ARTICLES LABELLED WITH TAG retail

Focus Estate Fund is expanding its operations in Poland with the acquisition of Ferio Legnica (a shopping centre in the city of Legnica in southwestern Poland) from Austria's Raiffeisen Bank International. CBRE represented the seller in the transaction. Czabański & Gałuszyński together with Gleeds and KKLW advised the buyer. The price has not been disclosed.

The historic building will offer 4,600 sqm of office and 340 sqm of retail space in the very heart of the Hungarian capital. The opening is expected at the end of January.

Some 100,000 sqm of new retail spaces were delivered last year in Romania, of which 80% were integrated in retail parks, while new projects with a leasable area of around 230,000 sqm are expected in 2023, which would be a 6-year high, according to Cushman & Wakefield Echinox.

Property group NEPI Rockcastle, the largest owner of shopping centres in Romania, has secured a green loan totalling €‎60 million for Ploiești Shopping City from a syndicate of banks. 

Vastint has received a permit for the renovation with change of function of the first three historical buildings in the Stara Rzeźnia complex in Poznań in Poland. As part of the work, they will be restored and transformed into office buildings. The plan to revitalize the rest of Stara Rzeźnia is currently the subject of public consultations organized by the City of Poznań authorities as part of the procedure for adopting a local plan.

Colliers has prepared a report that comprehensively analyzes the role of mixed-use projects in Polish cities – in terms of investment, architecture, and city-forming functions.

Commercial property investment in Romania totaled €1.25 billion in 2022, up 40% compared to the previous years, of which the biggest single deal was Pavăl Holding’s acquisition of CA Immo’s office portfolio for €600 million, according to real estate consultancy JLL România. Last year's result was the biggest since 2008.

Upward pressure on rental rates and rising construction costs on the one hand and a growing focus on ESG and repositioning of commercial buildings on the other. Faced with the current pace of change in the real estate market, many investors are looking at 2023 with a degree of uncertainty. Are there any reasons to be fearful? And how will the economic slowdown shape trends and sentiments in each real estate sector in the short term? Cushman & Wakefield answers these questions and more in the fourth edition of its "Trends Radar" report, which presents forecasts and potential development trends for the Polish real estate market.

This is the first shopping centre in Hungary to be given such an award in the construction phase. The property, developed by the Hungarian company Futureal was opened in late 2021. 

The volume of land sales for commercial real estate projects in Romania (excluding for traditional industrial and logistics projects) reached around €450 million in 2022, down from almost €800 million euros a year earlier, according to estimates by real estate consultancy Colliers.