Adgar buys Renaissance Tower office building in Warsaw

17
Aug
2022
News - Adgar buys Renaissance Tower office building in Warsaw #Adgar #investment #Octava #office #Poland #Warsaw

by Property Forum | Investment

Adgar Poland has acquired the Renaissance Tower office building in Warsaw's Wola district from Octava Property Trust. The price has not been disclosed.

Renaissance Tower, a 15-storey office building located at ul. Skierniewicka 10A, comprises 18,000 sqm. It was completed in 2001 and underwent extensive renovation sin 2013. The property will soon change its name to Adgar Renaissance Tower and is to become the latest location for Adgar Poland to open one of its own Brain Embassy coworking centres.

"Adgar Poland has until now only owned office space in Warsaw outside Wola – in the city centre as well as in Mokotów and Ochota", commented Michael Mevorach, the country manager of Adgar Poland. 

The new owner plans to refurbish the building and bring it up to the standards offered to tenants in the other eleven capital properties.


Adgar investment Octava office Poland Warsaw


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New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


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