Immofinanz offloads Zagreb office building to Croatian buyer

Austrian real estate investor Immofinanz has offloaded its Grand Center Zagreb office building to a unnamed Croatian buyer.

This move aligns with their strategy to optimize their portfolio and focus on core markets.

The Grand Center, completed in 2006, boasts 16,000 m2 of prime office space in Zagreb's heart which is consistently fully occupied.

The modern, architecturally distinct Class-A building has a rectangular ground and first floor while the second to eighth floors make up an oval tower split in two. Three underground floors for parking provide 340 parking spaces.

Grand Centar offers flexible and fully equipped office solutions to tenants such as the Royal Norwegian Embassy, Regus, Google, Strabag, Cisco, Mazda, and SAP.

Radka Doehring, member of the Immofinanz Executive Board, said: ‘The sale of this office property in Zagreb shows that we are also making very good progress in the optimisation of our portfolio in the current market environment. In line with our strategy and focus on value creation, the proceeds will be invested in the expansion of our innovative office solutions and retail properties in our core markets.’

The Grand Center is located on the corner of Hektoroviceva and Radnicka streets in the center of Zagreb. This part of the city is home to an up-and-coming modern business district as well as numerous bars and restaurants.

The office building is situated close to the central bus station and on the main highway to Franjo Tudman Airport.

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