recognition of the quality Skanska S.A. guarantees as the general contractor of all our projects. The commercial success of Atrium 1 also shows that our decision to build sustainably is the right direction and LEED certification is confirmation not only of green features in the building but also its quality”, Waldemar Olbryk explains.
Atrium 1 is located on the ONZ roundabout in the very centre of Poland’s capital, with direct access to public transport and next to a future station of the Warsaw metro system, with many shops, restaurants and other facilities in the vicinity. Due to pioneering technologies including a geothermal heating and cooling system with piping extending 200 meters underground, Atrium 1 is the most sustainable office building in Poland. Atrium 1 has already been LEED precertified with the highest Platinum rating. Skanska also made sure that the building would create an optimum work environment in terms of air quality, access to daylight and outside views, light intensity adjustment, and the use of low-emitting building materials and finishes.
“Atrium 1 is another of our projects situated at Jana Pawła II Avenue in Warsaw to be purchased by Deka, which shows that this business relationship is built on mutual trust and brings benefits to both parties. We hope that such fruitful cooperation will continue in the future”, said Katarzyna Zawodna, Regional Director at Skanska Property Poland.
In the transaction the purchaser was advised by Jones Lang LaSalle, whereas Colliers International acted as the exclusive sale agent of Skanska Property Poland. Legal advisors in the transaction were Allen & Overy for Deka Immobilien-Global and Dentons for the seller.