Echo Investment celebrates successful year in its office unit
The developer signed 75 lease agreement for the total area of over 100,000 sqm.
EY, Nokia, Philips, HCL, McKinsey, Deloitte, Apsys, Epam are among the companies that last year decided to choose Echo Investment’s office buildings for their headquarters. Six other buildings, also with the total area of over 100,000 sqm, are currently under construction and all of them have already secured the final buyers.
As early as in 2015 the office leasing department leased over 50,000 sqm. However, in 2016 the company’s expansion accelerated and since then the annual lease is at about 100,000 sqm. Fast growing BPO/SSC sector is the driving force behind the office sector in Poland.
“Poland has become a supplier of much more advanced services than call centers that were emerging more than 10 years ago. Our customers now are companies from R&D and IT sectors, as well as modern technologies. Gdańsk-based Tryton Business House is a good example of a project that succeeded to accumulate the biggest number of new tech companies. During last year alone, the lease agreements were signed by such companies as Ciklum, IT Kontrakt, and Networked Energy Services,” says Rafał Mazurczak, Echo Investment’s management board member supervising office department.
The company closed last year by selling Nobilis office building in Wrocław to Catalyst fund and the second stage of O3 Business Campus in Krakow to EPP. Currently, Echo has six buildings under construction and each of them has already secured the final buyer. These are Wrocław-based Sagittarius (the company has a preliminary sale agreement with Warburg HIH Invest funds) and West Link (to be sold to Griffin Premium RE..) as well as Krakow-based O3 Business Campus III and Łódź-based Symetris II (with preliminary agreements with EPP). The list also includes Browary J and Beethovena I in Warsaw, with Griffin Premium RE.. holding the rights of the first offer.
“Thanks to broad experience and hard work of our team, Echo enjoys its business partners’ trust. Companies that invest in office buildings have confidence in Echo and are ready to close agreements as early as a development stage, in order to secure good properties as early as possible,” adds Mazurczak. “Fast sale of completed projects is a part of our profitable growth strategy.”
Source: Echo Investment