Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, June 21, with Winston Norman, Editor and Chief of EuropaProperty.com.
Czech Republic among top 3 countries in industrial investment stability
According to Savills’ latest European Logistics Outlook, industrial investment volumes, which totalled €5.1 billion, declined by 49 percent q-o-q and by 73 percent compared to Q1 2022, which was notably a record high. Compared to the same period last year on a country-by-country, the Czech Republic (-3 percent) recorded the smallest declines in investment volumes year-on-year.
Poland witnessed an uplift in investment. Poland saw a 110 percent increase year on year, mainly driven by the purchase of a 185,000 sqm industrial warehouse by P3 Logistics Parks from Panattoni.
Fraser Watson, Investment Advisory Director at Savills CZ&SK, says: “The Czech industrial market has shown a high degree of resilience to the wider macroeconomic forces at play across the continent.”
Andrzej Wronski appointed Managing Director of P3 Romania
Andrzej Wronski, Group Head of Asset Management for P3 Logistic Parks, will be taking over the role of Managing Director for P3 Romania. In this role, Andrzej will be responsible for leading the strategic direction of the business. He will assume the role in addition to his current responsibilities.
Frank Pörschke, CEO of P3 Logistic Parks, commented: “P3 has a solid asset with low vacancy and a strong team in Romania. We will continue to focus on strengthening our assets and on consolidating the relationships with our tenants.”
Rhenus takes a new building in Segro Logistics Park Warsaw
Rhenus Office Systems has moved into a new facility with an area of 8,500 sqm in SEGRO Logistics Park Warsaw.
“The new building for Rhenus Office Systems was built with the use of Building Intelligence Modeling, which allowed us to maximize its ergonomics and to plan solutions already at the design stage that will allow it to obtain BREEAM certification at the Excellent level,” says Bartosz Michalski, Development Director, SEGRO.
“The accelerated deadline for commissioning the space allowed us to start operations earlier than we expected,” says Krzysztof Choma Member of the Management Board of Rhenus Office Systems.
“We congratulate Rhenus on its dynamic development and we look forward to further, fruitful cooperation at SEGRO Logistics Park Warsaw, Nadarzyn,” adds Waldemar Witczak, SEGRO Regional Director.
Transformed Marynarska Business Park renamed Diuna
The transformation of the Marynarska Business Park office complex by PineBridge Benson Elliot and Syrena Real Estate is nearing completion. Located in Warsaw, Diuna (formerly Marynarska Business Park) comprises four office buildings with a total usable area of 46,000 sqm.
“Diuna is changing the business image of Służewiec and setting a new direction that office buildings must follow to remain an attractive space for investors, tenants, and the local community,” said Witold Zatoński, the founder of Syrena Real Estate. Completion of all work at Diuna is scheduled for the fourth quarter of 2023.