Coffee with Craig Show – daily CRE news covering the CEE region, Monday, September 12 with Winston Norman, Editor and Chief of EuropaProperty.com.
Revetas Capital opens first phase of Millennium Gardens
The first phase of the Millennium Gardens office building has opened its doors with an occupancy rate of over 90 percent, following an investment of €150 million from Revetas Capital for the development of the North Tower.
The North Tower office building is the final element of the Millennium City Center project in Budapest, developed by TriGranit. The total leasable area of the North Tower is 21,600 sqm. The building was designed with sustainability in mind, using modern architectural solutions, in line with BREEAM “Excellent”, Access4You “Gold” certifications and outstanding ESG compliance.
Eric Assimakopoulos, Founding Partner at Revetas Capital, declares: “ESG matters become an integral part of the firm’s DNA in line with our commitment to carbon neutrality by 2040. Millennium Gardens is an exemplary showcase of responsible building standards and reducing the environmental negative impact across our portfolio of assets.”
“It is always a pleasure to open a new office building, but Millennium Gardens is unparalleled for us as this building is the final element of Millennium City Center,” said Tom Lisiecki, CEO of TriGranit.
”TriGranit started the revitalization of the brownfield site of about 12 hectares in 1997 and this exceptional city centre will now be complete with Millennium Gardens,” said Károly Dömötör Makk, Lead Leasing Manager of TriGranit.
Trei opens another three Vendo Parks in Poland
Trei Real Estate has opened another three retail parks of the Vendo Park brand in Poland. The properties’ investment volume is around c.€28.4 million. The three new retail parks have a total leasing area of around 22,300 sqm.
The three new openings bring the Vendo Park portfolio of Trei up to a total of 41 retail parks, 31 located in Poland and the others in the Czech Republic and Slovakia. “Demand for retail parks continues to follow an upward trend in Poland,” commented Pepijn Morshuis, CEO of Trei Real Estate.
The three retail parks were developed together with the investor Patron Capital. Within the framework of a joint venture with Patron, Trei plans to develop roughly another twenty Vendo Parks with a combined value of €140 million.
Wiktor Lesinski, Investment Director at Patron Capital, commented: “The company is very closely networked through its subsidiary, Trei Real Estate Poland, and has been able to gather a wealth of knowledge in the construction and management of retail parks in recent years.”
Hillwood to build warehouse park near Łodź
Hillwood Polska has started the construction of a new logistics centre in the Górna district of Łódź. The complex, which is scheduled to come into use in Q3 2023, will comprise more than 97,000 sqm of warehouse space.
“Thanks to its location in the heart of the country, close to the junction of the A1 and A2 motorways, Łódź has become one of the most important locations on Poland’s logistics map,” commented Hubert Michalak, CEO of Hillwood Polska
Griffes appointed leasing agent on Liberty Technology Park
White Star Real Estate is planning to launch the next phases of the Liberty Technology Park development in Cluj-Napoca, with a total investment of €75 million. The projects will be developed on available land of 20,000 sqm and will include 32,000 sqm of office space within three buildings.
Designed on the site of the former furniture factory Liberty Technology Park is converting the industrial heritage into a contemporary technological hub. Currently, the compound is predominantly occupied by internationally renowned tech and R&D centres.
“Liberty Technology Park is pioneering the conversion of a former industrial area into a modern urban designed to address diverse needs of living, working and entertaining,” said Emilian Balan, Managing Director of Liberty Technology Park and Country Partner of White Star Real Estate Romania.
Real estate advisory firm Griffes has been appointed as the leasing agent for Liberty Technology Park.
“We are eager to capitalize on the knowledge we have gained after more than 4 years of working in regional cities, especially Cluj-Napoca, and to partner with White Star Real Estate in their endeavour to move the project forward,” said Andreea Paun, Managing Partner of Griffes.
