ARTICLES LABELLED WITH TAG Poland

The retail park in Przeworsk (Rock Park), which had its grand opening at the beginning of February this year, is undergoing a change in ownership after just a month of operation. The seller is RockCapital, and the buyer is ME Invest, a company owned by TERG S.A., the owner of the Media Expert chain. The Avison Young investment team represented the seller in the transaction process. The price has not been disclosed.

MLP Poznań witnessed a foundation stone laying ceremony for a new project to be developed for HAVI Logistics. Once completed, the new facility – comprising 16,000 sqm of space – is scheduled for handover at the beginning of the second half of 2024. The project contracted to WPIP Construction, will undergo a BREEAM New Construction certification of ‘Excellent’.

Panattoni has completed and handed over the main European production facility of 13,000 sqm for Maxcess, an industrial automation system producer. 

After the very successful years of 2021 and 2022, known as the golden period of development of the industrial market in Poland, 2023 was a period of greater challenges due to a change in the macroeconomic situation. The main reasons were high inflation, which affected the purchasing power of consumers, persistently high-interest rates, and uncertainty over the eastern border. The market grew, but at a slower pace, especially in the first half of the year, to accelerate at the end of 2023. Development activity in January-December 2023 amounted to 3.7 million sqm (-16% y/y), and as a result, the sector's total stock rose to 31.7 million sqm (+13% y/y). Another 2.8 million sqm (-16% y/y) remains under construction, about half of which is not under signed lease. Gross take-up (which does not include short-term leases) amounted to 5.6 million sqm, and despite a lower result versus 2021-2022, it was significantly higher than in the pre-pandemic period, i.e., 2018-2019, says Axi Immo. 

CTP has announced the appointment of two new Managing Directors for the business. Effective from 1st March 2024, Piotr Flugel has been appointed as the Managing Director for Poland and Daniela Boytcheva has been appointed as the Managing Director for Bulgaria.

Demand for offices in Poland remains high, but there is the least amount of space under construction in over a dozen years. The office real estate market is changing more and more, says Walter Herz. 

Demand and supply slowed during the last quarter but remained relatively strong, reveals the latest report from BNP Paribas Real Estate Poland. Both vacancy and rental rates edged up by the end of 2023. Looking ahead, urban warehouses and built-to-suit projects will increase in popularity.

CTP is starting construction of its first manufacturing and logistics complex in the Podkarpackie region. In Rzeszów, it will build a complex of two facilities with a total leasable area of nearly 50,000 sqm. This will be the company's 16th investment in Poland and the first phase of the project is scheduled for completion in Q3 of this year. 

NEPI Rockcastle has a development and refurbishment pipeline of more than €650 million in 2024 across Central and Eastern Europe (CEE), which is the biggest retail investment program in the region.

Revetas Capital has concluded the disposal of Bonarka Meadows in Kraków, a permitted residential development project, to Henniger Investment S.A., a Polish company that has been operating in the investment industry for over 30 years. The price has not been disclosed.