Steffen Szeidl, CEO of Drees & Sommer, spoke with Property Forum at Expo Real about the challenges of property development and the potential for business growth in Europe. He cites the electrification of the economy and the upgrade of the existing stock of buildings as new growth avenues for Europe.

7R has fully leased 7R Park Wrocław West II for Yusen Logistics. The tenant will occupy nearly 43,000 sqm in the facility. This is one of the largest leases this year.

Logicor has re-signed long-term customer Leroy Merlin, the French hypermarket chain, in an agreement that will see them expand their current facility at Logicor Stryków in Central Poland. Under the agreement, Leroy Merlin will occupy c.50,000 sqm of warehouse space there, which will be used as their main distribution centre for stores across Poland and the wider region.

MLP Group is embarking on a project to develop its second logistics park within the Łódź urban area. MLP Business Park Łódź will deliver more than 30,000 sqm of city logistics space, some of it designated for light manufacturing. The project will undergo the BREEAM New Construction certification of ‘Excellent’. The first facilities are expected to be available for occupancy by mid-2024.

Half of the hotel investors in CEE already address ESG in their transaction due diligence, and 40% are in the process of including it, says Cushman & Wakefield in their newest report.

Octava Property Trust has sold a development plot for an SBU warehouse project to an Austrian investor. According to real estate advisory firm Savills, engaged in the search for investors in partnership with Avison Young, Warsaw is the fastest-growing warehouse market in Poland. 

Investors in Poland are looking for market opportunities and value-add assets. Companies are optimizing their portfolios by putting up for sale properties that do not fit their new investment strategies, says Walter Herz. 

Cushman & Wakefield has released a summary of office market conditions in Warsaw. This year’s development activity is expected to fall to its lowest in nearly 25 years amid a record number of leases, falling vacancy rates and the continued upward pressure on rental growth. 

Accolade has expanded its management team with the addition of a new director responsible for the commercialisation of the entire group's portfolio. Joanna Sinkiewicz brings over 16 years of property industry experience and will be responsible for achieving the company's strategic goals.

KREO, Ghelamco’s newest project in Kraków, has received an occupancy permit. More than 24,000 sqm of office space awaits tenants.