CMS advised the developer, Garvest Real Estate, on the sale of the Pixel office building in Poznań.
The building was bought by Globe Trade Center in a EUR 32.2 million deal.
With its 14,500 square metres and a distinctive form designed by JEMS Architekci, Pixel is located in at ul. Grunwaldzka 182 in Poznań and is wholly occupied by the Allegro Group.
For CMS, the sale of the Pixel office building was the second transaction in the Poznań office property market in the last few months (the Firm was also engaged by Bluehouse Capital Advisor in the acquisition of the Malta House building in Poznań).
“Investors’ interest seems to have been shifting towards regional office property markets in Poland for some time and it looks like this trend is here to stay. High quality assets in regional cities may be an interesting alternative considering that, with a growing supply of office space in Warsaw, owners may find it more and more difficult to obtain attractive leasing terms for their office space” – says Wojciech Koczara, partner heading the CMS Real Estate and Construction Practice in Poland and CEE.
The Firm’s involvement in the Poznań transaction included advising on the negotiations of the sale agreement.
The CMS team advising Garvest Real Estate on the sale of the property included: Wojciech Koczara, partner in the Warsaw office and head of the CMS Real Estate and Construction Practice in Poland and CEE, and Mateusz Wosiek, associate in the CMS Real Estate and Construction Department.