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HINES EXPANDS LOGISTICS PORTFOLIO IN PRAGUE
Hines acquired a portfolio of four logistics assets, spanning a total of 65,960 sqm, in Prague on behalf of its Hines European Core Fund (HECF), from CPI Property Group.
The fully-let assets are located in desirable, well connected and established last-mile logistics locations in the Czech capital.
This acquisition marks HECF’s eighth logistics purchase, aligning with the fund’s ongoing strategy to assemble a leading-edge portfolio of urban logistics assets in key, supply-constrained urban locations servicing world-class occupiers, with strong long-term growth prospects.
Simone Pozzato, managing director and fund manager of HECF, Hines, said: “We continue to broaden our exposure to the logistics sector, targeting supply-constrained locations across major European cities, with attractive long-term growth prospects. Each of the four assets is situated in prime urban locations backed by strong market fundamentals and major tenants in situ for the long term, which we believe will provide stable distribution and strong long-term appreciation potential for our investors.”
PANATTONI LAUNCHES NEW LOCATION IN CENTRAL POLAND
Panattoni is to open up a new warehouse market in Central Poland. The developer has purchased a site in Pabianice, where it plans to deliver a park with a total area of 95,000 sqm. The first building is to be completed this June and has already been leased to a leading electronic store chain. The three-building complex is to undergo BREEAM certification at the ‘Excellent’ level.
“There are dozens of reasons for investing in the Łódź region, all of which apply to Pabianice. Located by the S14 road, it is well connected with the city, while there are also two motorways a short distance away – one running north-south and the other east-west across the country – providing easy access to the whole of Poland,” says Katarzyna Kujawiak, Development Director in Panattoni.
“We hope that the development of the logistics park will give new impetus to investment in this area, which will be beneficial for both the development of the city and its inhabitants,” says the Mayor of Pabianice, Grzegorz Mackiewicz.
SCALLIER SIGNS TEDI AND HERVIS IN ROMANIAN RETAIL PARKS
German non-food retailer TEDi and the Austrian chain of sports stores Hervis will open their shops in newly emerging retail parks in Romania developed by the Polish company Scallier. In total, the new stores will occupy an area of nearly 5,500 sqm in the facilities located in Timisoara, Vaslui, Mosnita, Turda (TEDi) and in Vaslui and Turda (Hervis).
“Entering the Romanian market is a consequence of the dynamic development of the country itself. Residents of Romanian expect an extensive, modern and commercial offer, available, but not only, in the largest agglomerations,” says a company representative.
“The addition of the TEDi and Hervis brands to the group of our tenants underlines the high quality of our facilities. Scallier’s goal is to create an attractive offer for residents who will find a wide commercial offer close to their place of residence, including brands from the following sectors: food, fashion, sports and electronic products,” says Wojciech Jurga, Managing Partner at Scallier.
“These real estate offerings complement each other and create commercial locations that are the first choice for local communities when it comes to shopping,” says Adrian Aleman, Development Director at Scallier’s Romanian branch.
All projects will be certified in the ecological international BREEAM certification system.
VIA OUTLETS APPOINTS TWO NEW BOARD DIRECTORS
VIA Outlets – the leading owner-operator in redefining the outlet shopping experience with a portfolio of eleven premium outlet centres in nine European countries – has announced two senior additions to its Board of Directors. Jaap Tonckens, currently an advisor to the Board, was recently appointed as a Non-Executive Member of the Board, whilst Rita Schroeven, the company’s Head of Legal Affairs, is taking up a role as an Executive member of the Board.
Otto Ambagtsheer, Chief Executive Officer of VIA Outlets, commented: “Having two such high calibre people as Jaap and Rita joining our Board illustrates VIA Outlets’ status as a leading organisation playing an essential role in the retail industry. Their combined wealth of experience across commercial real estate, finance and law will be instrumental to our continued growth in the coming years, as we continue implementing our established 3 R’s strategy to generate returns for our shareholder APG and create value for brand partners and guests alike.”
Real estate business confidence and expectations of profitability have dropped to a low level, reflecting widespread industry concerns across an array of indicators for the business, political and real...