6 May 2021
M7 Real Estate lets c. 1,600 sq m of office space at Mokotów Plaza, Warsaw
M7 Real Estate (“M7”) the pan-European investor and asset manager specialising in multi-tenanted properties announces that it has let a total of 1,605 sq m in Mokotów Plaza to three existing tenants under new leases, maintaining the office building as their Polish headquarters. The office now has an occupancy of 81% with an average unexpired lease term of over 7 years.
As part of the active asset management of Mokotów Plaza, to facilitate the recent letting to SDI over the entire third floor, two existing tenants were relocated within the building. Rockwool moved to the first floor taking 370 sq m on a five year lease and Telepizza, who have been in the building since 2009, extended their lease for three years moving to the ground floor and taking 235 sq m.
In addition, KCR who have also been a tenant since 2009, extended their lease for another five years on 1,000 sq m.
Patrycja Palma, Asset Manager at M7 Real Estate Poland commented, “Since acquiring the asset in 2019, we have focused our asset management strategy on increasing the occupancy of the building. Part of this approach has been to develop good relationships with the existing tenants, gaining an understanding of their requirements which has helped facilitate these new lettings.
“The building is now over 80% occupied for the first time in its history and we look forward to further increasing the occupancy in the coming months.”