News Article Deka Immobilien investment office Poland Skanska Warsaw
by Property Forum | Investment

Skanska has sold the Generation Park Z office building in Warsaw to Deka Immobilien for €98 million. This is the buyer’s fourth acquisition with Skanska in Central and 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. 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.

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.

“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 centre 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’s 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 sqm and Generation Park Z was one of the three largest office developments among them, according to JLL.