ARTICLES LABELLED WITH TAG office

MOM Park, a 50,000 sqm prime shopping mall and office property in Budapest was sold by a consortium of a fund managed by Morgan Stanley Real Estate Investing, Hungarian developer and investor Wing and Austrian shopping centre specialist CC Real to OTP Real Estate Investment Fund. The mall had been acquired in 2015 by the consortium, and since then significant investments have been made in the building enhancing its value as a property and a business.

HB Reavis has successfully sold two Warsaw office buildings to Savills Investment Management (Savills IM) who acted on behalf of a global pension fund client. Offering ca. 53,000 sqm, Buildings C and D of Gdanski Business Center are now entirely owned by the global pension fund.

In H1 2018, gross take-up on the office markets of Brno and Ostrava reached 45,600 sqm and 18,900 sqm, respectively, representing a significant yearly increase in both cities.The Regional Research Forum announced the Brno and Ostrava office market figures for H1 2018.

Skanska has sold Mill Park, a two-building office project in Budapest, to the real estate fund of Erste Alapkezelő Zrt., one of the subsidiaries of Erste Asset Management GmbH, for €100 million. This is the second acquisition from Skanska in Budapest that the purchaser has made following the Nordic Light transaction in 2016.

S + B Gruppe AG has acquired the Jabłonowski Palace historic office complex in Central Warsaw from Commerz Real. The property offers 17,000 sqm of leasable space and 170 parking spaces.

Colliers International Romania advised East Balkan Properties plc in the selling of its office portfolio consisting of four buildings with a total area of 9,047 sqm, situated in strategic locations in the capital. The acquisition was made by Adam Europe, the group that purchased a while ago the Phoenix Tower and Construdava Business Center office buildings, following two transactions that were also advised by Colliers.

Cushman & Wakefield has published a summary of the first half of 2018 on the Warsaw office market in its latest MarketBeat report. Effects of the existing supply gap are likely to carry into 2020 when large-scale office projects providing a cumulative annual supply of 430,000 sqm will be delivered. As a result, tenants are increasingly opting for pre-lets to secure prime office locations.

WeWork, flexible workspace provider, has become the sole tenant of office space in the Western Building of the Mennica Legacy Tower, a modern office complex being built by Golub GetHouse and Mennica Polska S.A. at the junction of Prosta and Żelazna streets in Warsaw.

After almost two decades AEW Europe decided to sell Atrium Tower office building located in Warsaw. The new owner of the property is VIG FUND, the real estate investment vehicle of Vienna Insurance Group (VIG). Real estate advisor Savills represented AEW Europe in the transaction.

Cushman & Wakefield has been appointed on an exclusive basis to sell the Zepter Business Center, an office building at ul. Domaniewskia 37 in Warsaw.