ARTICLES LABELLED WITH TAG Poland

GRP Sp. z o.o., the owner of Morski Park Handlowy, has expanded its relationship with Cushman & Wakefield, which will represent the owner in leasing office space in the complex.

Rockwell Automation, a global manufacturer and supplier of industrial automation and IT solutions, has extended its lease of warehouse and office space in Katowice. In the process of negotiating the new contract terms, the company was represented by CBRE, while the owner of the building - Aviva Investors - was advised by experts from JLL.

European Logistics Investment BV (ELI) has acquired two warehouse facilities located in Wrocław. ELI, together with its partner Panattoni, plans to further develop the site in order to deliver City Logistics Wrocław North totalling 45,000 sqm of logistics space.

Colliers International has taken over the management of the DSV International Shared Service Centre in Warsaw.

The third quarter of the year brought Echo Investment €8 million (PLN 36 million) in net profit, which is the result of handing over 301 apartments to clients, the value increase of office buildings under construction, as well as the apartment rental platform – Resi4Rent. The developer increases its focus on the residential sector – both for sale and for rent – which today accounts for about a quarter of the company's assets. Echo Investment intends to carry out most of its projects as part of multi-functional projects, called "destinations".

Echo Investment plans to deliver a 1,200-apartment residential project with retail components and social space in Warsaw’s Służewiec district. The plot on which the project will be built is the subject of a preliminary purchase agreement by Echo Investment from Immofinanz. Construction works could start in the middle of next year.

Palmira Capital Partners, one of the leading sector specialists in European logistics and industrial properties, has launched the Palmira European Core Logistics Fund.

This year is likely to be the best for the Polish warehouse and industrial market, predicts Savills, with leasing activity already setting an all-time high in Q1-Q3 2020. Occupier take-up predominantly came from food retailers operating without any disruption despite restrictions imposed on other retail sectors and from e-commerce, including logistics operators serving e-retailers.

The scale and number of transactions in storage real estate in Central and Eastern Europe makes it one of the fastest-growing markets on the old continent. Investors generally are following the growing demand for warehouse space resulting, among other things, from the growing role of e-commerce. At the same time, the strategic location on many north-south and east-west international routes makes the CEE region of Europe a highly desirable destination for warehouse locations. It is one reason why this sector is the only real estate segment currently experiencing year-on-year growth.

Ghelamco has begun the construction of the Craft office building in the centre of Katowice, near the Silesia City Center shopping centre.