Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, November 9 with Winston Norman, Editor and Chief of EuropaProperty.com.
International investors acquire office complex in Gdynia
Czech real estate open-ended fund INVESTIKA and Luxembourg private equity investor BUD HOLDINGS have acquired the Łużycka office complex of buildings in Gdynia. Colliers represented the sellers in the sale transaction. According to market sources, all the purchased buildings are a great example of a sustainable construction project, located in the dynamically developing business centre of the city.
“The transaction demonstrates the resilience of the regional office investments market in Poland and proves again that institutional-quality office assets with high-quality office tenants and impeccable retention record will continue to generate traction among key institutional investors,” says Piotr Mirowski, Senior Partner and Board Member at Colliers.
“Łużycka Office Park and Łużycka Plus offered an interesting investment opportunity how to strengthen our portfolio by adding quality office buildings with a long WAULT at one of the most attractive locations in Poland,” says Václav Kovář, the portfolio manager of the INVESTIKA real estate fund.
Jysk opens 143,000 sqm distribution centre in Hungary
The 143,000 sqm logistics facility of the Danish furniture retailer will serve more than 200 retail units in Hungary, Slovakia, Croatia and Slovenia. Online sales will be managed also from this centre. The complex was built by the Hungarian construction company Market Group.
The Scandinavian firm spent €200 million to build this huge complex which is near Budapest and the main international airport of Hungary.
Approximately 150 trucks are expected to roll into the centre every week, a number that is expected double in a few months. The facility also includes 189 delivery ramps, as well as an office building on a 560,000 sqm plot. There is enough space on the plot to build two more high-bay warehouses, which could double the storage capacity.
S Immo acquires office properties in Budapest
S IMMO acquired 8 properties and one plot of land from its new parent company and majority shareholder CPI Property Group in Budapest. The purchase of around 109,000 sqm of lettable space is expected to increase the annual rental income by around €16 million.The transaction volume amounts to €238.3 million.
Herwig Teufelsdorfer, a Member of the Management Board of S IMMO AG, commented: “It is our declared goal to position S IMMO as a major player in its markets with regard to office properties. With this purchase, we have taken a major step in this direction and added high-quality properties to our portfolio.”
New Work expands operations in Budapest and Warsaw
Flex office operator New Work has continued to expand in its key markets. In Budapest, the company opened the second phase of its business centre in the Science Park office building in South Buda, adding 2,000 sqm of high-quality flex office space to the local market. In Warsaw, New Work opened a brand location, offering 1,135 sqm, in the Tulipan House office building in the city’s Służewiec district.
The first phase of New Work Science Park opened in April 2021, offering 1,929 sqm of modern flex office space with 280 workstations. The second phase of the business centre, which opened in September 2022, adds another 1,929 sqm with 229 workstations to New Work’s offer in the rapidly developing South Buda part of Budapest.
Clients are offered a wide range of private offices sizing from 2 to 37 workstations. Fully furnished and ready-to-move-in lockable spaces with full office infrastructure are complemented with several meeting rooms, common areas for relaxation with a pool table and Xbox consoles, alongside other amenities.
“Demand for serviced offices continues to grow as companies learn to look at office space as a service,” says Hubert Abt, CEO, and Founder of New Work.
Coca-Cola chooses Skyliner in Warsaw
Coca-Cola Poland Services has signed a lease agreement for nearly 2,400 sqm of space in Warsaw‘s Skyliner office building. The company will move its Polish headquarters to the Karimpol Group‘s flagship project located at the Daszyńskiego Roundabout in early 2023.
“We have attracted a world-renowned and iconic brand company. This underlines the position Skyliner has gained in the market and allows us to win high-profile international companies,” said Andreas Prokes, Managing Director and Co-owner of Karimpol Group.
JLL represented the tenant in the transaction while the Karimpol Group was represented by the CBRE team.