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ZF TRW, a global automotive supplier, has selected Symetris Business Park – developed by Echo Investment – as the location for its new electronics engineering centre in Łódź. The company has leased nearly 2,400 sqm of space. JLL advised ZF TRW on the process of selecting the new space.

Aberdeen Asset Management Deutschland AG has signed an agreement to sell the Construdava office building in Bucharest to AdamAmerica, the advisor of the seller, Colliers International reported.

HB Reavis announced that construction has commenced on Varso Place, its flagship development in Warsaw’s city centre. Plans for the 140,000 sqm mixed-use scheme include one of Europe’s tallest towers and two mid-rise buildings. Completion is scheduled for 2020.

2016 saw the highest developer activity in the history of the Polish office market. New supply is expected to remain strong in 2017 with 1.4 million sqm of new space currently under development. JLL published its preliminary summary of Poland's office market performance in 2016

Aviva Investors and LaSalle Investment Management have acquired River Garden II & III in Prague, on behalf of the Pan-European Fund Encore+ for €84 million. River Garden II & III, developed by HB Reavis is Class A office building with ground floor retail, located in the Karlin district of Prague. This is the first acquisition that Encore+ has made in the Czech Republic.

JLL has been selected by the new owner of Swan Office & Technology Park as property and asset manager of the office building located in the Northern part of Bucharest. JLL's responsibilities comprise maintaining relations with tenants and extensive operational management services including overseeing subcontractors and maintenance costs.

Located at 111 Marszałkowska Street in Warsaw, the Saski Point office building has received the BREEAM In-Use International certificate with a “Very Good” rating in Building Management and Asset Performance. Cushman & Wakefield property manages the facility on behalf of CA IMMO. 

Arcona Capital has entered into a long-term lease agreement with Knorr-Bremse Group to lease a total of 2,700 square meters of office space in the administrative building in the city centre of Liberec. The building will then be fully occupied. Arcona Capital, manager of property portfolios in Central Europe, owns nearly 60 commercial properties in the Czech Republic.

Strong demand across all investment sectors is expected to continue into 2017 in the Czech Republic and the €3 billion boundary could be exceeded once again. Retail is likely to become the most popular asset class next year, followed by offices and industrial. CBRE has released the Czech Republic Real Estate Market Outlook 2017.

Skanska has sold the Nordic Light office building in Budapest, Hungary, to the real estate funds of Erste Alapkezelő Zrt. – one of the subsidiaries of Erste Asset Management GmbH. The value of the transaction is €67 million. The transaction has been recorded in December, with the transfer of the property scheduled for the first quarter of 2017. Skanska has also started its newest office development in the Hungarian capital.