Real estate investment manager Cromwell Property Group has sold the Warsaw Corporate Centre (WCC) office building located in the downtown of the Polish capital. Neither the buyer nor the value of the transaction have been revealed. The WCC was completed in 1997 and comprises over 8,600 sqm of space. Cromwell Property Group increased the occupancy level at the building from 80% to more than 95% in the two-year period since its acquisition with current tenants including Danske Bank and Mbank.
“The sale of the Warsaw Corporate Centre with significantly improved occupation marks a smart turn-around of a well-located city center office asset over a two-year period. We are currently experiencing strong demand from international investors looking to deploy value-add capital in the CEE region, with a particular focus on Polish and Czech real estate,” commented Karol Pilniewicz, head of CEE at Cromwell Property Group.