Warsaw, 12 September 2012 — The Warsaw Trade Tower is to be put up for sale, announced by representatives of Akron Investment Central Eastern Europe II, a closed-end fund which acquired the property in 2006. Property agents Colliers International and Jones Lang LaSalle have been co-exclusively mandated to handle the sale process.
The Warsaw Trade Tower, an iconic asset located in the northwest sector of Warsaw's city center, provides over 45,000 square meters of Class A office space and rises 43 levels or over 208 meters, making it the tallest office building in Central Europe. The property is home to major international office tenants including KPMG, American Express, Mattel and AXA, who recently renewed its lease through 2020. The Warsaw Trade Tower, which was delivered in the year 2000 and designed by renowned US architectural firm RTKL Associates, will benefit tremendously from Warsaw's new east-west metro line when it opens in 2014.
"Given the prominence and excellent quality of the Warsaw Trade Tower, we anticipate good interest in the sale process," said Tomasz Trzoslo of Jones Lang LaSalle who, together with Neil Gregory-Eaves of Colliers International, will handle the sale process.
"The compelling combination of Poland's ongoing economic growth and Warsaw's low city center office vacancy rate supports the WTT offering," added Gregory-Eaves. “The property is one of the few core office assets currently for sale in the city center”.
The Warsaw Trade Tower offering follows on the heels of the announcement that a joint venture between Allianz Real Estate and Tristan Capital Partners will acquire the Warsaw Financial Center, which was also marketed for sale by the same team of agents.