Globe Trade Centre S.A. (GTC) concluded a lease contract with State Street for 11,600 sq m of office space in the Kazimierz Office Center in Cracow.

State Street is a leading provider of financial services to institutional investors. With $15 trillion in assets under custody and $2 trillion in assets under management, State Street operates in 26 countries and more than 100 geographic markets worldwide. Upon completion, its operations centre in Cracow will have the capacity to employ approx. 1,000 people.

Kazimierz Office Center is located next to Galeria Kazimierz shopping centre, between Podgórska and Gęsia streets. In addition to the office space on the upper floors, there will be 2,650 sq m on the ground floor dedicated to retail and service facilities. The building is scheduled to be completed in the 2nd quarter of 2009.

“The contract concluded with State Street proves that international corporations are strongly interested in investing in Poland, especially in Kraków” said Michał Melaniuk, Commercial Director at GTC. “We are proud that such a prestigious partner, one of the leading financial institutions in the world, has chosen the offices developed by Globe Trade Centre in Cracow for its expansion into Eastern Europe. This is the best recommendation for prospective tenants.”

Maciej Gołębiewski, Director of Poland’s Global Corporate Services at CB Richard Ellis, the largest real estate advisory firm worldwide, which represented the tenant during the negotiations process, commented: “We are especially pleased with this deal, with such a prestigious tenant in such an attractive development. A transaction of this scale only proves the growing attractiveness of Cracow as a major business destination for international players. The demand in Cracow has been boosted by such sectors as financial services, IT, telecommunications and new technologies”.

The lease-signing ceremony took place in Cracow City Hall on 6th May 2008 in the presence of Cracow Mayor Jacek Majchrowski and US Consul General in Poland Anne Hall. On behalf of Globe Trade Centre S.A. the contract was signed by Eli Alroy, president of the Supervisory Board of GTC, while State Street was represented by Tim Caverly, executive vice president of State Street’s investor services business in continental Europe.

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