The success of the first destination project – Browary Warszawskie, dialogue with tenants and adjustment of office space to new security standards, as well as strengthening the image of shopping centers and responding to the changing needs of their clients – this is what Echo Investment’s activity in the commercial real estate sector looked like in 2021. The developer focuses on multi-functional projects that complement the cities.
“Using the experience and knowledge gained in projects from various sectors of the commercial real estate market – offices, shopping centers, catering and restaurant spaces – we focus on the synergy of activities and the implementation of good practices in our subsequent city-forming projects. Last year confirmed the effectiveness of our strategy of focusing on such projects, which is why in 2022 we will implement it on an even larger scale,” says Rafał Mazurczak, member of the management board responsible for commercial projects of Echo Investment.
Browary Warszawskie – the first and already the best. A good lesson in creating projects destinations
The construction of Browary Warszawskie started in 2016. An almost empty plot with an area of 4.4 ha has become a full-fledged, living part of the city, with three modern office buildings, five residential buildings and four historical buildings: the Brewhouse, the basement of the Lagerhouse, the Fabrykanta Villa and the Laboratory.
Echo Investment puts emphasis on the gastronomic and commercial component, which complements the offer of multifunctional projects. In 2021, in Browary Warszawskie alone, 26 food and beverage concepts were opened, including the Food Hall Browary, popular among Warsaw residents, with 12 restaurants and bars. Breweries have become a meeting place eagerly chosen by business, Warsaw residents, tourists, as well as celebrities and influencers. This place is loud.
“When we started working on Browary Warszawskie six years ago, announcing it as the first destination project, it was an innovative concept on the Polish market, because it assumed the creation of a real, multi-functional city to live, live and visit. Today, looking at the finished investment, we are proud that this assumption came true and turned out to be a huge success. We believe in city-forming projects – the Lodz version of destinations, i.e. Fuzja, is ahead of us. We are also working on the concept of the project at ul. Towarowa in Warsaw, or areas of Tesco hypermarkets,” emphasizes Rafał Mazurczak.
#EchoPureOffice – safe spaces for comfortable work:
Security is one of the most important factors when making a decision about choosing an office. For this reason, Echo Investment has introduced the Echo Pure Office standard, which includes increased sanitary rules in office buildings and the provision of clean and healthy air thanks to specialized systems. Caring for tenants and their comfort in the workplace translated into 43 signed lease contracts for a total area of nearly 80,000 sqm. The group of tenants includes, among others PepsiCo, Playtika, 3M or Rise.pl.
The highest safety standards, a good working environment and social interaction in the face of post-pandemic challenges have been confirmed by the WELL Health and Safety certificate for the West 4 Business Hub building in Wrocław. This is the first Echo Investment office building subject to this certification.
“We focused on popularizing healthy and safe solutions in our office buildings. We started to monitor air quality closely, we delivered systems that helped companies make decisions about returning to their offices. In retrospect and results, we can see that our partners trust our actions. Our buildings are more eagerly chosen by companies from various fields of business, and the quality of tenants and stable contracts have translated into transactions for the sale of office buildings,” says Rafał Mazurczak.
Echo Investment’s office buildings tempt not only tenants. In 2021, Echo Investment sold four buildings: Offices at the Villa, Biuro przy Warzelni and Willa Fabrykanta, which are part of the multifunctional Browary Warszawskie investment, as well as the first stage of My Place in Dolny Mokotów – also in Warsaw. In December, the developer signed a preliminary contract for the sale of two office buildings in Fuzja, Łódź, and in January 2022, the first stage of the West 4 Business Hub in Wrocław was found for its buyer. Together, these transactions are worth over EUR 380 million.
Trade changes with the customers:
Since the lifting of restrictions in the beginning of 2021, in the retail property segment, Echo Investment focused on strong marketing and strengthening the Libero and Galeria Młociny shopping centers while returning to normal operations. Thanks to a quick response to changing purchasing trends, both projects record an increase in footfall compared to the “pre-pandemic” 2019, and more importantly – nearly 40% increase in tenants’ turnover. Libero has a very strong position on the market, as evidenced by new, unique concepts that choose this place for their debut in Katowice Off-price concepts are becoming more and more popular, hence the end of June in Libero opened the first two-level store in Silesia and the first Half Price store in Katowice.
“In 2022, we will continue the implementation of the destinations strategy. Diverse and comprehensive projects attract the attention of the market, and business places their employees more willingly in spaces that shorten the distance and allow you to deal with many everyday matters in the immediate vicinity, in line with the idea of a 15-minute city. The unique “food and beverage” offer and a number of basic services of “life services” inscribed in the DNA of destination projects will invariably be a distinguishing feature of the investments we provide,” announces Rafał Mazurczak.
