Dentons’ Real Estate team in Warsaw advised the developer Inopa S.A. on the Citibank Europe plc lease contract for approximately 10,000 sq. m. of office space in the Centaurus complex in Olsztyn. Scope of the legal advisory work also comprised negotiations of the fit-out contract for the office space. Citibank Europe will be the anchor tenant occupying 80% of the overall office space, where it intends to set up one of the group’s largest shared services centers in the world.

Centaurus is a one-of-a-kind mixed-use office, hotel, commercial/retail and residential building complex which has no counterpart in the Warmińsko-Mazurskie region.

The office building offering a total gross leasable area of 11,240 sq. m. which will house Citi’s shared services center will be opened for use in the second half of 2020. It will be the first Class A office building in Olsztyn. Citigroup leased six out of the total of eight floors. In terms of leasable space, the commercialization of Centaurus was one of the largest lease-up projects recently completed in north east Poland.

“The double-track process of negotiation of lease and fit-out contracts made the project all the more complicated in substantive terms, but at the same time – more challenging and rewarding for legal counsel. I am delighted that the client entrusted us with providing comprehensive services on such demanding projects” – said Piotr Staniszewski, partner in charge of the project.

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