ARTICLES LABELLED WITH TAG Warsaw

North Gate, an office building in Warsaw, has seen completion of its comprehensive upgrade, with all its communal areas fully refurbished and new amenities provided to tenants.

Colliers International has taken over the management of the Astoria Premium Offices building, located in the heart of Warsaw. Astoria Premium Offices is a 12-storey modern office building. It offers 19,500 sqm of leasable space and provides access to 86 underground parking spaces. The building has LEED certification at the Platinum level.

Madison International Realty has acquired a stake in the newly developed Chmielna 89 office building in Warsaw’s CBD from the Cavatina Group. The acquisition values the project at over €100 million. Chmielna 89 is fully let to Poland’s largest, PKO BP, on a ten-year lease.

Panattoni has begun construction on City Logistics Warsaw V in the city’s Rembertów district with a total area of over 11,000 sqm. The building is dedicated to Warsaw logistics and has been built with Small Business Unit modules with a minimum size of 1,080 sqm. The work is to be completed in Q2 2021.

Polish shopping platform Allegro has leased nearly 16,200 sqm at the Norblin Factory in Warsaw. The tenant was represented during its negotiations with the Capital Park Group by global real estate advisory firm Cresa.

The first building of the Resi4Rent project, being part of the Warsaw Brewery, has obtained its occupancy permit. In the all-purpose part of Warsaw's Wola district, revitalized by Echo Investment, Resi4Rent has developed 450 apartments for long-term rent. The first tenants have been moving in.

CPI Property Group announced the acquisition of Concept Tower office in Warsaw, Poland. Concept Tower represents CPIPG’s 14th office property in Warsaw. The Group is now the largest owner of offices in Warsaw by GLA, with a portfolio of 314,000 square metres.

New research from Cushman & Wakefield has identified Berlin, Reykjavik, Oslo, Warsaw, Zurich, Milan, Vienna, Madrid and Prague as emerging hotspots for data centre development in Europe. The European data centre market has long been dominated by the ‘FLAP-D’ markets of Frankfurt, London, Amsterdam, Paris and Dublin, cities with their own deep business and financial sectors to serve. While these markets are still critical to the data centre ecosystem as entry points - and with over 500 MW of construction underway among them - interest in the FLAP-D markets is now competing with physical limitations including a lack of energy to power the centres, limited stock and a need to be closer to regional users.

Panattoni has announced another Warsaw development, which is to be built on a 1.9 ha site next to the S7 junction with the S8 expressway just a few kilometres from Warsaw's Chopin Airport. City Logistics Warsaw Airport II will have an area of 9,000 sqm and construction work is to begin in August.

The lockdown period and the uncertainty of the economic impact of the coronavirus pandemic pushed some tenants to temporarily withhold their decisions in pending lease negotiations. Gross take-up climbed to 334,800 sqm in H1 2020, representing a 17% decrease on the same period in 2019, with most transactions having been commenced in the pre-pandemic environment. Cushman & Wakefield summarised H1 2020 on the Warsaw office market.