Second Cross Point building finished
Office & mixed-use developmentTen months after the construction work began, the Mermaid group subsidiaries involved in the project obtained the occupancy permit. A third building, which is currently under construction, should be ready at the end of September or early October. Cross Point is situated at the junction of ul. Milionowa and al. Rydza Śmigłego in the Widzew district in the city. Building A, which was completed in 2010, has an area of app. 13,000 sqm and is 100 pct leased to tenants including Nordea Bank AB, PKO Leasing, Ernst & Young, Raiffeisen Polbank, TU Compensa and TVN.
The complex was the Eurobuild Office Building of the Year 2011 and also won the award for the best office manager in 2011 and 2014. Due to the substantial interest among current tenants and the favourable situation on Łódź market, the developer started the construction of another two phases of the project in April 2016.
“The building that has just been completed is in the north-eastern part of the Cross Point complex, on the corner of ul. Milionowa and ul. Tatrzańska. It has six above-ground floors with a combined area of 3,400 sqm, as well as a reception, a number of technical rooms and parking spaces on the ground floor. Altogether there are five office floors with an area of app. 650 sqm each. At the request of one of the tenants – Nordea AB – the building has been equipped with an above-ground connector, through the tenant’s offices in building A can be accessed,” explains Radosław Sieroń of the Mermaid group.
The construction of the second of the new buildings is still in progress. The seven-storey building is located in the north-western part of the complex, on the corner of al. Marsz. E. Śmigłego-Rydza and ul. Milionowa, and will have an area of 6,200 sqm. It is currently 50 pct leased, also to Nordea. The shell stage is now complete and the finishing work is underway. After the completion of the second new building, the complex will comprise more than 23,000 sqm of office space in the three buildings. Stock-exchange listed Mostostal Warszawa is the general contractor for both buildings. The design work for the fourth stage of the complex is already in progress.
The investors behind the projects are Mermaid group subsidiaries Cross Point and Cross Point B, while the developer is Mermaid Capital. Bank Zachodni WBK has provided the financing for each stage so far.
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