Developer Echo Investment and investment company Azora International Group have signed a preliminary sale agreement concerning the Avatar office building in Kraków. The deal, valued at €30.5 million, is expected to be finalized by the end of the year.

“The investment property market in Poland is very attractive for international funds. The importance of Poland has grown, our country is now perceived as a stable member of the EU and the Polish property market [is not seen] as part of CEE, but as a separate investment market,” commented Adrian Karczewicz, director of project financing at Echo Investment.

Located on ul. Armii Krajowej in Kraków’s Bronowice district, the Avatar building is a nine-storey class-A structure, offering over 11,000 sqm of space. It is currently occupied by the Kraków office of BNP Paribas Fortis Polska.

Construction on Avatar, which was designed by the DDJM Biuro Architektoniczne studio, lasted from Q4 2008 to Q2 2010. Jones Lang LaSalle represented the developer in the sales process.