ARTICLES LABELLED WITH TAG Poland

After nearly a decade, the Avatar office building will be offering office space for lease again. A total of 2,400 sqm of space spread over two storeys will become available for new tenants in Q2 2020. BNP Paribas Real Estate will represent the building’s owner – the Spanish fund Azora Europa, as the exclusive agent for the leasing process.

JLL has decided to enter the residential market. With the acquisition of REAS, JLL will become the first advisory firm to operate on all segments of the real estate business in Poland. Working within the structures of JLL, REAS will be responsible for developing Living Services in both Poland and Central & Eastern Europe.

Cushman & Wakefield has been appointed an exclusive agent for leasing office space at Horizon Plaza in the Mokotów district in Warsaw.

According to Cushman & Wakefield, commercial real estate in the first three quarters of 2018 the total investment volume in six CEE countries (Poland, the Czech Republic, Slovakia, Hungary, Romania and Russia) reached €8.9 billion. Investment activity in Poland exceeded the value recorded for the whole of 2017 and is expected to reach a record high of €6 billion by the year’s end. The sustainable and solid performance was recorded in Hungary and Slovakia with volumes hitting those in 2017, whereas Russia, the Czech Republic and Romania are expected to close the year at lower investment volumes, slightly below the 2017 levels.

Skanska has sold Buildings C and D of the Silesia Business Park, a four-building office complex in Katowice. The buyer is ISOC Group, a diversified real estate and infrastructure investment group, based in Manila, Philippines. This is Skanska’s first CEE office divestment transaction to a Philippine investor. With the sale of buildings C and D, the developer has now sold all four properties in the Silesia Business Park complex. Buildings A and B were divested in 2015 to a Swedish investor.

The Cedet building, located in central Warsaw, has been sold to a fund managed by GLL Real Estate Partners on behalf of Korean investors for €129.5 million. pbb Deutsche Pfandbriefbank provided a credit facility of €75.4 million to the buyer.

KKCG Real Estate has bought five industrial BTS projects with 54,500 sqm of GLA in Poland. The transaction value was approx. €41 million. KKCG Real Estate is part of KKCG Group belonging to Czech investor Karel Komarek. AXI IMMO’s Investment department has advised buyer in the transaction.

Polish sportswear retailer, 50 Style, opened in October its first store in Romania, in Bucharest’s Iris Shopping Center, Titan area, on a surface of 315 sqm. Its entry on the local market confirms the real estate consultancy company’s, Colliers International Romania's, view of the Polish brands’ goal to expand in the Eastern European region, especially in Romania, where consumption has steadily increased in recent years.

According to the latest report by JLL, Disruption or Distraction, the flexible office space sector in Europe has more than doubled since 2014, and could grow by up to 30% per year over the next five years. These forecasts - based on an analysis of 20 major European markets - also include Warsaw, which dominates the Polish flex market.

The Gatehouse Offices, the first office building of Warsaw Brewery, will be acquired by a fund managed by GLL Real Estate Partners. The project of Echo Investment, which will obtain the occupancy permit in Q4 2018, will be sold for €76.5 million.