Pinnacle Poland has recently signed a preliminary agreement to purchase a plot from „KOPEX-Przedsiębiorstwo Budowy Szybów”. It is the third construction site to be owned by Pinnacle in Katowice.
The subjected property is located at 214 Roździeńskiego Av. and totals the area of over 5 ha. The company wants to create there CityFlex Business Park composed of warehouses, office spaces, showrooms and small business units.
The real estate developer and asset manager wants to expand its business activities in the Katowice agglomeration and also made large land purchases across the region last year. Apart from the fore-mentioned agreement signed with the subsidiary of Kopex, the company had obliged oneself to buy five plots from Mostostal Zabrze for PLN 61 million. These include two sites in Katowice and three in Bytom, Gliwice and Sosnowiec designed for CityFlex Business Parks.
The plots in Katowice are located on Miedziana St. (51 200 sq. meters), where the leasable area would be amounted to 19 000 sq. meters, and on Lwowska St. (121 100 sq. meters) – the area for lease totals 48 200 sq. meters. Commercialization process had been started, however the company has not yet revealed any details about tenants and dates of the projects realization.
Pinnacle is wholly owned and managed by its founders. It was established in Prague in 2001 as an independent real estate development and asset management business. It manages assets worth approximately EUR 400 million.