PATRIZIA Immobilien AG has finalized the sale of its Atrium International office building on Jana Pawła II Avenue in Warsaw to STRABAG Real Estate. This is a very attractive investment location on the capital’s market, as the local development plan allows for the construction of an office tower with a height of up to 135 meters. Experts from the international advisory agency JLL represented the vendor in the transaction process.
Atrium International is a six-storey office building, offering a leasing area of over 12,000 sqm. The building’s central location means that it is well-served by public transport with the Rondo ONZ metro station and numerous tram and bus routes nearby. A major railway terminus, Warszawa Centralna, a number of hotels as well as a wide range of restaurants and shops are also in the vicinity.
“The Central Business District is one of the most prestigious investment locations in Central and Eastern Europe. This is the business heart of the region, where leading players from the banking, finance and modern technologies sector are increasingly willing to relocate. Due to the very limited supply of land on the Warsaw market, sometimes the only opportunity for the development of an office project is to purchase an older building for modernization or extension. This approach is now being increasingly adopted by more and more international companies investing in Warsaw, and is set to become one of the most significant trends in both the investment land and other investment properties sector within the next few months,” commented Daniel Puchalski, Head of Land Advisory Services, JLL