Develia sums up 2020 in commercial real estate market
23:06
Develia started the year 2020 with a strong accent, finalizing the record sale of the Wola Center office building for €101.9 million. In the last quarter, the company managed to obtain a building permit for new office investment in Wrocław. Despite the turmoil on the market related to the coronavirus pandemic, the company's facilities – Wola Retro, Sky Tower, and Arkady Wrocławskie – have maintained a stable portfolio of tenants. Last year, the company leased over 10,000 sqm of commercial space.
In 2020, Develia signed 19 new agreements for the lease of commercial and office space and extended the 11 existing ones. Some companies extending their contracts due to organic growth decided to expand their premises.
“The office commercialization of our Wrocław facilities is stable and amounts to approximately 90 percent. The maintenance of the lease of the commercial part of Arkady Wrocławskie at the level prior to the first lockdown is also positive information. 96 percent of the occupied space at the end of 2020 is a good result in this extremely difficult period for the entire retail industry. The pandemic also found us in the process of remodeling the tenant structure and other spectacular changes to Sky Tower. Office space and an expanded entertainment and gastronomy zone, complemented by the convenience offered, are gaining more and more importance. Sky Tower, as one of the most recognizable buildings in the capital of Lower Silesia, is an exceptionally attractive place to work for Polish and international concerns,” Piotr Pirogowicz, Managing Director of Commercial Facilities of Develia, said.
“In 2020, we rented a total of 1,800 sqm of space in Warsaw's Wola Retro. More and more companies in this facility are already working in stationary mode. However, tenants need time to be able to adjust fit-outs and provide employees with maximum comfort and safety. We help them by using, among others above-standard antivirus measures in the common parts of the building,” Pirogowicz added.
(WBJ)
