New tenants sign lease agreements in New City

Hines, the international real estate firm, signed two new lease agreements in the New City complex, located at Marynarska Street 15 in Warsaw.

The total office space of the signed agreements exceeds 1,273 sqm. Additionally, the current tenant of New City has decided to extend occupied office and retail space, which will take nearly 1,400 sqm in the new configuration. New City office complex belongs to the Hines Global REIT fund managed by Hines Polska.

The first of the companies to move into the New City building at the end of April 2018 will be Valeo Service Eastern Europe Sp. z o.o., an international group specializing in the design, manufacture and sale of automotive parts and systems. The company belongs to the leading largest manufacturers of automotive spare parts. In the New City, its new office will occupy nearly 1,000 sqm of office space, on the fifth floor of the building. The contract was signed for a period of seven years. The tenant was represented by Colliers company in the negotiation process.

The second new tenant – Xiaomi H.K. Ltd, manufacturer and distributor of electronic devices such as mobile phones and accessories, rented approximately 300 sqm of office space on the fifth floor of the building. The New City complex was chosen by the tenant as the location for company’s first office in Poland.

Additionally, Fabryka Okularów Sp. z o.o decided to extend occupied office and clinic space located in the New City complex. In total, after the expansion, the company will occupy nearly 1,400 sqm of office and retail space. Throughout the negotiations, Fabryka Okularów was represented by the Walter Herz consulting firm.

“Acquiring two new tenants in a time of a very competitive real estate market shows that the New City building remains an attractive location for companies. The excellent exposure of the complex, proximity of the nearby tram and bus stops, and access to the guests and tenants parking lot made an impact on such a choice. The quality of office space and professional management in the New City complex co-creates a friendly and comfortable working environment that is appreciated by tenants,” said Julia Racewicz, Asset Manager at Hines Polska.

About New City

The office complex composed of two buildings: New City and New City 2, with total area of over 44,000 sqm, is located at Marynarska 15, in the centre of the office district in Mokotow – the largest business district in Warsaw. The facility is located in the direct vicinity of the junction connecting the four major roads of Mokotów: Aleja Wilanowska and Marynarska, Woloska and Rzymowskiego Streets. New City is the only facility in this section of Mokotow that has entrance roads from three sides (from Marynarska, Cybernetyki and Postepu). 

Source: Hines Polska

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Written by: Monica Zielinski