LC Corp SA has reported the best year in its history on the office real estate market. In 2018, the owner of office buildings located in Warsaw, Wrocław and Katowice concluded over 30 lease agreements for nearly 33,000 sqm office space. The company is already announcing the next records for 2019.
LC Corp SA is currently owns six office investments located in three Polish cities. The company’s portfolio includes Sky Tower, Retro Office House and Arkady Wrocławskie in Wrocław, the Silesia Star office building in Katowice, as well as the Wola Center and Wola Retro buildings in Warsaw. The latter is currently under construction.
In 2018, lease agreements for office space in the LC Corp office buildings were concluded by 22 new tenants, which gives 22,600 sqm office space leased in total. Another 10 companies occupying 10,300 m2 decided to extend their lease agreements. Taken together, in 2018 LC Corp entered into 32 lease agreements for 32,900 sqm office space, which is a new record for the company.
“2018 was exceptionally successful for the department of office investments. Not only did we lease a record amount of office space, but also we achieved remarkable speed of commercialization. After the Retro Office House had been completed in Wrocław, it was commercialized in 100 percent within just 6 months of receiving the occupancy permit. The Silesia Star, being one of the largest office complexes in Katowice, has an almost complete portfolio of tenants,” says Tomasz Wróbel, Member of the Board of LC Corp SA. “Companies appreciate the attractive location of our investments, modern solutions applied, original investment projects, as well as a flexible and individual approach to each tenant. Most of the offices that we lease are designed and finished in accordance with the requirements and guidelines of our tenants.”
Forecasts for 2019 for LC Corp office investments are also optimistic. In the third quarter of this year, another investment in Warsaw – the Wola Retro complex – is to be completed. With regard to the office map of Poland, this is a rare combination of the modernized pre-war building adapted to current office standards with the modern 14-storey class A office building. The complex was designed by architects from the Kuryłowicz & Associates Architectural Studio.
“Once our latest investment, the Wola Retro office building in Warsaw, is completed, we will cross the line of 150,000 m2 office space built. When adding retail space in the Sky Tower and Arkady Wrocławskie, in the third quarter of 2019, we will exceed the threshold of 200,000 m2 commercial space put into use,” says Piotr Pirogowicz, Director of the Commercialization Department at LC Corp SA.