Credit Agricole signs lease agreement at Business Garden in Warsaw (PL)

Credit Agricole Bank has signed a lease agreement with SwedeCenter, the investor and developer of the office complex Business Garden in Warsaw. The agreement regards the lease of approximately 4,000 m² of office space on two floors of the second building in the first phase of the investment, which is due to be finished in autumn this year.

During the negotiations the tenant was represented by CBRE, real estate advisor.

"The negotiations with potential tenants have reached an advanced stage. The design and lay-out is being appreciated by office occupiers and we expect to finalize further transactions soon," said Roger Andersson, the Country Manager of SwedeCenter.

"We are very glad that Credit Agricole – an undisputed leader in retail banking chose CBRE as its consultancy company in the process of the consolidation of offices in Warsaw. We negotiated attractive and favorable terms of lease for our client.

"We are certain that Business Garden will provide excellent environment and services to employees as well as bank's clients," said Joanna Kalinowska, Associate Director, Office Agency-Tenant Representation, CBRE.

Business Garden Warsaw, a flagship office investment of SwedeCenter, is located at the crossroads of Zwirki Wigury and 1 Sierpnia Streets in Warsaw. Upon completion, the office complex will have more than 90,000 m² of office, hotel, conference, trade and services space, spread over in seven buildings.

The first phase of investment consists of two buildings offering a total of around 33,500 m². The first office building includes around 15,400 m² of office space, eight conference rooms, a business hotel with 200 rooms, a restaurant, a café, shops and services units.

The second building provides another 18 000 m², designed exclusively for office use. The completion of the first stage of development is planned for Q3 2012. Construction on similar Business Garden developments in terms of size and location are due to start in Poznan and Wroclaw shortly.

Source: SwedeCenter

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