CA Immo records good demand for premium office space in Prague - two project completions fully leased
- Less than 12 months since first occupation, office buildings Mississippi House and Missouri Park in the River City Prague campus are fully let
- 18 closed lease transactions with a total of approx. 16,200 sqm of modern office space in the Prague portfolio during the first five months of 2022
- Battle for the best brains increasingly reinforces the trend towards high-quality office space
Vienna/Prague, 2022. CA Immo records strong tenant demand for its high-quality Premium Prague office buildings at River City Prague campus: With three new leases comprising total office space of approx. 4,700 sqm signed, the two office buildings Mississippi House and Missouri Park, which have been completed in summer 2021, are fully let. During the first five months of 2022, CA Immo closed 18 lease transactions in total in its seven office properties in Prague, mostly new leases and expansions, representing nearly 16,200 sqm of modern office space.
Václav Jonáš, Managing Director of CA Immo Prague, comments: “Our commitment to developing River City Prague as a sustainable, innovative and healthy office campus with a high quality of stay and attractive services is meeting with very good tenant demand. This confirms our claim to offer office space that is significantly "better than home" and where people love to work. Against the backdrop of hybrid working, demographic changes and the ongoing shortage of skilled workers, we see that companies increasingly see high-quality office space as a value and an important component of their business model. In our view, the future of the office clearly lies in the premium segment.”
What is truly unique about the new Mississippi House and Missouri Park office buildings is the fusion of the modern office environment with the riverside nature, promenade, community park and numerous recreational opportunities. At Missouri Park, two new lease agreements have been signed, covering a total area of approx. 3,900 sqm. The tenants in the new buildings include the international consulting company ADASTRA, a cybersecurity software company SentinelOne, the leading global transactional law firm Allen & Overy and international law firm Bird&Bird, Europe’s largest price comparison website, and online shopping advisor Heureka or the leading global healthcare company Novo Nordisk. Mississippi House and Missouri Park’s modern office space is now 100% leased, mostly by companies from IT, the pharmaceutical sector, professional services and the consulting sector. The largest leasing transactions finalized by CA Immo in Prague this year so far are two new lease agreements covering around 5,700 sqm of office space in Nile House.
Both Mississippi House and Missouri Park achieved the highest sustainability standards with LEED platinum. Further, Mississippi House and Missouri Park are targeting WELL Platinum and WELL Health & Safety ratings for maximum tenant comfort. CA Immo’s office building Nile House recently achieved GOLD in the new version (4.1) LEED EB:OM green building certification. All three buildings are part of the River City Prague campus in the sought-after Karlín district, consisting of 5 buildings and offering 85,000 sqm of Class-A office space.
CA Immo in Prague
Prague is one of CA Immo’s long-standing core markets. The Czech portfolio consists of seven office buildings, including the five River City Prague properties (Prague 8 – Karlín) with Danube House, Amazon Court, Nile House and its latest additions Mississippi House and Missouri Park, as well as Kavčí Hory Office Park (Prague 4 – Pankrác) and the Visionary office building (Prague 7 – Holešovice). The book value of the Czech investment portfolio, comprising around 170,000 sqm rentable area, is approximately €470 m (around 7% of the total CA Immo portfolio by book value). All CA Immo office buildings in Prague have been awarded a LEED or DGNB sustainability certification.
For more information about the Czech portfolio please visit: