JLL has become the exclusive leasing agent for all of Adgar Poland's office space located in Warsaw, namely the Adgar Plaza and Adgar Park West complexes as well as the Adgar Wave and Adgar Bit buildings. In total, experts from JLL will be responsible for the commercialization of vacant space in a portfolio of more than 120 000 sqm of office space.
Globalworth has signed a preliminary sale and purchase agreement with Cavatina Holdings SA to acquire two office developments in Poland, in Warsaw and Krakow, on their completion scheduled for Q1 2020. The maximum transaction consideration for the two assets has been set at €185 million, with the final consideration to be determined on their leasing status at completion and after customary deductions.
According to data by JLL, the value of office investment transactions concluded from the beginning of 2019 came in at nearly €2.8 billion, equating to 2018's total performance. What is particularly noteworthy is that office regional markets achieved record-breaking results of over €1 billion.
Futureal Group has acquired the Antares office building in Warsaw, Poland. The 16-year-old complex will be fully modernized and repositioned in order to exceed the higher expectations of tenants. Cushman & Wakefield has been appointed as sole letting agent for the project.
Leasing volume on the Warsaw office market hit 688,500 sqm in the first three quarters of 2019, of which nearly 65% was transacted under expansions and new deals. Cushman & Wakefield presented an overview of the Warsaw office market after Q3 2019.
Adventum International, a Malta-based boutique investment fund manager, has acquired the 10,000 sqm office building Renaissance Plaza in the most dynamically growing area of the Polish capital from REInvest Asset Management, a Luxembourg-based asset and fund manager. The 7-storey, Class B+ office building is fully leased to Orange Polska S.A.
Aberdeen Standard European Logistics Income PLC has exchanged contracts to acquire a newly built fully income-producing logistics warehouse in Warsaw, Poland, for a purchase price of €27.5 million providing a net initial yield of 5.64%. The agreement is with developer Panattoni Development Europe and Marvipol Logistics. Completion of the acquisition is currently scheduled for later in the month.
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