Matarnia Office Park
residential development
approx. 7,000 sq. m of GLA
Gdansk
Project description
Investor’s debut on the office market, full commercialisation
Domesta, a Tri-City residential developer, carried out an office project for the first time. It wanted to combine investment function with acquiring a new headquarters for the company. Our task was to translate the vision and design of the building into a market product and ensure full commercialisation despite high uncertainty on the market.
CHALLENGES
The first office project, without a background or recognition on the market
The project was the first office development for an investor with a non-established position in the commercial sector and without commercialisation experience. A key challenge was to develop a lease offering in a pre-let format and ensure predictable revenues and financial outcomes in line with the investment objectives. Conducting the whole process in a challenging market environment during an economic slowdown and the pandemic posed an additional challenge since tenants demonstrated increased caution, which translated into lengthy decision-making processes.
OUR SOLUTIONS
Commercialisation strategy turning a building into a subject of the lease
We started with analysing the design documentation and optimising the building’s layout for commercialisation to ensure that the floor structure, modular space and adopted standards would enable flexible adaptation to diverse tenant needs. We then developed a comprehensive commercialisation strategy, encompassing rental and operating policies, an incentive package, recommended contract lengths and guidelines for the project market communication. We provided comprehensive leasing management services, from inquiry management and arranging presentations, through support with space planning and fit-out budgeting, to active collaboration with brokers and establishing direct relationships with potential tenants, systematically building a pipeline of interest in the project. In the final phase, we represented Domesta in negotiating financial terms and contractual provisions, securing the investor’s interests and ensuring the stability and predictability of future revenues.
BENEFITS
Full commercialisation despite the pandemic and an outcome exceeding the investor’s assumptions
Skomercjalizowaliśmy oba etapy inwestycji w 24 miesiące, mimo okresu pandemii i wyraźnego spowolnienia na rynku biurowym. Parametry finansowe najmu przekroczyły początkowe założenia inwestora o ok. 15%, a przychody zostały oparte o terminowe umowy zawarte ze stabilnymi firmami, m.in. Rockfin, Viega, txWireless i Generali, ze średnią ważoną długości umów przekraczającą 5 lat. Projekt zbudował pozycję Domesty jako wiarygodnego inwestora biurowego i wzmocnił markę firmy poza segmentem mieszkaniowym.
Our clients’ testimonials speak for themselves
The goal of our cooperation was to commercialise the Matarnia Office Park investment on an exclusive basis, despite harsh conditions on the office real estate market. Walter Herz carried out the whole process at the highest level, showing its outstanding commitment, timeliness and effectiveness.
DOMESTA
The team responsible for the project
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