Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, June 21 with Winston Norman, Editor and Chief of EuropaProperty.com.
Invesco and Panattoni complete sale of Airport Logistics Park in Gdansk
Invesco Real Estate and Panattoni have completed the sale of a Grade A logistics park with a total lease area of c. 110,000 sqm in Gdansk, Poland. The asset was sold to EQT Exeter.
Panattoni Park Gdansk Airport sits directly adjacent to Gdansk’s Lech Walesa Airport and includes a Big Box warehouse and four last-mile and cross-dock buildings, making it one of the largest facilities in the region.
Four of the five newly constructed buildings qualify as BREEAM Very Good. The now completed facility is currently 93% leased, underscoring the strength of the location and attractiveness of the facility.
Petr Sramek, Director, Transactions at Invesco Real Estate, said: “The Polish market continues to experience strong demand for prime logistics properties. This major transaction is a testament to the long-term strength of Poland’s real estate market, with international, core investors willing to make new acquisitions in the region despite the conflict in Ukraine and the uncertainty it has created.”
Robert Dobrzycki, CEO and co-owner of Panattoni Europe and India, added: “The Polish logistics market is the largest and one of the most mature in Central Europe and the low vacancy rate at this newly completed park in Gdansk illustrates just how strong demand is for prime logistics assets.”
The completed sale was advised by CBRE, Greenberg Traurig and PwC.
Supernova buys four shopping malls in Slovakia
Austrian real estate group Supernova has added four MAX shopping malls to its portfolio of eleven OBI supermarkets in Slovakia. The four malls will be optimised and certified by the new owner according to eco-friendly and energy efficiency standards, as Supernova has committed to do in all its centres.
“It’s great that we have been able to make this move and thus take a key position in retail real estate, already in the fifth market for us,” said Markus Pinggera, CEO of Supernova.
In addition to the eleven OBI stores that the company has been operating in Slovakia already since 2016, it has now added multi-purpose properties with different types of tenants ranging from retailers and restaurants to cinemas. On average, the centres are 15,000 sqm, which is more than 60,000 sqm in total.
Ryan Lee appointed CEO of Atrium European Real Estate
Ryan Lee has assumed the position of CEO of Atrium European Real Estate. In his new role, Ryan will succeed Liad Barzilai, who has been with Gazit and Atrium for more than 15 years and will remain with the company in an advisory capacity until the end of 2022 and will actively support Ryan’s transition of responsibilities.
Over 500,000 sqm of new retail space planned in Romania
The retail market in Romania is set to expand by more than 500,000 sqm in the next four years, with 10 of the projects in the pipeline each having more than 10,000 sqm, according to Cushman & Wakefield Echinox.
The total stock of retail space across the country reached 4.14 million sqm at the end of Q1 2022, of which 2.88 million sqm was in regional cities and another 1.26 million sqm in Bucharest.
“Almost all developers present in the local retail market have announced ambitious investment plans for the next period, thus showing once again their confidence in this real estate segment,” said Bogdan Marcu, partner, retail agency Cushman & Wakefield Echinox.
The biggest delivery planned for this year will be Alba Iulia Mall, with a leasable area of 28,900 sqm that is developed by Prime Kapital and MAS RE.
Yareal starts Neowo residential estate in Warsaw
Yareal’s very first investment in Warsaw’s Bemowo district will be located just 300 meters from the planned Chrzanów metro station. Sales have already started for 164 apartments. Once complete, the investment will be partially powered by its own solar power plant.
“By building NEOWO, we are introducing urban and architectural order to a dynamically developing part of the district which, in its next stages, will be included in the expansion of Warsaw’s second metro line and will have its own underground railway station,” explains Jacek Zengteler, vice president of Yareal.
The first of NEOWO’s residential buildings, designed by BDM Architekci, will be between 4 – 7 stories high and will create a new urban quarter in this part of the capital.
NEOWO will undergo BREEAM green building certification and is expected to achieve a Very Good rating.