Garbe Industrial Real Estate is moving ahead with its Europe-wide expansion, benefiting from the persistently strong demand for logistics space. For the 203 assets under its management with around 5.7 million square metres of lettable area (including open space), the company achieved rent increases averaging 11.7 percent through indexation provisions and by negotiating new lease agreements. The occupancy rate of the portfolio equals 98 percent. Moreover, the company responded to demand across Europe by delivering new sustainably designed logistics properties.
The upward trend in prime rents continues across European industrial and logistics projects due to steady demand for space, according to Garbe Research. The average rental growth for the main markets stood at €0.40 per sqm.
Developer Garbe Industrial Real Estate CEE has completed the construction of the first building of its industrial park in Piešťany, Slovakia. The new development is in line with the company’s sustainable philosophy and the hall's roof features photovoltaic panels, which will be the primary renewable energy source.
German optic company Fielmann wants to set up a new highly automated fulfilment centre for its markets across Europe and therefore signed an agreement about a future lease in Garbe Park Chomutov. The company plans to occupy approximately 30,000 sqm and the planned investment is up to €65 million. This will create 500 jobs in the region, Garbe announced.
Garbe Green Park Piestany in Western Slovakia is on course. The first 4,700 sqm hall is fully leased. The second hall, which will have a final area of 18,000 sqm, is just starting to be built. It should be ready early next year. The news was announced today by the developer.
Garbe Industrial Real Estate GmbH raised approximately €400 million in equity among German and international investors for its investment fund, “Garbe Logistics Real Estate Fund Plus III” (GLIF+III). The Luxembourg special AIF (SICAV-RAIF) without maturity is an Article-8 fund with a manage-to-ESG strategy. With a planned investment volume of €5 billion, it is Garbe’s largest pan-European fund for institutional investors to date.
GARBE Industrial Real Estate Czech Republic has commenced the development of 30,000 sqm at GARBE Park Chomutov. The structure will be built on the plot of a former construction company. GARBE demolished and revitalized the brownfield area and prepared it for the new construction of an industrial hall, which will be finished by the end of this year.
Garbe Industrial Real Estate GmbH has launched the development of 8,000 square metres in Garbe Green Park Piešťany. A new space comprising 3,000 square metres will be occupied by Inalfa, a designer, producer and supplier of roof solutions for the automotive industry. The remaining 5,000 square metres will be delivered speculatively and available for lease from May 2022.
GARBE Industrial Real Estate announces new appointments to bolster expansion plans for Poland. Karolina Ballard and Maciej Kuklewicz will spearhead the operations of the company's newly established Warsaw branch office.
Union Investment and GARBE Industrial Real Estate jointly acquired the first logistics property for their “UII Garbe Logistik Fonds” investment fund. The seller is the Karimpol Group, a privately held property developer active in Eastern and Central Europe for over 30 years. It was agreed not to disclose the financial details of the transaction.
The La Mania boutique has reopened in the Westfield Mokotów shopping centre in Warsaw. Five new brands have also joined the tenants, including Apple and AB Foto.
Jula, the Swedish multi-market chain, is planning to open another shop in the Warsaw agglomeration. The new outlet will be established on the site of the San Park Mysiadło retail park currently under construction. The shop will occupy an area of nearly 2,500 sqm.
Primark has opened its first shop in Łodź, investing more than €9 million. Łódź Manufaktura is the brand's sixth location in Poland and twelfth in the Central and Eastern European region. Primark in Łódź comprises more than 3,300 sqm of retail space on one floor.
New appointments
Nives Grzunov as the Head of Indotek Group for Croatia, effective from September 15, 2023. In this key role, Nives will oversee Indotek's Croatian endeavours under the Dalmatie Group brand.
Michał Różycki has taken up the position of director of the land and residential property division at Greenfields, a Polish company that provides advice on land sales and purchase transactions.
Nhood Services Poland is expanding its service activities for the commercial real estate industry. Anna Wysocka has been appointed director of New Business Development, responsible for expanding the company's client portfolio in this area.
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