Ghelamco’s Warsaw Spire with record-high lease

Developer Ghelamco has confirmed it signed a lease agreement for a record 22,000 sqm in Building A of its Warsaw Spire complex, currently under construction in Warsaw’s Wola district. The developer did not specify the tenant, however earlier reports point to it being Samsung. The deal was signed for seven years. The scheme will feature a total of 100,000 sqm within three buildings. The scheme, scheduled to be completed in 2016, is now 50 percent leased, Ghelamco said. JLL advised the tenant on the deal. “The agreement is the biggest lease transaction on the office market in downtown Warsaw. We are glad to have been able to assist the tenant with respect to this deal, especially since it involves consolidating the company’s R&D functions from three different locations around the city. Our client was looking for a unique and modern building which boasts great location, offers a lot of amenities and allows long-term expansion. Warsaw Spire, top-class office complex built by a leading developer, Ghelamco, has met all these requirements. It is also worth noting that a flexible transaction structure is highly important when it comes to very large lease contracts like this one,” said Karol Patynowski, associate director, Tenant Representation, JLL. Building B of the complex was delivered in September 2014. The second of the two smaller buildings is nearing completion, while the main tower is slated for 2016.