CTP has officially opened the new TitanX Engine Cooling factory at CTPark Opole in Poland. TitanX, the global supplier of cooling systems for trucks, has now launched its production operations in the OPO3 building, which is part of the CTPark Opole industrial and logistics complex. In doing so, TitanX has increased the previously occupied space by 18,320 sqm, consolidating all engineering processes in a single investment, which was built-to-suit by CTP.

LCP Properties, a developer of the small warehouse space (SBU) warehouses under the Multipark brand, has received another building permit for a project of this type, this time in Gdańsk. Multipark Gdańsk in the first stage has over 5,400 sqm of GLA with eighteen modules. The project is scheduled to open in the fourth quarter of 2024.

GLP announced has successfully acquired two logistics warehouses spanning a combined area of 37,600 sqm in Janki near Warsaw. The price has not been disclosed.

Cushman & Wakefield has summarized the situation in the Polish retail market in 2023, which saw heightened development activity, with about 450,000 sqm of new retail space delivered. The Polish retail sector continued to recover, as confirmed by the number of debuts – 29 new brands entered Poland in the last 12 months, marking the highest figure since 2017. Meanwhile, the slower price growth bolstered consumer sentiment, leading to higher retail turnover levels.

Griffin Capital Partners announced a series of promotions within its Investment and Finance teams. 

Despite significant headwinds across the global economy, the European flexible office market has remained largely resilient throughout 2023, says Workthere.pl. In 2024, the flexible office specialist expects operators to continue to seek best-in-class spaces with a greater focus on amenities and sustainability offerings.

7R will introduce a battery energy storage unit at 7R Park Wrocław West II. This innovative solution is unprecedented in facilities of this type. It will allow for storing the energy and, consequently, a significant reducing of the carbon footprint.

Kajima has appointed Michał Obara as the Managing Director of Student Depot, Poland’s largest student accommodation provider. The appointment follows Kajima acquiring Griffin Capital Partners’ shareholding in Student Depot and opening nearly a thousand additional beds in 2023. 

Yareal Polska has announced the successful closing of a €45 million investment loan, with a term of 5 years, from pbb Deutsche Pfandbriefbank (pbb).

Uncertainty and volatility have been the two dominant trends shaping the commercial real estate market and buyer sentiment in recent months. However, according to the latest report from Cushman & Wakefield, the Polish market, whose fundamentals remain strong, is broadly expected to regain equilibrium. Change is being seen in the number and types of real estate transactions taking place – due to the constrained availability of safe prime assets for sale on the office market and high financing costs, investors seeking higher returns are turning their focus to higher-risk transactions. With retail footfall figures for large schemes back at satisfactory levels after the pandemic and attractive asset pricing, the retail market has become an interesting sector for bargain hunting. The warehouse and logistics sector continues to feature prominently on investors’ radars.