PZU’s Lease Agreement in Generation Park Y

DLA Piper has advised Grupa PZU on the deal.

Grupa PZU, one of the largest financial institution in Poland and CEE, executed the lease of 47,000 m² of office, retail and warehouse space, in Generation Park Y.

Located at the Daszynski Roundabout in Warsaw, Generation Park Y is a 140-metre building with 38 overground and four underground floors, 187 bicycle spaces, 325 parking spaces with electric car charging sockets and a high-rise green terrace with a view over Warsaw city centre. Generation Park Y is due to be completed in the first quarter of 2021 with finishing works of the lease space due for completion in the second quarter of 2022 when the space is scheduled to be delivered to PZU Group.

The total estimated value of the lease contract over its ten-year term is approximately PLN787 million gross and additional costs associated with the relocation are approximately PLN65 million gross.

DLA Piper acted for the negotiations of the lease agreement with a team including Agata Koczorowska (Senior Associate) in cooperation with Jacek Gizinski (Head of Real Estate Practice; Picture).

Involved fees earner: Jacek Giziński – DLA Piper; Agata Koczorowska – DLA Piper;

Law Firms: DLA Piper;

Clients: PZU;