Cushman & Wakefield has entered into a partnership with Zeitgeist Asset Management and taken over property management of the investor’s Polish property portfolio.

Global real estate services firm Cushman & Wakefield has been appointed as a leasing agent for ECO City Katowice, an energy-efficient complex of office buildings under construction in Konduktorska Street in Katowice. This project combining offices and green areas with a total of 34,400 sq m of leasable space.

The occupancy costs of office spaces represent, on average, between 3- 4% of the turnover of services companies in Bucharest, and they may fall even below 2%, in some cases, according to an analysis by Cushman & Wakefield Echinox.

According to full-year economic outlooks, the Polish economy will contract by 3-3.5% in 2020 compared to the previous year. Nevertheless, Poland’s GDP is expected to return to growth in 2021 and expand by approximately 4% in 2020, reveals the latest report from global real estate services firm Cushman & Wakefield.

Global real estate services firm Cushman & Wakefield has summarized Q3 2020 on the Polish industrial market.

GRP Sp. z o.o., the owner of Morski Park Handlowy, has expanded its relationship with Cushman & Wakefield, which will represent the owner in leasing office space in the complex.

While the first results show that the GDP grew by 5.2% q-o-q in Q3 in the Czech Republic, the second wave of COVID-19 has forced the government to re-impose strict containment measures to curb the spread of the virus. Retail sales grew during the summer as they reached pre-pandemic levels. However, consumer confidence fell for a second consecutive month in September, while a worsening labour market outlook and a resurgence of new infections will mean households keep more precautionary savings as well as denting income. On the other hand, industrial production resumed growth in September and is likely to underpin economic growth as it is less exposed to the pandemic. Cushman & Wakefield summarised the situation in each market segment.

The Tei Group, which includes the Farmacia Tei network of pharmacies and Bebe Tei stores, leased approximately 10,000 sqm in the Metav industrial park in northern Bucharest, to build a semi-automatic warehouse, a transaction intermediated by Cushman & Wakefield Echinox.

Cushman & Wakefield will act as the sole agent responsible for the commercialisation of the Łódź 1 office building of the Prime Holdings Group.

The Romanian logistics market will have a record demand by the end of 2020, with a transactional volume exceeding the 700,000 square meters threshold, amid the accelerated development of e-commerce and the positioning of Bucharest as a regional logistics hub for a series of international retailers, according to Cushman & Wakefield Echinox.