The EuroCash building will be ready for occupancy in November. The build-out includes 51,612 sf (4,795 sm) of office space. The development site is situated at the south-west edge of Poznan, next to the A-2 highway that runs from Berlin to Warsaw. The building marks the first phase of a larger logistics centre development GRIE is developing called Tulipan Park.
Speaking from his office in Warsaw, GE Commercial Finance Real Estate managing director Karim Habra tells GlobeSt.com the lease is longer than 10 years. He declined to reveal the negotiated lease rate, but acknowledged that it would be lower than the going rate in Warsaw, which ranges between $4.50 and $5.50 per sf per month.
The asset will be GE Commercial Finance Real Estate's only warehouse in Poznan. The company also owns business parks in Warsaw and Prague and has a portfolio of 19 shopping centers in the Czech Republic, Poland and Bulgaria, says Habra.
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