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Millennium still in Harmony

Rafał Ostrowski 13 April 2018

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

Millennium still in Harmony
Harmony Office Center is a class A office development in Warsaw’s Mokotów distr

POLAND Bank Millennium has prolonged its 7,500 sqm lease in one of the buildings of the Harmony Office Center second stage on ul. Żaryna in Warsaw’s Mokotów district until 2030. Knight Frank represented Spanish investment fund Azora Europa, which owns the building, while Cushman & Wakefield represented the tenant.

This is not the only large agreement that the bank has signed recently for space on ul. Żaryna. Last year the tenant prolonged its 18,900 sqm lease in the first stage of the complex in three buildings that are owned by Commerz Real.

“The transaction signed with Azora Europa concludes the final stage of the Bank Millennium head office project in Warsaw, which includes a total of over 26,400 sqm. We are delighted with the results of the project. It was the Bank’s priority to ensure the comfort of its employees while optimising costs, but not at the expense of the location or quality of the building,” said Paulina Misiak, a partner at Cushman & Wakefield, who represented Bank Millennium throughout the negotiations.

“Naturally, various options were considered during the negotiations. But, apart from the obvious financial incentive, we also took into account the opinions of our employees who were strongly favoured staying at our current location because of its proximity to the metro station and Pole Mokotowskie park. There are restaurants and bars nearby, as well as a post office, a pharmacy and a health clinic,” says Ivo Novo, the head of administration and infrastructure at Bank Millennium, explaining the board’s decision.

Harmony Office Center, which is also known as Millennium Park, is a class A office development in Warsaw’s Mokotów district.


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