PNK Group, an international industrial real estate developer from Russia, entered the European market with the opening of its new industrial park - PNK Park Sereď in the Western Slovak region. The park comprises a 45,000 square meters of Class A industrial space across two completed facilities.
Prologis has begun construction of a new 10,000 square meter speculative facility at Prologis Park Budapest-Harbor in Hungary. Completion is scheduled for the first quarter of 2019, just six months after the start of the development.
Accolade Group will invest €8.6 million in the construction of a new industrial park near Zdice, right at exit 28 from the D5 motorway from Prague to Plzeň. The project will offer 12,100 sqm of leasable space and might start operating by 2020 or earlier.
The Polish industrial market set three records in H1 2018, according to Cushman & Wakefield. The leasing volume hit 2,100,000 sqm – the highest in the first six months of a year, the vacancy rate fell to an all-time low of 4% (573,000 sqm) and the volume of warehouse space under construction set a new high of 2,250,000 sqm across 66 projects.
Local real estate developer Global Vision, controlled by Romanian investor Sorin Preda, has started a €200 million industrial development project on a 100 ha land it acquired last year near Constanta’s port.
At the end of H1 2018, there was more than 2.13 million sqm of warehouse and industrial space under construction across Poland with Central Poland accounting for more than one-fourth of the development pipeline, according to Cresa. Despite the healthy supply, the vacancy rate will remain below 5% this year and is likely to edge down to approximately 4% next year on account of a base effect and the expected robust occupier demand.
In H1 2018, demand on Poland’s industrial market was 2 million sqm - this is the best ever result recorded in the market’s history. In addition, industrial stock in Poland has now exceeded 14 million sqm, according to JLL.
The local industrial and logistics stock exceeded the 3 million sqm threshold, reaching 3.12 million sqm at the end of H1 2018, according to Romania's Industrial & Logistics Market H1 2018 report by Cushman & Wakefield Echinox. Almost 90% of the current stock is concentrated in Bucharest and in five other cities - Timisoara, Cluj-Napoca, Ploiesti, Brasov and Pitesti.
Poland’s warehouse and logistics market is truly booming at the moment. The data for the first half of 2018 shows that, following last year’s success when the total volume of modern warehouse space increased by 21%, the market is not slowing down, according to BNP Paribas Real Estate Poland.
Intersport will open a new large outlet in the recently refurbished GOBUDA Mall in Budapest in Q3 2023. The firm joins German retailer Wellensteyn and Hungarian retailer Budmil, both started to trade there in March. A new Wok'n Go restaurant will be available in the mall in the Summer.
Wolt has leased office space in Warsaw's Lumen building. As a result of the transaction, the new tenant has taken nearly 900 sqm. The office building in the centre of Warsaw is owned and managed by Globalworth Poland.
Lighting company Wojnarowscy has agreed a lease renewal for 3,870 sqm of warehouse and office space in Panattoni Park Sosnowiec II. The tenant was advised on the lease renegotiation by experts of real estate advisory firm Newmark Polska.
New appointments
CPI Property Group is expanding its retail leasing department. Dariusz Kafara has been appointed as the new Leasing Manager. At the Warsaw branch of the company, Dariusz is responsible for maintaining the maximum level of commercialisation in two retail park chains from the group's portfolio - CityMarket and STOP SHOP.
Brian Nyeng Olesen, formerly head of commercial at the Salling Group, has been appointed as the new managing director of Netto Polska. The position was previously held by Hugo Mesquita.
M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.
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