ARTICLES

Two new lease contracts almost 8,600 sqm in Warsaw Trade Tower

10.08.2016

Warsaw Trade Tower (WTT) with two new lease contracts for a total area of almost 8,600 sqm: one with a new tenant, Golden Floor providing conference services, and the other with an already existing client, who has decided to prolong their contract and expand their leased area. The company responsible for the commercialisation of the building was Savills which is an advisory services company that represented the WTT owner (Akron Investment Central Eastern Europe II) and its asset manager (HEITMAN).

Trade Tower signs two lease contracts for a total area of over 8,600 sqm! The new tenant is Golden Floor, a company that provides conference services, who will occupy 1400 sqm: 1,164 sqm on the 32rd floor and 236 sqm on the ground floor starting in July, 2017. Warsaw Trade Tower was represented by the advisory services company Savills and the tenant by Patron Brokers. Additionally, one of the existing clients at WTT has prolonged their lease contract for almost 6,000 sqm and expanded their leased area by another 1,220 sqm. During the signing of the contract for a total area of 7,160 sqm WTT was represented by Savills and the tenant by the advisory company JLL.

The office real estate market has been undergoing dynamic changes in the recent years. The growing amount of office space to lease has influenced the significance of the existing locations. Once, the most prestigious area was the Śródmieście district. Now, in the eyes of both investors and tenants, the so-called Central Business District (CBD) has entered the area of the postindustrial Wola (especially after the construction of the second line of the Warsaw underground), where the pioneering and iconic position is held by Warsaw Trade Tower. Additionally, the market is undergoing changes in the perception of the workplace. It obligates companies to expand their criteria while choosing an ideal place for their office. As Izabela Kapil, Vice President of Portfolio Management – Europe claims: In the past, the price was most important. Now, it is the expectations of employees that are also taken into consideration. They include a convenient location and also the standards of interior design. Employee well-being has become one of the key factors in the process of choosing the right office. The awareness of the above and the will to meet the expectations have become the motor of the changes that Warsaw Trade Tower has recently experienced. Owing to the modernisation of the building with the tenants' needs in mind, we have created brand new quality in office space. That is why we are very happy to see that our tenants stay with us and develop. We are also very glad to welcome new companies. Thank you!"

Warsaw Trade Tower (WTT) was built in the late 90's as a pioneering architectural project. Its total height of 208 metres and the roof that is 184 metres high make it the tallest office building in Warsaw. The building has been dominating Warsaw's panorama for many years now. It has set the trends and become the symbol of quality and prestige. In the years 2015-16, it was modernised in accordance with a thorough analysis of its tenants' needs by a working group consisting of architects, real estate commercialisation advisors and branding specialists. Owing to the modernisation process the building has gained a number of facilities that set the standards for office buildings today e.g. in the function of common spaces and the surroundings. Additionally, the building has been environmentally certified by means of the "BREEM In-Use" method and has received the level Very Good in the Asset Performance category.


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