Skanska has sold Nowa Fabryczna building in Lodz, Poland, to Niam for €52m. It is the developer’s second office project in the city, and the seventh Skanska property Niam has acquired in the Polish regional markets since 2015.
Nowa Fabryczna in Lodz’s New City Center was completed in the second quarter of 2017. The building offers over 22,600 m² GLA and is leased to prestigious international tenants such as Fujitsu, Whirlpool, Cybercom and McCormick. Skanska's third development in the city – Brama Miasta – is currently under construction.
The Nowa Fabryczna project is expected to receive LEED Gold certification. It will also be certified as a “Building without barriers” for its accessible design and inclusiveness for people with disabilities. It is located opposite the recently completed state-of-the-art Lodz Fabryczna train station – the third largest railway station in Europe.
Adrian Karczewicz, Head of Divestments at Skanska's Commercial business in CEE, said: "The Nowa Fabryczna sale is the third transaction we have made with Niam in Poland's regional markets since 2015. Lodz is a great example of a city focused on business growth which is illustrated by the record-breaking number of building permits issued in 2017. This attracts FDIs and reflects the high office space demand and absorption.
Fredrik Jonsson, NIAM CEO, commented: "We are happy to acquire another high-quality office building in Lodz’s attractive new city centre. We are confident that this building will complement our fund’s portfolio with strong cash flows and risk-adjusted returns."
Katarzyna Zawodna-Bijoch, President and CEO of Skanska's Commercial Development Business in CEE, said: "Last year Skanska sold seven buildings for over €360m. We leased 145,000 m² of space in ten CEE office markets, a 10% increase on 2016. Our top quality office assets are underpinned by leasing agreements signed with high-quality tenants. This kind of product matches the needs of the most demanding investors, such as Scandinavian funds."
Colliers with Cushman & Wakefield acted as the exclusive agent for Skanska. Legal advisers for the transaction were Linklaters for the purchaser and Dentons for the vendor.
