CA Immo leases approximately 7,000 sqm of office space in Mississippi House office project, Prague
CA Immo has signed a lease with the international consulting company ADASTRA for 7,000 sqm of the Mississippi House office building, which is currently under construction. With this first pre-lease signed, around half of the Mississippi House total office space has been pre-let more than a year before its planned completion. CA Immo commenced the construction of Mississippi House and Missouri Park, two premium office properties in the River City Prague complex, in September 2019. The office complex will offer a total of 20,750 sqm of leasable space (13,380 sqm in Mississippi House and 7,370 sqm in Missouri Park) in the sought-after Karlín district of Prague. The two buildings are scheduled for completion in summer of 2021. CA Immo will be investing a total of around €66 m. ADASTRA was represented in this transaction by the real estate consultancy JLL.
In view of the very high occupancy rate of CA Immo’s Prague property portfolio, the strong demand for office space and the correspondingly dynamic price development in the city, this development represents an important strategic addition to the CA Immo investment portfolio on its core market of Prague.
To ensure the highest quality standards, CA Immo has initiated a WELL Core & Shell certification process (Platinum level) for both office projects. WELL Building StandardTM (WELL) is an internationally recognised standard for advancing health and well-being in buildings. Both buildings will also conform to the highest sustainability standards according to LEED Platinum level.
“We are a developer of high-quality office buildings, but we are also a landlord with a long-term perspective. That´s why we place a special emphasis on creating buildings and spaces in the best interests of future users. The high-calibre combination of WELL and LEED Platinum certification is our response to the tenant´s needs to provide a unique, attractive and healthy environment for their employees, co-workers and clients. It also signals our strong commitment to environmental protection. The high demand for our project validates our approach,” stated Andreas Quint, CEO of CA Immo.
Mississippi House and Missouri Park will complete CA Immo´s attractive River City Prague office complex, which currently comprises three high quality, class A office buildings (Amazon Court, Nile House and Danube House). Designed by Danish architectural studio Schmidt Hammer Lassen, both of the new buildings will complement the high architectural standards of the ensemble. River City Prague is located close to the city centre and right by the Vltava River in the sought-after Karlín district of Prague.
Mississippi House and Missouri Park will each have eight floors and two underground parking levels providing a total of 230 parking spaces. Bicycle parking spaces and showers are also planned. Among other things, the architectural concept includes landscaped terrace loggias, light-filled, flexibly usable office space and impressive entrance areas. The high energy efficiency of the buildings is ensured by intelligent lighting, CO2 monitoring, waste recycling, rainwater harvesting and heat pumps, among other measures. The quality of the site is also exceptional: the location right by the Vltava River with a view of Prague Castle, surrounded by green spaces and a quiet pedestrian zone, is unique. Restaurants, cafés and easy access to the network of bicycle paths and footpaths along the river bank further enhance the attractiveness. The Karlín district of Prague is a fast growing, established business district with excellent infrastructure and connectivity. For further information, please visit: www.mississippihouse.cz; www.missouripark.cz
CA Immo Czech Republic
The Czech asset portfolio of CA Immo consists of five office buildings in Prague, including the River City Prague properties of Danube House, Amazon Court and Nile House, the Kavčí Hory Office Park and the recently acquired Visionary office building. The book value of the Czech investment portfolio is approximately €361 m (around 8% of total the CA Immo portfolio); the properties are nearly fully let (95.8% occupancy rate as at 30 September 2019). All CA Immo office buildings in Prague have been awarded LEED or DGNB sustainability certification.
About CA Immo
CA Immo specialises in office properties in Central European capitals. The company covers the entire value chain in the field of commercial real estate: leasing, managing and developing projects based on a high degree of in-house construction expertise. Founded in 1987, CA Immo is listed on the ATX index of the Vienna Stock Exchange, holding property assets with a book value of around €4.9 bn.