The number of property deals and the volumes transacted plunged in Q4 2022 in comparison to the final quarter of 2021 in major EMEA markets due to higher interest rates and financing costs amid surging inflation. However, property investment will resume its growth path this year, as the inflation and interest rates become more stable, says 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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