Brno-based real estate developer PSJ Invest said that it has completed one of the largest deals in the Czech office property market with the leasing of 20,000 m[sup]2[/sup] of office space to Kooperativa Pojistovna, part of Vienna Insurance Group. The insurance firm has taken a large majority in the builder's Main Point Karlin project in Prague. Jones Lang LaSalle advised Kooperativa Pojistovna on the transaction.
Brno-based real estate developer PSJ Invest said that it has completed one of the largest deals in the Czech office property market with the leasing of 20,000 m2 of office space to Kooperativa Pojistovna, part of Vienna Insurance Group. The insurance firm has taken a large majority in the builder's Main Point Karlin project in Prague. Jones Lang LaSalle advised Kooperativa Pojistovna on the transaction.
Designed by architects Dam and Petr Malinský Architektonická, the scheme will be developed by PSJ Invest over the next 18 months and will offer 36,000 m2 of office space on completion.
'The closing of this transaction between Kooperativa Pojistovna and PSJ Invest is remarkable news for the Prague office market,' said Eduard Forejt, head of JLL's Office Agency in the Czech Republic. The property services firm began the search for Kooperativa's new headquarters in 2008.
He added: 'A two-year search period for this size of an occupier is not unusual, considering the fact that around 30 projects were included in the selection process and each and every one of them had to undergo close scrutiny.'
