The seller consisted of three subsidiaries of Globe Trade CentreSA. The locally headquartered company is rebalancing its Polandportfolio by selling mature assets in Warsaw in order to fund newdevelopments in Warsaw and other large cities in the county.

GTC earlier this month broke ground for Platinum Business Park,a 97,000-sf office park located across the street from the one itsold to the Heitman fund. GTC also is developing projects inKraków, Poznañ, Wroc³aw, £ódz, Czêstochowa and Katowice.

While occupancy in the Mokotow Business Park was not immediatelyavailable, office vacancy rates in major Polish cities currentlyrange from 1% to 7%, according to published reports, and the demandfor class A office space has increased in recent months. As aresult, the Heitman fund managers are betting that lease rates forclass B properties like Mokotow Business Park also will rise.