OKAM City, located at ul. Jagiellońska 88 in Warsaw, the former Żerań FSO car factory, has a new property manager. The owner and developer OKAM Capital instructed international real estate advisory firm Savills to provide property management for the site.

A logistics service provider has renewed and expanded its lease in GLP Pomeranian Logistics Centre. Under its new contract the tenant will occupy approximately 22,000 sqm of warehouse and office space in the complex. Real estate advisory firm Newmark Polska was instructed to negotiate the terms of the lease.

A complex of urban warehouses and sales and exhibition spaces is to be built on the border of two Bratislava districts, Rača and Vajnory. According to the developer Alto Real Estate, the project named STORE.TO could include small distribution centres, e-shops and facilities for small businesses, production and services or for buying directly from the warehouses. However, the future design has not yet been disclosed, but the cost of construction is estimated at €24 million, yimba.sk reports. 

Bucharest-based office project Oregon Park, owned by Lion's Head investment fund, has achieved the Well Health & Safety certification, granted by The International WELL Building Institute (IWBI). 

Hampton by Hilton Budapest City Centre has opened its doors to guests. Alongside 219 guest rooms, the hotel features a fitness centre and a lobby bar. Flexible social spaces offer the opportunity to work and meet during the day or socialize in the evening, including meeting spaces available for bookings, as well as on-site parking and EV charging for guest use.

Commercial property investment amounted to €168 million in H1 2023, roughly half compared to last year, with industrial and logistics accounting for the biggest share of the transaction volumes. 

UniCredit Romania has inked a deal with Globalworth for the extension of its lease agreement in the UniCredit HQ building by 2030. The bank has been occupying the building with a leasable area of 17,400 sqm since its opening in 2012. 

Hillwood Polska has signed credit agreements with Bank Pekao S.A. for the construction of three warehouse projects: in Częstochowa, near Rawicz, and in Łazy near Warsaw, with a combined value exceeding €89 million.

According to AXI Immo, more challenging economic situation and a ‘wait and see’ approach adopted by market players have been the key factors affecting the Polish industrial real estate sector in H1 2023. Gross take-up amounted to 2.24 million sq ]m (-39% y/y) between January and June. A soft patch was also visible on the supply side. Although a relatively large amount of space was added to the market in H1 2023 (2.6 million sqm, marking a 9% y/y increase) and total stock increased to 30.6 million sq \m, there was only 2.13 million sqm under construction as at the end of June 2023 – 50% less compared to a year earlier. The vacancy rate climbed to 6.7% at the end of Q2, marking a 3.3 p.p. increase on Q2 2022.

Law firms are among the most active office tenants. They have for years shown a strong preference for central HQ locations, trophy offices and a high standard of finish, reveals the latest research from Savills.