Office creep continues with Jerozolimskie Business Park
The JBP joined the ranks of partly completed office complexes like Ochota Business Park. Lessees for the first phase of the four-part JBP project are pharmaceutical company, Roche Polska, coffee maker Tchibo and construction design firm E&L Projects. The majority investors, D&V Properties (Belgium) will also take up space in the building.
The $24 million in project financing comes from the deep pockets of D&V, which covered 58% of the cost. The remainder comes from a $10.08 million credit line from IBP Bank, marking its largest involvement yet in Polish real estate.
Construction of the complex's second building is underway and is expected to be delivered by December 1996, said Anna Gazda, assistant to the director at D&V. Gazda said the building is pre-let to copier company Ricoh and Byk Polska, baby food maker. Leases are going for $34 per square meter for office space, but an underground parking space will cost $80 a month. The project's total gross area is over 13,000 square meters, with just above 12,000 square meters of leasable space.
The office creep may continue further outside of the city-center for D&V. Gazda said the firm is very interested in developing the empty plot just west of the JBP site for an entirely different project.
Ilmet starts to go
Berliner Bank is the first major tenant to sign on for space at the Ilmet Complex on Rondo ONZ. The bank will take 1200 square meters. The Warsaw office of Healey & Baker represented Ilmet in the lease agreement. Richard Petersen of Healey & Baker said this first deal is important for the project because most tenants do not like to be the first to sign on.
With that all important horse corralled, another tenant may be ready to rush in. An unnamed, U.S.-based software company is expected to take another 1,600 square meters.
The project, a joint venture between Austria's Bau Holdings and Poland's Impexmetal is expected to be completed by December 1996. The project's gross space area is 32,000 square meters.
Healey & Baker were originally the exclusive letting agents for the project, but an apparent disagreement between Austrian partner Ilbau, a division of Bau, and the local joint-venture managers over agent representation has opened the project to all comers. But Healey & Baker doesn't seem worried.
"We brought in all the tenants at the Aktyn (Center)," Petersen said. "We've been here five years and in some way I welcome the competition."
In other Healey & Baker news, the agency is offering refurbished space in the city center for lease on ulica Widok 8. The lease offer includes up to 3000 square meters of space, with about 300 square meters of open plan floor space on each level.
Supreme Court Building
One of Warsaw's most distinguishing features, the monument on ulica Miodowa to the Warsaw uprising against Nazi occupation, will soon have a new backdrop.
The Polish government plans to build a new, supreme court building on the tour bus parking lot next to the monument and create a kitschy reflective glass background for the statues of struggling soldiers that constitute the monument.
The site's construction office and barricades have already been erected for the project. An architectural rendering was not available at press time but the project will also include an enclosed glass bridge that will span ulica Miodowa to the site of the project's second building in front of the old national library.
The $70 million project is 92% financed from the state treasury, with the remainder being covered by the Warsaw Centrum municipal government. The project will include over 400 below-ground public parking spaces, said Antoni Syran, director of the board of construction of Plac Krasinskich, a supervisory board for development of the monument area. The project is scheduled for completion in 1999.
The $24 million in project financing comes from the deep pockets of D&V, which covered 58% of the cost. The remainder comes from a $10.08 million credit line from IBP Bank, marking its largest involvement yet in Polish real estate.
Construction of the complex's second building is underway and is expected to be delivered by December 1996, said Anna Gazda, assistant to the director at D&V. Gazda said the building is pre-let to copier company Ricoh and Byk Polska, baby food maker. Leases are going for $34 per square meter for office space, but an underground parking space will cost $80 a month. The project's total gross area is over 13,000 square meters, with just above 12,000 square meters of leasable space.
The office creep may continue further outside of the city-center for D&V. Gazda said the firm is very interested in developing the empty plot just west of the JBP site for an entirely different project.
Ilmet starts to go
Berliner Bank is the first major tenant to sign on for space at the Ilmet Complex on Rondo ONZ. The bank will take 1200 square meters. The Warsaw office of Healey & Baker represented Ilmet in the lease agreement. Richard Petersen of Healey & Baker said this first deal is important for the project because most tenants do not like to be the first to sign on.
With that all important horse corralled, another tenant may be ready to rush in. An unnamed, U.S.-based software company is expected to take another 1,600 square meters.
The project, a joint venture between Austria's Bau Holdings and Poland's Impexmetal is expected to be completed by December 1996. The project's gross space area is 32,000 square meters.
Healey & Baker were originally the exclusive letting agents for the project, but an apparent disagreement between Austrian partner Ilbau, a division of Bau, and the local joint-venture managers over agent representation has opened the project to all comers. But Healey & Baker doesn't seem worried.
"We brought in all the tenants at the Aktyn (Center)," Petersen said. "We've been here five years and in some way I welcome the competition."
In other Healey & Baker news, the agency is offering refurbished space in the city center for lease on ulica Widok 8. The lease offer includes up to 3000 square meters of space, with about 300 square meters of open plan floor space on each level.
Supreme Court Building
One of Warsaw's most distinguishing features, the monument on ulica Miodowa to the Warsaw uprising against Nazi occupation, will soon have a new backdrop.
The Polish government plans to build a new, supreme court building on the tour bus parking lot next to the monument and create a kitschy reflective glass background for the statues of struggling soldiers that constitute the monument.
The site's construction office and barricades have already been erected for the project. An architectural rendering was not available at press time but the project will also include an enclosed glass bridge that will span ulica Miodowa to the site of the project's second building in front of the old national library.
The $70 million project is 92% financed from the state treasury, with the remainder being covered by the Warsaw Centrum municipal government. The project will include over 400 below-ground public parking spaces, said Antoni Syran, director of the board of construction of Plac Krasinskich, a supervisory board for development of the monument area. The project is scheduled for completion in 1999.
