A fund managed by US group Hines has acquired a centrally located plot of land in Warsaw for the development of a 42,000 m2 office building.
A fund managed by US group Hines has acquired a centrally located plot of land in Warsaw for the development of a 42,000 m2 office building.
The vendor of the site was bank BPH, advised by CBRE Development Consultancy Team.
The asset provides 13,310 m2 and is located near the Rondo Daszyñskiego new metro station currently under construction.
The site already has a zoning approval permit in place which allows for the construction of a multi-phase office project of up to 42,000 m2.
'This part of the city is now undergoing dynamic transformation, mainly due to strong activity from developers,' commented Pawe Nowak, consultant with CBRE Development Consultancy Team. 'Based on our company’s forecasts, this is the direction where Warsaw’s Central Business District will grow,' he added.
