ARTICLES LABELLED WITH TAG office

GalCap Europe, an investment and asset manager active in Austria and the CEE region, has entered Poland with the acquisition of two historic boutique office buildings in Warsaw, Wilcza 46 and Mokotowska 33/35.

December is a time for Romania to score positive results for sales at supermarkets, hypermarkets or discounters as well as for gifts, offering generous returns for retailers in shopping centres and preferring apparel rather than electronic goods relative to other Europeans. The season’s celebrations are a recurring highlight each year for the office segment as well, as both landlords and tenants invest in promoting the holiday spirit.

Warsaw is experiencing growing demand for offices, absorption of new space, decreasing vacancy rates, and is expected to see rental growth and strong investment volumes. Next year, the city should further cement its dominant position as a thriving business hub and a regional leader in terms of economic growth and office market maturity. These economic fundamentals show no signs of slowing down, according to a report by JLL.

Belgian real estate developer Speedwell is investing €40 million in a mixed-use project in the Romanian city of Cluj-Napoca.

Erste Group has laid the cornerstone of the second phase of the Sirius Offices business complex in Belgrade which will include the construction of 12,500 square metres of space over eight floors and a parking lot for 200 vehicles. Erste plans to invest €25 million in the second phase of the project. The building will be completed by the middle of 2020.

Bulgarian Real Estate Fund received permission for the construction of a new building in the state-owned Science and Technology Park in Sofia.

After nearly a decade, the Avatar office building will be offering office space for lease again. A total of 2,400 sqm of space spread over two storeys will become available for new tenants in Q2 2020. BNP Paribas Real Estate will represent the building’s owner – the Spanish fund Azora Europa, as the exclusive agent for the leasing process.

Cushman & Wakefield has been appointed an exclusive agent for leasing office space at Horizon Plaza in the Mokotów district in Warsaw.

The tight labour market is changing the way developers think. While designing an office building they think not only about who will lease space, but also what they should do to make people want to work there, says Artur Sutor, Partner and Head of Office Department at Cresa Poland.

Skanska has sold Buildings C and D of the Silesia Business Park, a four-building office complex in Katowice. The buyer is ISOC Group, a diversified real estate and infrastructure investment group, based in Manila, Philippines. This is Skanska’s first CEE office divestment transaction to a Philippine investor. With the sale of buildings C and D, the developer has now sold all four properties in the Silesia Business Park complex. Buildings A and B were divested in 2015 to a Swedish investor.