GE Buys 172,000-SF Poland Office

WROCLAW, POLAND-Continuing to add to its holdings in Eastern Europe, GE Real Estate Central & Eastern Europe has made its first acquisition in one of Poland’s regional cities. The company purchased a 172,000-sf class A office building in Wroclaw from Archicom Projekt 7. GE Real Estate completed the transaction using 100% equity. The amount of the transaction was not disclosed.

The seven-story building is on the edge of Wroclaw’s city center. It currently has 10 international and domestic tenants, including Nokia, Siemens and BRE bank and is 82% leased. The ground level includes a restaurant and retail space.

Wroclaw is Poland’s fourth largest city and one of the country’s fastest developing economic centers. The city has a population of approximately 640,000 and continues to develop through the relocation to Wroclaw of a range of blue-chip companies. The building is situated on Wroclaw’s main arterial road, offering access to both the city center and its international airport, which are both within 10 minutes of the site.