Skanska to Complete Polish Office Campus
- Feb 06, 2020
High5ive, Skanska’s largest office development in Krakow, Poland, will be completed by late 2021 with the fifth and final building in the complex set to begin construction in April at a cost of approximately $31 million, or € 28 million. The third phase of the office complex built by the Swedish-based development and construction company consists of one building with about 120,000 square feet, or 11,150 square meters, of leasable space.
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The building will be Skanska’s first WELL-certified office building in Krakow and will also be certified by LEED Platinum and Building without Borders standards.
When completed, High5ive will have five office buildings totaling about 753,475 square feet, or 70,000 square meters. ABB, PwC, Accenture and Business Link, the biggest flexible office space chain in Poland, are among the tenants in the completed buildings. The complex is centrally located next to the main railway station, Galeria Krakowska and near universities. Skanska said in previous announcements about the High5ive complex that it has a concierge, diverse food offerings and services for cyclists, including bicycle stands, electric bike charging stations, shower, changing rooms and repair stations. The buildings have advanced air purifying filters.
The first buildings in the complex were completed in 2018. In September, Skanska sold two of the buildings in High5ive as part of a three-building office portfolio transaction in Krakow and Wroclaw, Poland. The three buildings, the Nowy Targ building in Wroclaw and two High5ive buildings, one set to deliver in late 2019 and one to be completed this quarter, were purchased by real estate funds managed by Credit Suisse Asset Management Global Real Estate for $ 235.3 million, or € 214 million.
More European deals
Elsewhere in Europe, Skanska is constructing a new building for the Faculty of Science at the University of Gothenburg in Gothenburg, Sweden, for landlord Akademiska Hus. It is scheduled for completion in the second quarter of 2023. The $130 million project includes two seven-story sections of a building and a connection point made up of an atrium and meeting rooms.
In June, Skanska reached an agreement with German investor HANSAINVEST Real Assets to sell a major office development in central Helsinki for €135 million, or approximately $152 million. The transaction for the 190,000-square-foot project is scheduled to be completed this month about the same time the tenant, the European Chemical Agency, moves into the new space.