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Echo Sells Office Complex, Plans Mall

WARSAW-The developer plans to build Outlet Park Szczecin, and has sold Athina Park here for $43 million to Pridehold.

By Allan Saunderson | Updated on September 27, 2010

WARSAW-Locally-based Echo Investments sold its Athina Park office park in Warsaw to the Polish PZU group company Pridehold for more than $43 million. The four-building complex with total GLA of 140,000 square feet is leased by firms including Roche, Colgate and Deutsche Leasing. Echo’s second office disposal this quarter, it is also the biggest Polish investment transaction between a local vendor and purchaser, enabling Echo to conduct negotiations faster in Polish.

Separately, the developer is to build Outlet Park Szczecin in the southern Polish city, the first facility of this type in the Pomeranian province.

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