Skanska Signs Biggest Lease Ever in the Company's History at Generation Park Y, a Skyscraper in Warsaw, Poland

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Jun 30, 2020, 09:16 ET

ÖSTERSUND, Sweden, June 30, 2020 /PRNewswire/ -- Skanska has signed a 10 year lease with the insurance company PZU Group for 47,000 square meters office space and in addition 325 parking lots in the skyscraper office building, phase III of Generation Park in Warsaw, Poland. The tenant will start to take occupancy in the second quarter 2022. With this lease the building is now 98.5 percent occupied. This is the largest office lease agreement in terms of square meters in Skanska's history.

Generation Park will comprise of three office buildings with total leasable area of around 87,000 square meters of offices and retail space and in addition several parking lots. The project is expected to receive LEED Platinum, WELL and Building without Barriers certifications. Generation Park will be Skanska's largest office development project in Warsaw and include the company's first office skyscraper in Central and Eastern Europe.

Construction of Generation Park Y, phase III of the complex, started in November 2018. Shell and core completion are expected in the first quarter of 2021. The fit out works for the tenant will commence and be completed in the second quarter of 2022, which is also the date for moving in.

Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has operations in building construction and civil engineering in Poland, Czech Republic & Slovakia and the UK. Skanska develops commercial properties in selected home markets in Poland, Czech Republic, Romania and Hungary, while residential development is active in Poland, Czech Republic and in the UK with the BoKlok concept. In 2019, Skanska had sales of SEK 33 billion and about 11,700 employees in its European operations outside the Nordics.