HB Reavis lets nearly 51,000 sq m of office space and signs 16 new clients in H1 2015

HB Reavis Poland experienced high levels of activity during the first half of 2015. During the period, the company gained 16 new clients and leased out almost 51,000 sq m of office space across its three Warsaw investments. Major lease agreements include a record-breaking contract with PZU, Poland’s leading insurance company, in addition to a number of new office occupants at the second stage of the Gdański Business Center, with Bank BGŻ BNP Paribas and the Aviva insurance group among the latest clients. Contracts signed by HB Reavis over the first half of the year account for almost 20% of all new lease agreements in the Warsaw market during the period.

– Since the very beginning of HB Reavis’ operation our main purpose has been to bring remarkable experience to people’s lives through innovative and high quality real estate solutions. Being aware of changing market conditions, we are committed to providing trend-setting products, which meet the individual requirements of the most demanding clients. The last 6 months confirm that our strategy is effective – said Grzegorz Strutyński, Commercial Director and Member of the Management Board of HB Reavis Poland. And he added: – Since entering the Warsaw commercial real estate market just 7 years ago, we have firmly established ourselves as one of the most prominent developers. According to data published by the Polish Office Research Forum, HB Reavis was involved in 2 out of 4 largest lease transactions recorded in Warsaw in H1 2015, thanks to major new lease agreements signed by PZU Group and Aviva.

The record lease contract signed by PZU for almost 18,000 sq m of office space was a tremendous success for HB Reavis Poland. Poland’s leading insurance group leased three storeys of the Konstruktorska Business Center office complex to house its back office staff. The client has appreciated the unique, largest office floor in this part of Europe, with an area of over 7,000 sq m. Other new clients at Konstruktorska 13 include Paymax S.A. and the ‘1 Minute’ store. The international café chain COSTA COFFEE, operated by CHI Polska, has recently opened its newest outlet in the building, bringing the Konstruktorska Business Center office complex to 100% let.

The Gdański Business Center office complex, located in the Warsaw district of Muranów, has won 13 new clients since the beginning of 2015, with over 15,800 sq m of office space leased out across buildings A and B, and meaning that over 80% of the first stage of the investment has already been commercialized. In June of this year, HB Reavis also signed pre-let agreements for a total of 16,600 sq m of office space located in the second stage of the project, currently under construction.

Due to its excellent location and high quality business space Gdański Business Center has recently attracted the following clients:
• WebInterpret, a company specializing in e-commerce technologies, alongside the logistics operator Solid Logistics signed contracts for a total of 2,300 sq m in January.
• The next 2,000 sq m was let by three distinct clients: the international architectural firm Ove Arup & Partners, a notary’s office and a restaurant.
• The internet store Agito.pl (2,500 sq m), the IT company KMD of Danish origin (3 storeys with an area of almost 6,200 sq m) and the Polish branch of the American EMC Computer Systems corporation (1,000 sq m) announced their intention to move to the Warsaw district of Muranów in April.
• At the end of the first half of the year, lease agreements were made with the mobile service provider Digital Virgo (800 sq m) and CHBC Polonia (440 sq m).
• Bank BGŻ BNP Paribas S.A. signed pre-let agreements for over 4,100 sq m in buildings C and D, making it the first client of the second stage of the Gdański Business Center office complex.
• The Aviva insurance group will take up 400 sq m in building A and as much as 12,500 sq m in building C. This lease agreement, alongside PZU’s in January, were the largest transactions made in the Warsaw commercial real estate market in H1 2015.

HB Reavis continues to progress its ambitious growth plans, with another investment due for delivery in the coming weeks. The Postępu 14 office complex, launching in Q3 is located in the very heart of Mokotów business district, close to the Galeria Mokotów shopping centre, as well as to the Warsaw Chopin International Airport and the southern Warsaw ring road. Negotiations with potential clients are well underway, with the building’s prime location and high quality office space proving popular with prospective clients. Successful lettings will be announced in due course. Building work at the Warszawa Zachodnia railway station and the West Station complex is also progressing fast, with the first office complex due to complete in Q4 2016, and Polish conglomerate PKP Group among the first clients.