HB Reavis completes West Station I in Warsaw

03
Nov
2016
News - HB Reavis completes West Station I in Warsaw #development #HB Reavis #office #Poland #Warsaw

by Ákos Budai | Office

Construction of the first of two West Station office buildings, located in the immediate vicinity of the new Warszawa Zachodnia railway station, has completed. The complex, seen from both Jerozolimskie Ave. and all passing trains, will soon welcome its first occupiers. Its developer, international real estate company HB Reavis, signed a loan contract to refinance the project.


West Station is a joint venture development by HB Reavis, PKP S.A. and Xcity Investment. The partners first delivered the new Warszawa Zachodnia railway station building last year. The neighbouring office building is the following step in creating a functional urban environment on this part of Jerozolimskie Ave. As part of the project’s improved accessibility, investors reconstructed a nearby junction, and extended the bicycle lane linking the new office building with the city centre. HB Reavis has signed a loan contract with mBank for €45 million to refinance the development costs of West Station I.
 
With 75% of the building already being leased, the 14-storey West Station scheme will house offices of PKP Group companies among others. In additional to new office spaces, West Station I will accommodate a WARS restaurant, Costa Coffee café, as well as a bakery by Goraco Polecam Nowakowski.
 
The second West Station building is due to complete in Q3 2017. The entire complex, designed by Polish architecture studio FS&P Arcus Sp. z o.o., will offer a total of 68,000 sq m of Grade A office space upon completion. West Station I has been awarded the BREEAM Interim certificate at “Excellent” level.



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New leases

  • Cordon Electronics, a specialist in electronics and advanced technologies, has renewed its lease agreement at MLP Pruszków II, in the immediate vicinity of Warsaw. The company will continue to occupy a total of 7,770 sqm of modern space, a footprint that includes 458 sqm dedicated to office operations.
  • mBank, the digital banking company in Poland, has decided to relocate its largest corporate branch in Lower Silesia to the Infinity office building in Wrocław. The company will occupy nearly 1,300 sqm on the fourth floor of the building. The tenant will move into the development owned by Avestus Real Estate and Alchemy Properties in January 2027.
  • GSP Global Solutions Provider has further expanded its cooperation with CTP by leasing an additional nearly 7,000 sqm in CTPark Budapest Vecsés on a long-term basis.

New appointments

  • Krzysztof Wróblewski (MRICS) has been named Head of Portfolio Management CEE at Peakside Capital Advisors, responsible for overseeing investments and managing the real estate portfolio. He succeeds Christopher Smith in this role.
  • Garbe Industrial is reorganising its senior leadership team. CEO Christopher Garbe will now focus on strategic orientation and international activities. Jan Philipp Daun assumes leadership of the Development division alongside his existing Investment and Joint Venture responsibilities. Andrea Agrusow expands her remit to include Portfolio Management while retaining control of Commercial and Real Estate Management. Additionally, Michael Marcinek and Maik Zeranski will now jointly head the restructured Development unit as Management Board Members, succeeding Adrian Zellner.
  • CPI Property Group is strengthening its leasing structure with the appointment of Agnieszka Baczyńska as Head of Leasing. In her new role, she will be responsible for shaping and executing the leasing strategy across the group’s office and retail portfolio in Poland. At the same time, Izabela Potrykus has been appointed Leasing Office Director. Baczyńska brings more than 20 years of experience in the commercial real estate market. Prior to joining CPI Property Group in 2022, she served as International Leasing Director at Neinver Polska.


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