CPIPG finalizes purchase of Concept Tower office building

Largest commercial real estate owner in the Czech Republic, Berlin and Central and Eastern Europe, CPI Property Group (CPIPG), expanded its portfolio by the fourteenth office building in Warsaw – Concept Tower. Thus, it became the owner of the largest office portfolio in Warsaw in terms of GLA.

The takeover of the Concept Tower office building is the sixth CPIPG’s transaction in 2020. The purchase of the office building increases the portfolio of CPIPG office space to 314,000 sqm. 

Located in the dynamically developing Wola district, at ul. Grzybowska 87, the 15-storey Concept Tower, fits perfectly into the CPIPG acquisition strategy. The building was built in 2012. It has 9,000 sqm of A + class office space. Remarkable architecture, with a characteristic glass façade, provides constant access to daylight, and the high standard of finishing guarantees convenience and comfort of work. The location of Concept Tower allows for quick access from the center of Warsaw, and the proximity of the second metro line facilitates communication with other districts. An additional advantage is the rich commercial and gastronomic offer in the vicinity of the building. The office building has a Leed certificate at the Gold level.

“Negotiations regarding the acquisition of the Concept Tower began long before the Covid-19 pandemic broke out. We are extremely pleased that we have successfully completed the transaction," Tomas Salajka, Head of Acquisitions and Asset Management at CPIPG, said.

(WBJ)