Coffee with Craig Show – daily CRE news covering the CEE region, Monday, September 5, with Winston Norman, Editor and Chief of EuropaProperty.com.
Prime Kapital and MAS plan to invest €2 billion in Romania by 2029
Prime Kapital and its investment partner MAS plan to invest €1.97 billion in retail, office, and residential developments in Romania, by 2029.
The two companies entered a joint-venture partnership in 2016 and are investing predominantly in retail assets, carefully selected residential projects, and, depending on opportunities, other real estate areas. They have secured over 1.5 million sqm of development GLA/GSA.
“Our residential development pipeline is on track with our medium-term goal to deliver 2,000 quality dwellings per year over multiple cities in Romania”, said Maggie Kitshoff, Residential and Office Partner in Prime Kapital.
The two groups plan to invest €517 million in developing or extending enclosed and open-air malls in 10 cities across Romania.
LaSalle launches mixed-use development in central Prague
LaSalle Investment Management has launched the development of 100YARDS in Na Příkopě street in central Prague. The project will transform three separate buildings into one mixed-use complex which will feature a new shopping destination and premium office space. The refurbishment of the complex, originally built in the 19th century, is scheduled to open in the second half of 2024. The project is being designed by architects from Studio acht, and is being managed by Gleeds.
Environmentally-friendly technologies and advanced well-being parameters will inform the project from start to finish. LaSalle will submit the completed project for sustainability accreditation, aiming for a rating of LEED® Gold.
100YARDS will offer significant leasing opportunities. Cushman & Wakefield is the exclusive retail leasing agent for the project.
Hagen Knaupp, Head of Asset Management, Continental Europe at LaSalle Investment Management, commented: “100YARDS will be a new premium retail and office destination in one of the most significant high street destinations in Central and Eastern Europe.”
Václav Hlaváček, Chief Architect, Studio acht, added: “Tenants will benefit from the modern shop and office concepts and a high-quality working environment within a faithfully preserved historical setting.”
Media Expert logistics centre in Łódź officially opens
Representatives from Panattoni and Media Expert, the owner of several hundred electronics stores in Poland, have formally opened the latest section of the Media Expert logistics centre within the Central European Logistics Hub.
Two buildings with an area of 160,000 sqm, one of which has just been handed over for use and the other to be completed within a year, have been connected to Media Expert’s pre-existing building to create a nationwide distribution complex. Together, the three buildings take up 232,000 sqm and are to employ around 1,000 people.
Eventually, the Central European Logistics Hub will have an area of over 720,000 sqm.
The opening ceremony took place on September 2nd with Marek Dobrzycki, the Managing Director of Panattoni, Andrzej Błachowicz, the vice-president of TERG S.A. – the company that owns Media Expert – and Hanna Zdanowska, the Mayor of Łódź taking part.
Marek Dobrzycki, Managing Director of Panattoni commented: “In the end, the opening of another logistics centre built by us for Media Expert is significant for several reasons. Firstly it cements our many-year relationship with a client for whom we have already developed over 270,000 sqm.”
“Today, we are formally handing over a modern automated Media Expert Logistics Park for use. Thanks to this we will be able to meet the demands of the market and supply our customers in the Retail and Omnichannel distribution channels even more quickly and more effectively,” says Marek Grzebita, CEO of TERG S.A., the owner of Media Expert brand.
“It is simply unimaginable that we have managed in such a short time to build an industrial district from scratch that bustles with life, provides new jobs and without doubt drives the development of the city,” says Hanna Zdanowska, the Mayor of Łódź.
Domy Towarowe Wars Sawa Junior welcomes adidas Warsaw
Domy Towarowe Wars Sawa Junior has reconfirmed its unique position in Warsaw. And welcomed a personalized, interactive shopping experience, and the largest selection of adidas products in Warsaw on three floors of the Sawa building at Marszałkowska Street.
In total, adidas uses 2,400 sqm of space. “The opening of the adidas store in Domy Towarowe Wars Sawa Junior is undoubtedly one of the most important events in the Polish retail industry this year,” says Scott Dwyer, Group Managing Director – Retail at Atrium European Real Estate.