Hines has advised Mirae Asset Global Investments, a Seoul-based investment manager that offers comprehensive investment services, on acquiring two logistics centres near Wrocław and Konin, with the total area of 163,135 square meters. MAGI acquired them from Blackstone by purchasing shares in special purpose vehicles which owned the investment and appointed Hines as the local asset manager of the portfolio throughout the investment horizon.

At the end of Q1 2019, the total modern Class A industrial stock in the Czech Republic stood at 7.97 million sqm. In the first three months of 2019, the Prague industrial market has exceeded the magical milestone of 3 million sqm, confirming its position as the largest industrial market in the country, followed by the Pilsen and South Moravian markets, according to JLL:

CTPark Sibiu II will receive its first tenants in about two months. The park has a total area of 9 hectares and in the first stage, 13,200 sqm are built-up and pre-leased. At present, only 2,600 sqm are available, the rest of the space is already leased to two companies. Upon completion of all the buildings in the park, the investment in its development will total about €23 million. This is the second investment of CTP in Sibiu after the expansion of a factory completed last year, but it is the first CTP premium logistics park with more tenants in the area.

White Star Real Estate is starting construction of a new business park, named park22, which is adjacent to the Campona Shopping Centre in southern Budapest. This multi-phase offers prospective tenants flexible solutions that reflect today’s market needs including warehouses with mezzanine office units and independent office spaces. In the course of implementing the project, special emphasis is being given to maintaining a healthy balance between green space and buildings, as the 15-hectare site will comprise of 60,800 sqm of lettable warehouse and office space and 53,500 sqm of greenery.

Panattoni Europe commenced the construction of Panattoni Park Sosnowiec II, totalling nearly 80,000 sqm. Panattoni Europe will also build an e-commerce logistics centre totalling in excess of 44,800 sqm for Amazon in Pawlikowice near Łódź, providing permanent jobs to more than 1000 people.

Aberdeen Standard European Logistics Income PLC has acquired a logistics warehouse in Kraków from global real estate developers Panattoni Development Co and Marvipol SA.

French logistics and transport services provider FM Logistic has opened a €20 million dedicated cold storage warehouse in Bucharest to meet demand from the growing pharma and healthcare industry in Romania.

Poland’s warehouse market is set to maintain a strong momentum this year, driven by robust occupier interest with demand outstripping supply for many months and the economy powering ahead.

CTP is starting 2019 with the announcement of ambitious development plans in three of its markets, the Czech Republic, Serbia and Hungary.

The Polish commercial real estate market is in the best shape it has ever been, posting a record-high investment volume that exceeded €7 billion in 2018. Office and industrial sectors, in particular, are setting new highs with last year’s trading volumes at nearly €2.6 billion and nearly €1.9 billion, respectively.