{"id":1004402600,"date":"2020-03-24T06:20:22","date_gmt":"2020-03-24T14:20:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004402600"},"modified":"2020-03-24T07:45:09","modified_gmt":"2020-03-24T15:45:09","slug":"skanska-sells-office-building-in-warsaw-106m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/skanska-sells-office-building-in-warsaw-106m\/","title":{"rendered":"Skanska Sells Office Building in Warsaw for $106M"},"content":{"rendered":"
\"\"<\/a>

Generation Park Z. Image courtesy of Skanska<\/em><\/p><\/div>\n

Skanska has sold the Generation Park Z office building in Warsaw to Deka Immobilien for \u20ac98 million, or about $105.6 million. The transaction will be recorded by Skanska Commercial Development Europe in the first quarter 2020, and the Polish office property<\/a> transfer is scheduled for the second quarter.<\/p>\n

\n

READ ALSO<\/strong>: City, State Officials Halt Commercial Evictions<\/a><\/p>\n

\n

The approximately 19,000-square-meter (204,500-square-foot) Generation Park Z is part of a three-building office complex in the fast-growing Warsaw City Center West submarket. The site, at 28 Towarowa St., is about two blocks from the Hilton Warsaw Hotel and Convention Centre.<\/p>\n

The building is fully leased to Vistra, a financial and corporate services company, and business consultancy Crido, among other tenants. Completed in the third quarter of 2019, the tower has achieved LEED Platinum pre-certification and is applying for WELL Core & Shell certification.<\/p>\n

Portland to Poland <\/h2>\n

A couple of recent deals illustrate Deka\u2019s wide reach and eclectic investments. In August, Deka acquired 6Y<\/a>, an 11-story, Class A creative office building in Portland. The 116,244-square-foot property, at 811 SW Sixth Ave., was Deka\u2019s first purchase in that city. In November, a Deka-owned hotel in Dublin was turned over to new managers. NH Hotel Group planned to rebrand the 187-key property<\/a> into the first Anantara Hotels, Resorts & Spas location in Europe.<\/p>\n

The Warsaw office market benefits from the fast-growing Polish economy, whose GDP is projected to rise by 3.1 percent in 2020, according to a January report from Savills. Office inventory in Warsaw totals 60.3 million square feet, with a further 8.5 million square feet under construction. The overall vacancy is 7.8 percent, which is down 90 basis points year-over-year. The City Center West submarket has an average vacancy of 4.6 percent on an inventory of 7.6 million square feet, again according to Savills.<\/p>\n","protected":false},"excerpt":{"rendered":"

A German institutional investor was the purchaser of the 204,500-square-foot Generation Park Z tower. <\/p>\n","protected":false},"author":882,"featured_media":1004402612,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21783,21742,21747],"tags":[37548,34107,32886,43601],"class_list":["post-1004402600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-international","category-investment","category-latest","category-office","tag-deka-immobilien","tag-savills","tag-skanska","tag-vistra-energy"],"acf":[],"yoast_head":"\nSkanska Sells Office Building in Warsaw for $106M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/skanska-sells-office-building-in-warsaw-106m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Skanska Sells Office Building in Warsaw for $106M\" \/>\n<meta property=\"og:description\" content=\"A German institutional investor was the purchaser of the 204,500-square-foot Generation Park Z tower.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/skanska-sells-office-building-in-warsaw-106m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-24T14:20:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-24T15:45:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Skanska-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/skanska-sells-office-building-in-warsaw-106m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/skanska-sells-office-building-in-warsaw-106m\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Skanska Sells Office Building in Warsaw for $106M\",\"datePublished\":\"2020-03-24T14:20:22+00:00\",\"dateModified\":\"2020-03-24T15:45:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/skanska-sells-office-building-in-warsaw-106m\\\/\"},\"wordCount\":310,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/skanska-sells-office-building-in-warsaw-106m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/03\\\/Skanska-1.jpg\",\"keywords\":[\"Deka Immobilien\",\"Savills\",\"Skanska\",\"Vistra Energy\"],\"articleSection\":[\"Deals\",\"International\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/skanska-sells-office-building-in-warsaw-106m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/skanska-sells-office-building-in-warsaw-106m\\\/\",\"name\":\"Skanska Sells Office Building in Warsaw for $106M - 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