ARTICLES LABELLED WITH TAG Warsaw

CPI Property Group announced the acquisition of a 50.3% stake in the Chałubinskiego 8 office building in central Warsaw. The stake has been acquired from First Property Group for €44 million. 

6B47 Poland has acquired a 0.22 ha site on ul. Grochowska in Warsaw’s Praga Południe district from petrol station operator Circle K for the development of a 12,000 sqm student housing project. The developer was advised by BSWW Legal & Tax, Accace and ó TPA Real Estate Services.

Penta Real estate has submitted a building permit application to the Warsaw city council for the development of a new office project in the city’s Wola district, at the intersection of Miedziana and Pańska Streets. The developer acquired the 0.63 ha site in 2015 for PLN 50 million.

Colliers International has taken over the management of Prosta Office Centre in Warsaw. The current owner of Prosta Office Centre is KGAL Investment Management which acquired it from Cromwell Property Group at the beginning of this year.

Skanska has been assigned to construct a new medical faculty for the Cardinal Stefan Wyszyński University in Warsaw (UKSW).

The coronavirus pandemic has had a relatively benign effect on the Q1 2020 Warsaw office market figures, according to the latest Savills research. However, tenants already started to optimize costs which soon may increase the number of lease renewals and subleases. Companies will look for more flexible lease terms and cost-effective locations.

During the first three months of 2020, demand on the Warsaw office market was nearly 139,000 sqm, which almost matched the Q1 performance of last year. The vacancy rate fell by 0.3 pps, while 770,000 sqm is under construction. JLL summarised the Warsaw office market in Q1 2020.

Warehouse developer 7R is to build a specialized facility for Cefea – a company dedicated to the manufacturing, distribution and import of pharmaceutical products. The tenant will move into 7R City Flex Warsaw Airport I in July of this year.

Yareal has signed a contract to sell the Nowogrodzka Square office building to a French fund managed by Amundi Real Estate. The transaction includes a Class A office building covering an area of 11,000 square meters, as well as an underground garage with 148 parking spaces. Nowogrodzka Square was opened in the fall of 2018.

OKAM Global Commercial, a new commercial real estate company founded by residential developer OKAM Capital, has appointed Savills as property manager for its recently acquired office building at 16 Lindleya Street in Warsaw.