ARTICLES LABELLED WITH TAG Poland

The boom continues. At the end of H1 2018, supply on Poland’s office markets exceeded 10 million sqm. Furthermore, 1.8 million sqm remains under construction, with 1.1 million sqm being developed outside Warsaw. JLL summarised the situation on the Polish office market in H1 2018.

Prologis has begun development of a Small Business Unit (SBU) facility totalling 13,000 square meters at its new Prologis Park Poznań III. The building is 14 percent pre-leased to Euro-net, the owner of RTV EURO AGD, a nationwide retail chain. Completion is scheduled for the fourth quarter of 2018.

Panattoni Europe has embarked on the construction of City Logistics Warsaw I, planned to total 26,000 sqm. Completion of construction works and delivery to the tenants is planned for the coming October.

Almost 425,000 sqm of modern office space was leased in Warsaw in H1 2018 while an additional 700,000 sqm of offices remain under construction. Rents increase on a par with decreasing vacancy rate. New coworking concepts begin to gain traction as well. JLL summarised the situation on the Warsaw office market at the end of H1 2018.

BNP Paribas Real Estate Poland represented First Property in the successful acquisition of Krakow Business Park (KBP).

Focus Estate Fund has closed the transaction on the acquisition of the Galeria Awangarda shopping centre in Bartoszyce (Poland). The centre has a GLA of 6,126 sqm.

Last June, Cushman & Wakefield was appointed as an exclusive commercialisation agent for building “B” of the LIXA office complex being developed by Yareal in Warsaw’s Wola district. The first phase of the development project (buildings A and B) comprising 27,900 sqm of leasable space is expected to be delivered to the market in Q3 2020.

International Campus and Alkyon Partners GmbH are developing an apartment building for students and young professionals in Kraków, which will be operated by International Campus under the brand "THE FIZZ". Located on the science and technology campus in the up-and-coming, centrally located Zablochie neighbourhood, the apartment building will have approximately 1,000 apartments. In addition, "THE FIZZ Krakow" will include extensive communal areas, 88 underground parking and 33 outdoor parking spaces for cars as well as approximately 970 bicycle parking spaces.

Poznań’s Galeria Malta, under a JV co-owned by Heitman and Neinver, has been sold to an unnamed new investor. At the same time, Balmain Asset Management and BSC Real Estate Advisors have been designated respectively as the new asset manager and property manager of the shopping centre, replacing Neinver.

Total retail stock in Poland now stands at nearly 14.0 million sqm with shopping centres accounting for 71% (9.9 million sqm), followed by retail parks and warehouses with 27% (3.8 million sqm) and outlet centres coming in with 2% (0.25 million sqm). JLL summarised H1 2018 on the retail market in Poland.