In Q3 2019, the total office stock in Prague reached 3.59 million sqm, according to Colliers International. Completions include two new and one refurbished property: Dock In Three in Prague 8 (16,000 sqm), Argentinská Office Building in Prague 7 (5,800 sqm) and the refurbished Life Building C in Prague 4 (11,100 sqm).

Prologis has started the development of a 21,000 square meter speculative facility at the fully occupied Prologis Park Prague-Uzice in the Czech Republic. The facility will be completed in Q2 2020 and it will offer flexible space solutions for all types of business – logistics/storage or production, with unit sizes starting at 4,500 square meters. It has further development potential for up to another 42,000 square meters.

GIC, Singapore’s sovereign wealth fund, has signed an agreement to acquire a pan-European logistics real estate portfolio (Maximus) from funds managed by affiliates of Apollo Global Management, Inc., a leading global alternative investment manager, for a net consideration of approximately €950 million. This acquisition is in line with GIC’s strategy to scale up its fully-owned P3 logistics platform and reinforce P3’s position as a leading developer and manager of logistics properties in Europe. 

The most active logistics developer in Hungary plans to expand its portfolio by 100-150 thousand sqm every ear. Rudolf Nemes, Country Manager of CTP Hungary talked to Property Forum about the ongoing changes on the Hungarian logistics market.

CTP recently announced Arcadis, ADP and CEVRE as winners of the tender for certifying CTP’s entire portfolio of buildings. Winners were chosen based on track record, capability, ESG activity and cost. Key to the winning the tender was sufficient resources available to certify all 293 buildings in six countries within the timeframe. CTP plans to have all 293 buildings certified by the end of June 2020. The certification process will require close cooperation and transparency among the various parties and each party has dedicated teams to complete the task by the agreed deadline. In total, CTP expects to invest up to €1.2 million into the certification process.

Over the years, warehouse locations outside Poland’s five largest regions have attracted limited interest from institutional investors. However, along with the development of the country's road network and increasing difficulties in recruiting employees in major Polish metropolitan areas, new locations are becoming increasingly attractive for tenants and landlords. In fact, according to a report by JLL, Hillwood Poland and ManpowerGroup, these factors may well translate into higher investment volumes in emerging markets in the next few years.

A second building with 27,000 sqm, of which 9,500 sqm will be taken up by DSV Road, will be erected at the existing Panattoni Park Poznań IV. Following the extension, the park will total 62,000 sqm, and in the future will reach its target size of 87,000 sqm. 

Poland-based proptech company Velis Real Estate Tech announced that its facility management software Singu FM has been implemented across Prologis’ EU portfolio and six U.S. markets. Prologis is a global leader in logistics real estate with a focus on investing in technology that helps customers solve their pain points and run their businesses as efficiently as possible. 

Invest4SEE has sold the second phase of the Invest4SEE Industrial Park Dubnica to REICO’s ČS nemovitostní fond for around €9.5 million. CBRE represented Invest4SEE in the negotiations.

The development of e-commerce has a growing impact on the development of the industrial real estate sector. The origins can be found in the change of our shopping habits – the popularization of e-commerce has revolutionized logistics operations in warehouses, according to Adrian Semaan, Consultant at the Industrial and Logistics Agency at Cushman & Wakefield Poland.