(WARSAW) – Hines, the global real estate investment, development, and property manager, announced that a new tenant, IT company Tata Consultancy Services (TCS), has moved into the Wola Center in Warsaw. At the same time, the building's owner, Hines European Value Fund (HEVF 1), has extended its contract with long-standing client FaktorOne.
A long-term agreement with TCS was signed in Q4 2023. The new tenant has leased more than 3,650 sq m of office space. Arrangement work has been underway in recent months and the tenant's logo was hung on the top of the building at the end of May. Tata Consulting Services is India's largest IT company, present on the Polish market since 2006. It creates IT business solutions based on, among other things, cloud technologies or artificial intelligence, and provides IT consulting services for businesses.
Hines has also recently extended its contract with one of Wola Center's long-standing tenants. FaktorOne (formerly Idea Money) has been based at 33 Przyokopowa Street since 2012. The new long-term contract covers the lease of approximately 470 sq m. The company has been providing factoring services to small and medium-sized companies and sole traders from various industries for over a decade.
Patrycja Zyśk, Leasing Manager at Hines Polska, says: “Recent contracts for the lease of space in Wola Center confirm the interest in the high standard of office space from our offer. The extension of the contract with a long-standing tenant, FaktorOne, is proof that we care about the satisfaction of our clients and the quality of the services we provide. In turn, the transaction with Tata Consulting Services proves that Wola Center is an excellent place for innovative companies and an ideal environment for the development of modern technologies. All of this shows that Wola Center remains an attractive option for businesses in Warsaw's ever-growing business district”.
The Wola Center complex is well located at 33 Przyokopowa Street in Warsaw's Wola district. Thanks to its proximity to an important traffic junction, the underground and the Warsaw Ochota railway station, it is well connected to other districts of the city and the suburban towns. The building offers office, coworking and retail space with a total area of 34,930 sq m. The tenants have first-class amenity outlets at their disposal including an elegant patio, green terraces, and extensive infrastructure for cyclists, including racks and showers. Wola Center also provides a car park with 121 spaces for the general public and 249 spaces reserved for tenants. What is more, EV charging stations are installed to enhance the experience in the building. The building meets international environmental standards, as evidenced by the BREEAM In Use „Outstanding” certificate awarded in 2023.
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a €93.2B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 857 properties totalling 270 million square metres globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
1Includes both the global Hines organization as well as RIA AUM as of June 30, 2023.
About Hines European Value Fund 1 (HEVF 1)
HEVF 1 was the first fund in the HEVF series, with the objective to secure and invest in value-add real estate throughout Europe on behalf of institutional investors. HEVF 1 is a closed-ended Euro-denominated, Luxembourg-based investment fund that launched in July 2017. It held its final close in 2018 and the total fund size exceeded €720 million of equity commitments, surpassing its original target by more than 40 percent. HEVF 1 successfully secured 9 investments across Europe and is now focused on execution and disposition of these assets. Rebranded as Hines European Real Estate Partners, the flagship HEVF series for Hines in Europe has a geographic mandate across the European Union and has the flexibility to invest in logistics, living, office, retail and mixed-use opportunities in institutional markets.