Coffee with Craig Show – daily CRE news covering the CEE region, Monday, June 26, with Winston Norman, Editor and Chief of EuropaProperty.com.
Cautious optimism in Poland’s retail market
According to a new report by JLL, Poland’s retail market is seeing incremental growth despite unforeseen challenges which have arisen over recent years. Challenging market conditions persisted in the first months of 2023, however, improvements in a number of indicators are expected in the short to medium term.
In the first quarter of 2023, the most attractive segment was retail parks. 2023 saw new supply in this format reach nearly 67,000 sqm, accounting for 65 percent of the retail sector’s total output during the period.
”Physical expansion is primarily being pursued by rapidly growing discounters. One example is Dealz, which recently announced plans to double the number of stores in Poland, with 340 units to be open by the end of 2023,” says Maciej Kotowski, Director of Research & Consulting, JLL.
New flagship Adidas store opens in Designer Outlet Sosnowiec
Designer Outlet Sosnowiec has welcomed a new Adidas flagship outlet store. The Adidas store has almost 1,000 sqm, making it the second largest in Poland right behind Designer Outlet Warszawa, which is also managed by ROS Retail Outlet Shopping.
“The indicators speak for themselves: last year’s sales in Designer Outlet Gdańsk, Designer Outlet Sosnowiec and Designer Outlet Warszawa were on average 32 percent higher compared to 2021, while footfall reached an increase of almost 25 percent over the same comparative period,” says Mireia Rodríguez Burguera, Leasing Director at ROS Retail Outlet Shopping.
Kostal invests in Poland
KOSTAL, a German system supplier to the automotive sector, has signed a lease for over 17,000 sqm of manufacturing space in Panattoni Park Lublin IV. KOSTAL was advised on the choice of location and during the negotiations by Cushman & Wakefield.
“This marks just the beginning of the operations of the KOSTAL Group in Poland with huge future growth potential,” said Radosław Szkup, Managing Director, KOSTAL Automotive Poland.
“Disruptions to global supply chains and manufacturing which have impacted the automotive industry are increasingly incentivizing companies to adopt nearshoring strategies and relocate to sites guaranteeing business continuity,” says Magdalena Muszyńska, Negotiator, Industrial and Logistics Agency, Cushman & Wakefield.
“KOSTAL is another major automotive company that has appreciated our facilities in the Lublin area,” says Katarzyna Osińska, Development Director, Panattoni.
LeverX takes 3,200 sqm at Retro Office House
LeverX, an international company that is an official partner of the German SAP company, will lease 3,200 sqm in Retro Office House in Wroclaw. JLL advised the tenant during contract negotiations. “The key issue for us is to be close to our customers, as well as to create a comfortable environment for our employees,” says Dzmitry Jabłoński, Managing Director of LeverX Poland.
