Polski Holding Nieruchomości S.A. and Polimex Mostostal S.A. have signed an annex to the lease agreement for the KASKADA building at Al. Jana Pawła II 12 in Warsaw. The agreement extends the cooperation between the parties for several years, while the space occupied by the tenant will grow to over 6,000 sqm. As a result of the deal, the building has reached 100% occupancy.

Polimex Mostostal S.A. has increased its leased space in the building by nearly 1.9 thousand square meters, remaining one of the building's key tenants and a long-time business partner of PHN.

“Achieving full occupancy of the KASKADA building and extending the cooperation with Polimex Mostostal S.A. confirms the attractiveness of our office portfolio and the effectiveness of PHN’s actions related to office space commercialisation. This is another agreement executed recently to extend our existing cooperation with a long-standing business partner, which shows that tenants appreciate both the quality of the space we offer and the long-term cooperation model implemented by PHN,” said Jacek Krawczykowski, Vice-President and Member of the Management Board for Investments at Polski Holding Nieruchomości S.A.

The agreement also provides for redesign work, in particular in the area covered by the expansion, in order to adapt the space to the tenant’s current needs.

“Signing an annex to the lease agreement and increasing the space we occupy in the KASKADA office building is a natural consequence of the development of the Polimex Mostostal Capital Group and the growing scale of our operations. The choice of this location is not accidental – we appreciate its central location and very good transport accessibility, which boosts our teams’ efficiency. The long-standing cooperation with Polski Holding Nieruchomości is based on partnership and mutual trust, so we are delighted to continue working together,” said Jakub Stypuła, President of the Management Board at Polimex Mostostal S.A.

KASKADA is an office building offering more than 17,000 sqm of leasable space, located in the very center of Warsaw, directly at the Rondo ONZ subway station, in the vicinity of the Central Railway Station and the Zlote Tarasy shopping mall. The facility provides convenient access to public transportation and well developed infrastructure for business and services.

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About the PHN Group

Polski Holding Nieruchomości S.A. is one of the largest groups in the Polish commercial property sector in terms of the market value of its portfolio. PHN Group has a diversified business profile – it is primarily active in the office, residential and logistics markets. PHN Group’s portfolio comprises more than 150 standalone properties with a market value of approx. PLN 3.5B. PHN Group provides comprehensive rental and management services – it currently manages more than 500,000 sqm of leasable space. PHN Group owns about 270 hectares of land earmarked for projects in various market segments. PHN Group is also active in the construction sector – by providing general contracting, subcontracting and design services, as well as in the development sector as an investor – by carrying out projects related to the construction and sale of residential units and the construction of commercial buildings. PHN Group’s main market is Poland. PHN’s activities in the rental segment are concentrated primarily in Warsaw and the largest regional cities, including the Tri-City, Poznań, Kraków, Katowice, Łódź and Wrocław. Since 13 February 2013, PHN’s shares have been listed on the Warsaw Stock Exchange.