Spark C Sold For EUR 48 M

Spark C: Warsaw Office Building
Skanska sells the first building of the Spark office complex for EUR 48 m. The purchaser is KGAL fund.

The Warsaw Spark C office building is purchased by KGAL Investment Management GmbH & Co. KG. This is the first transaction of the investor from Germany on the Polish office market. Skanska was represented by Dentons, Colliers International and Cushman & Wakefield whereas KGAL was represented by Greenberg Traurig, LLP, Savills and Arcadis.

Spark C is the first out of three office buildings of the complex. The investment offers ca. 13 000 sq. m of leasable space. It’s leased in over 80%. The main tenant of Spark C is Grupa Skanska in Poland.

Warsaw proved on the international arena how effectively may the location attract international corporations which tend to locate their more and more advanced business operations in the city. Companies place their faith in Poland and qualified Polish experts. Following large businesses, new investors such as KGAL are entering the market. They search for the best and safest property assets sold by a stable partner. They need a guarantee of the right returns from their investments. We’re satisfied that the new investor appreciated our office project and decided to enter the Polish market by making this purchase – says Arkadiusz Rudzki, Managing Director at Skanska. 

We’re really satisfied with closing the purchase transaction concerning this exceptional and recently completed investment situated in the city center. Considering the attractiveness of the Warsaw office market, we expect further strengthening of our results and satisfying the growing demand for new investments – says André Zücker, Managing Director at KGAL Investment Management of GmbH & Co. KG.

Spark is the first office building in the CEE region that is integrated with mobile application and web platform by the operational system. This project involves such solutions as PropTech – Connected by Skanska. Two other facilities are activity based parking that recognizes number plates and assigns parking as well as virtual reception desk that allows for entering the building by using your smartphone. Skanska invested ca. EUR 1.5 m in technologies, innovations and infrastructure in the project. Spark C will be awarded LEED certificate at the Platinum level. The office building meets the requirements of "Building With No Barriers" certificate. Spark C will be the first office building of Skanska in the CEE region which is to be awarded WELL Building Standard certificate by the end of this year.

 


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