U•Center Phase 1, the office project in Bucharest owned by Pavăl Holding, has obtained the WELL Core certification at the Platinum level with a score of 91. The owner and Forte Partners, the developer of the building, said this is the highest score in Romania for this type of certification.
The potential development of residential for rent (PRS) in Bucharest could reach 5,000 units by 2025, according to real estate consultancy Colliers Romania.
While the overall value of land transactions in Romania totalled €450 million during 2022, two-thirds of the traded volume was generated in Bucharest, mostly in the residential segment, according to Colliers Romania.
The real estate division of Rădăcini Group has purchased the Brico Depot DIY store in Iași for an undisclosed sum. The store has a sales area of approximately 8,000 sqm, with around 200 parking spaces and was opened in 2007 as a Praktiker brand.
The volume of land sales for commercial real estate projects in Romania (excluding for traditional industrial and logistics projects) reached around €450 million in 2022, down from almost €800 million euros a year earlier, according to estimates by real estate consultancy Colliers.
Genuine Parts Company signed a multi-year lease for office space in Kraków's Lubicz Park B building. The company’s new location, which will serve as the headquarters of GPC Global Technology Center, will occupy one-and-a-half floors (1,500 sqm in total). JLL Poland took part in lease negotiations and is overseeing the technical side of the GPC office construction process.
The Polish branch of German software developer SAP is to move into the 11th floor of the Varso Tower building in central Warsaw, where it will occupy almost 1,400 sqm.
Peakside Capital has signed a lease with DPD Polska for 7,000 sqm of cross-dock space at City Point Targówek. The complex is now undergoing a major redevelopment. It will eventually offer close to 100,000 sqm of commercial space, making it the largest urban logistics scheme in Warsaw.
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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