CA Immo Poland records increase in leasing activity and successfully launches green lease initiative in 2022
CA Immo has concluded 45 lease agreements with a total of nearly 29,000 sqm of office space in Warsaw in the past year, 20% of which in the fourth quarter of 2022. Based on the Group's international net zero initiative, the company has also introduced a green lease initiative in 2022, governing mutual commitment of landlord and tenant to optimize sustainable building operations. Since May 2022, 23 green lease agreements have already been concluded.
CA Immo, whose Polish portfolio comprises eight high-quality office properties with a total of over 156,000 sqm of leasable area, located mainly in Warsaw's Central Business District, recorded greater momentum in leasing activity and a return to pre-pandemic levels during 2022. Last year, for example, almost half of the space in the Warsaw Spire C office building was newly let or leases were extended; five companies signed contracts for a total of 10,000 sqm of office space in this building alone. The overall economic occupancy rate in CA Immo's Warsaw portfolio was 93% at year-end 2022. In total, CA Immo renewed contracts for more than 21,000 sqm of lettable space in its Warsaw buildings in the previous year. New leases or space extensions were agreed for an additional 8,000 sqm.
Andrzej Mikołajczyk, Managing Director at CA Immo in Poland: „Our good leasing result for 2022 shows that centrally located properties offering high-quality, sustainable office space, managed by a proven, reputable partner continue to be attractive for tenants. Through the ongoing modernisation of our buildings and the invitation to our tenants to participate in our ESG initiative for environmentally and climate-friendly building operation, we are successfully building long-term relationships with our clients. Our green lease initiative has been extremely well received by our tenants as it creates a win-win-situation: We can manage the whole building efficiently and climate-friendly, and our tenants can reduce their operating costs, at the same time setting a strong example for sustainability."
The introduction of "green leases" is a novelty on the Polish market, with which CA Immo stands out from other landlords. Both tenants and landlord commit to saving natural resources and energy. Benefits of a green lease include efficient energy management through active exchange and analysis of consumption data (incl. tenant energy consumption), cost savings through the reduction of electricity consumption and CO2 emission intensity, promotion and use of renewable energy sources, waste reduction and avoidance of environmentally harmful cleaning agents. So far, the company has signed "green leases" for nearly 18,000 sqm of office space in Warsaw.
In line with the company´s ESG commitment to push energy efficiency and reduce carbon emissions of the investment portfolio, CA Immo is investing in the modernization and sustainability of its buildings on a constant basis. Since 2021, the company's entire Warsaw portfolio has been powered by 100% renewable electricity. In addition, the company is also planning, for example, the extensive renovation of one of its Warsaw office buildings, Saski Crescent, targeting to significantly increase energy efficiency and tenant comfort. The work starts this quarter.