The building, which offers approximately 11,500 sqm office space as well as an underground car park for around 170 cars, was realised under the terms of a joint venture between CA Immo and the GD&K Group, a leading Polish project developer, and completed at the end of 2014. Situated in the technology park at Aleja Jana Paw?a II, the largest office park in the city of Krakow, the class A office building forms part of the Krakow Special Economic Zone (SEZ). The location and facilities are specifically aimed at meeting the needs of Krakow’s booming Shared Service Center (SSC) and its Business Process Outsourcing (BPO) community.

According to Dr. Bruno Ettenauer, CEO of CA Immo, “Krakow continues to develop into one of Europe’s hot spots for information technology, IT-enabled services (or ITES) and biotechnology. The focus on this sector is creating valuable jobs by attracting businesses and international investors to the region and thereby establishing bright prospects for the local office market.”

Office building AVIA one of the first office buildings in Krakow which has been certified LEED Core and Shell Gold awarded by the US Green Building Council, ensuring an overall sustainable construction, energy efficiency and resource conservation.
Three IT companies have now signed leasing contracts and will in total cover some additional 5,000 sqm of floor space; the handover of the office units to the new tenants will start in summer 2015. The Polish bank BPH S.A and GE Healthcare took up residence as soon as the building was completed in December 2014; both organisations are part of the General Electric Group. BPH has brought together its Krakow-based operations across one and a half floors spanning 3,100 sqm of office space. GE Healthcare, which supplies medical engineering goods, is renting 2,400 sqm. On the ground floor, some 400 sqm are rented to the operating company of a bistro. The modern office building is therefore nearly fully let.

The Krakow office market

Krakow, the second largest city in Poland, specialises in business services. In 2015, it was the only European city to feature in the global top 10 best locations for business service projects and outsourcing (Tholons Ranking). The booming sector is attracting a qualified international workforce. Data for the office market is accordingly positive: despite increasing construction activity, the vacancy rate averages 6%, which is the lowest in Poland. Prime headline rents in the city have held firm over 2014 and now vary between € 13.9 and € 14.5/sqm per month (JLL: “Kraków Office Report").

About CA Immo

CA Immo specialises in office properties in Central European capitals. The company covers the entire value chain in the field of commercial real estate, from lettings and management to project development based on a high degree of in-house construction expertise. Founded in 1987, CA Immo – which is listed on the ATX index of the Vienna Stock Exchange – controls property assets of around € 3.6 bn in Germany, Austria and Eastern Europe.

About GD&K

GD&K Group is an experienced Polish developer founded in 1998 and covering two biggest local markets, namely Kraków and Warsaw. Additionally, the Group offers various real estate related services to external clients, mostly tenants and property owners around Poland that are active in the office, hotel, residential and public use space.

The most important focus of the development activity of GD&K Group is a rigorous selection of projects’ locations in Kraków and Warsaw, the two most dynamic Polish agglomerations. Only attractive sites and high quality projects are of Group’s interest. Group’s development projects are carried out by a dynamic and knowledgeable group of experts with experience in all real estate competencies. Our employees’ skills are very broad and compliant with the ‘’one stop shop’’ philosophy to ensure that all real estate processes are found ‘’under one roof’’ in our office.

Please address any questions to:
CA Immobilien Anlagen AG
Marion Naderer
Tel.: +43 1 532 59 07-592
www.caimmo.com