Paramount has extended its lease for around 4,500 square meters of space in the “Renaissance” on Mokotowska in Warsaw until 2030. The US media group has been a tenant of the property since 2017. It is owned by LEADING CITIES INVEST, the KanAm Grund Group's open-ended real estate fund.
“Renaissance” was originally built in 1902 as a residential building and was converted into a so-called “Grade A office building” through a complete modernization in 2006. The building's timeless façade combines historical and modern elements, creating a distinctive look.
“Renaissance” is located in a top location in one of the most beautiful streets in Warsaw
The property is located at the intersection of the main streets Mokotowska and Marszałkowska on Plac Zbawiciela. Mokotowska is one of the most beautiful streets in Warsaw and has retained its historic character for centuries.
“Renaissance” has a floor space of over 5,200 square meters - consisting of five floors above ground, four retail units on the ground floor and a three-storey underground garage with 66 parking spaces.
Paramount (which operated as Viacom until 2022) has leased 100 percent of the office space, including the archive and parking spaces, as the main tenant.
Paramount is a leading global media, streaming and entertainment company that offers innovative streaming services and digital video products as well as powerful production, distribution and advertising solutions. Its portfolio includes CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, and BET, among others. The company has one of the industry's most extensive libraries of TV and movie titles.
In addition to the US media group, there are four other tenants in the property who have rented the retail space on the ground floor for many years.
Renowned companies, embassy district and exclusive residential streets are located in the neighbourhood
Numerous renowned companies are located in the immediate vicinity of “Renaissance”. There is also a wide range of fashion stores and restaurants. In addition, the exclusive residential streets adjacent to the district and the embassy district make this location very attractive, especially for office users.
There are train stops directly in front of the building, which are part of the triangular railroad junction connecting the north-south streetcar line. The entrance to the “Politechnika” stop on the nearest subway line M1 is only 350 meters away and connects the location with the main railway station and the regional railway station.
Targeted asset management and sustainability measures increase the attractiveness of the building
The “Grade A office building” has a BREEAM “very good” in-use certification, i.e. it offers very high sustainability standards. In addition, the KanAm Grund Group's asset management team has initiated or already implemented further targeted measures to increase the attractiveness of the property for tenants and to stand out from the competition. For example, the common areas were converted to a CO2-neutral energy supply. Other measures included a tenant satisfaction survey to derive further optimization measures and training the property manager to improve ESG data exchange. In addition, various sustainable and efficient building technologies were implemented using AI-supported platforms such as “aedifion” and “DABBEL” in order to identify and, if necessary, implement optimization potential in building operations.