The European Property Investors Special Opportunities 3 LP (EPISO 3) fund and the Avestus Real Estate company conducted an agreement concerning purchase of the Enterprise Park office structure in Cracow. Capital Market Group owned by Cushman & Wakefield acted as an agent in the sale.
Enterprise Park is an office park class A with a planned gross leasable area (GLA) of over 50 000 sq. m. It is composed of three buildings with the area of 29 462 sq. m, in which such companies like Cisco and Delphi have signed long-term lease agreements. At present, another structure with the area of 5867 sq. m is being realized and it has been already fully rented.
It is one of the biggest transactions on the office property market in Poland this year. It demonstrates a strong increase in activeness of institutional investors in regional cities. The great demand on the lease market and increasing fluidity cause that the cities like Cracow are becoming a very attractive objective for investors – said James Champan, partner and chairman in Capital Market Group in Central Europe in the Cushman & Wakefield company.