As was the case in the global financial crisis, the number of companies looking for cost savings continues to grow, with some deciding to sublease their offices.
The new direction of investing is clearly visible in the commercial real estate sector. Changes in the purpose of investments and building conversions are also on the increase.
P3, the long-term owner and developer of warehouse facilities in Europe, expands its portfolio by two urban plots located within the Warsaw agglomeration, on which P3 Warsaw I and P3 Warsaw II parks will be built. Thus, urban logistics is yet another direction of the developer's intensive activities undertaken in Poland.
Echo Investment has finished the construction of the second stage of the Face2Face Business Campus office complex in Katowice, Poland. Capgemini, as the first of the tenants, started working in the new office at Żelazna 2.
Final interior construction works are now being carried out in the high-rise, which opened at the beginning of November this year, with the general contractor handing over the common areas. At the same time, GGH is in talks to sell Mennica Legacy Tower.
Partners Group, the global private markets investment manager, has this quarter agreed to invest in two real estate portfolios in Europe on behalf of its clients, comprising eleven residential properties in Italy and eleven office assets in Poland. The properties have a gross asset value of €500 million and a combined leasable area of 170,000 sqm.
Top Polish developers believe that in 2021 the real estate market will normalize and the vaccine will help it shake off the pandemic effects. They discussed investment markets trends at the online edition of Property Investment Forum 2020, organised by Portfolio in partnership with Property Forum.
Heimstaden’s subsidiary, Heimstaden Bostad AB, announces the acquisition of two build-to-rent projects in Warsaw, Poland, from the French developer and contractor, Eiffage, which also will act as the general contractor.
Cushman & Wakefield has entered into a partnership with Zeitgeist Asset Management and taken over property management of the investor’s Polish property portfolio.
Astellas Pharma has renegotiated its lease for offices at One Floreasca Bucharest in a deal brokered by Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate.
Czech furniture industry supplier Hranipex, a provider of edge banding, adhesives, cleaning products, and accessories, has leased nearly 3,000 sqm of warehouse space at CTPark Bucharest South. The company has relocated its operations to the new facility and is currently fully operational within the park.
Oracle has renewed its lease for 600 sqm of office space in Belgrade, in a deal brokered by iO Partners.
New appointments
PSN has expanded its acquisitions team with the arrival of Martin Šrytr as Business Development Manager. Most recently, he served as Real Estate Expansion Manager at Twistcafe Group, supporting the company’s EMEA growth. His previous experience includes consulting at Cushman & Wakefield, advisory roles at Prochazka & Partners, and management positions within IWG.
iO Partners has announced key leadership changes within its Czech Republic operations as part of its ongoing business evolution. Milan Kilik has been appointed as the new Head of Office Leasing, with a particular focus on client advisory and team collaboration. Concurrently, Petr Kareš has transitioned into the role of Occupier Business Development Director. In this new capacity, he will be responsible for identifying new market opportunities and integrating services across Tenant Representation, Project Management, and Industrial Leasing.
Romanian office developer Genesis Property has appointed Cătălin Niculiță as Leasing Manager. With nearly 20 years of experience in the real estate industry, he has held leadership roles at real estate companies such as Atenor, collaborating with major office tenants in the banking, telecom, and IT sectors.
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