Completed last month, Building F was developed by a joint venture of Quinlan Private Golub, Heitman Central Europe Real Estate Partners (HCEPP) and GE Real Estate at a cost of approximately $21 million (euros 16 million). Quinlan Private Golub has the leasing assignment. Both tenants were represented by Cushman & Wakefield.
A source familiar with the transaction tells GlobeSt.com that both Johnson & Johnson Poland and Janssen-Cilag Poland each signed long-term leases, which in Poland are typically between 60 and 72 months. While the negotiated lease rate was not released, the average asking triple-net lease rate for space in the building is 14 euros per square meter per month.
New Jersey based Johnson & Johnson and its 200 operating companies are multi-national manufacturers of pharmaceutical, diagnostic, therapeutic, surgical, and biotechnology products, as well as personal hygiene products. Janssen-Cilag is its prescriptions medicines arm.
Johnson & Johnson Poland leased the 30,139-sf third floor of Building F as well as 8,611 sf on the ground floor. Janssen-Cilag Poland leased the entire second floor. Other tenants already leasing space in the building include Lafarge (30,140 sf), Carlsberg (28,847 sf) and Schneider Electric (25,000 sf).
Building F is the largest of the five existing buildings within the Wisniowy Business Park complex. Michal Melaniuk, leasing and marketing director for Poland at Quinlan Private Golub, says he expects the building will be 100% leased by the end of the second quarter.
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