ARTICLES LABELLED WITH TAG office

Trinova Real Estate has completed the acquisition of the Spectrum Building in Glasgow on behalf of Futureal Group, a leading real estate developer and investor in Central and Eastern Europe. The transaction marks a significant milestone in Futureal’s expansion into Western Europe.

After re-certification, the Metropolitan office building in Warsaw has received the BREEAM Excellent certificate. The property is managed by Colliers International.

Czech investor CPI Property Group has completed the acquisition of the Equator IV office building in Warsaw from Karimpol Polska. JLL advised the buyer in this transaction.

Cushman & Wakefield has been managing Astoria Premium Offices in Warsaw since the beginning of September 2019.

Changes in the Polish office sector happen not only from a quantitative aspect but in qualitative terms as well. There is a growing interest in multi-functional projects on the market. The share of flex space, which is an interesting option for large tenants, is also increasing. JLL summarised the situation on the Polish office market at the end of Q3 2019.

Israeli company Shikun & Binui has signed an exclusive letter of intent to acquire the 76,000 sqm Hermes Business Campus office complex in Northern Bucharest from Belgian developer Atenor, according to profit.ro.

Globalworth has signed a preliminary sale and purchase agreement with Cavatina Holdings SA to acquire two office developments in Poland, in Warsaw and Krakow, on their completion scheduled for Q1 2020. The maximum transaction consideration for the two assets has been set at €185 million, with the final consideration to be determined on their leasing status at completion and after customary deductions. 

The UK is Romania’s fourth biggest service export destination, after Germany, Italy and France, with around 8% of total, though it also generates nearly 12% of the IT service exports, underscoring the deep ties to the office market in Bucharest and other parts of the country. In case of a hard Brexit, just a modest 10% decrease in trade flows with the UK would shave around 0.1% of Romania’s GDP and bring potential pressures on good office buildings, as among companies tied to the UK economy are blue-chip tenants, according to data from Colliers International Romania.

According to data by JLL, the value of office investment transactions concluded from the beginning of 2019 came in at nearly €2.8 billion, equating to 2018's total performance. What is particularly noteworthy is that office regional markets achieved record-breaking results of over €1 billion.

Romanian real estate developer One United Properties has obtained the building permit for the One Verdi Park mixed-use project that will include office and residential units.