BNP Paribas takes 9,534 sqm at Stoneweg’s Avatar office in Kraków

BNP Paribas Group companies have committed to a combined 9,534 sqm at the Avatar office building in Kraków through a lease renewal and an additional agreement, securing the continued full occupancy of the property. The building is owned by Stoneweg Europe Stapled Trust and managed by Stoneweg.

BNP Paribas Bank S.A., an established occupier of Avatar, has renewed its lease, while BNP Paribas Société Anonyme, operating through its Polish branch, has signed a new agreement. Together, the two entities will occupy five of the building’s six floors and approximately 85% of its total office area.

The agreements follow an advisory process lasting almost three years, during which different workplace and property options were assessed. BNP Paribas ultimately chose to retain and expand its presence at Avatar rather than relocate, allowing the group to make greater use of its existing workplace infrastructure while limiting the alterations associated with moving to another property.

“This transaction was the culmination of a nearly three-year advisory process, during which we worked with the client to assess a wide range of workplace and leasing scenarios. A lease renewal of this scale is not simply a decision to remain in the same location, but the result of a detailed analysis of the organisation’s long-term requirements,” said Ewa Nicewicz, Senior Consultant, Office Agency at BNP Paribas Real Estate Poland.

Avatar provides more than 11,190 sqm of office space across six floors and holds a BREEAM Excellent certification. Following the latest agreements, the property will remain fully leased. Its Kraków location provides connections to both the city centre and the airport.

Monika Nożyńska, Director of Asset Management, CEE at Stoneweg, said the decision by BNP Paribas Group to renew and increase its commitment strengthens the landlord’s relationship with one of the building’s principal occupiers. The long-term renewal also provides greater income visibility for the property at a time when Kraków’s office market is dealing with elevated vacancy and more cautious occupier demand.

The scale of the commitment is particularly significant for an existing regional office asset, with BNP Paribas Group companies occupying the majority of Avatar’s available space. Maintaining full occupancy reduces near-term leasing exposure for Stoneweg and demonstrates continued demand for established, well-located offices from large corporate occupiers despite more challenging conditions across Poland’s regional office markets.