Coffee with Craig Show – daily CRE news covering the CEE region Tuesday, February 15 with Winston Norman Editor and Chief of EuropaProperty.com – 8,000 viewers weekly – 14,000 viewers on the Executive interviews.
PANATTONI OPENS DISTRIBUTION CENTRE FOR ACTION NEAR TYCHY
Panattoni has announced the official opening of a new logistics centre for Action in Bieruń near Tychy. The 60,800 sqm facility has been built as a BTS in record time. The project has been BREEAM certified at the ‘Excellent’ level, obtaining the highest score so far at this level among Polish facilities in this category.
The facility built by Panattoni is to serve as a new distribution and logistics centre for Action, an international non-food discount chain from the Netherlands. Action offers products from 14 categories, including home furnishings, sports and office products, fashion and accessories such as cleaning products, tools, etc. In less than five years, the company has built up a network of 176 stores across Poland.
“The rapid expansion of the Action network required additional distribution facilities. Since we have specialised in the most complex BTS projects for years, we were able to provide such support, including when it came to the location. In addition, we started construction in February last year and the facility was ready at the end of September,” comments Marek Foryński, the BTS Managing Director at Panattoni.
“This investment will significantly improve our logistics processes in Poland. It already supplies 90 shops nationwide,” says Sławomir Nitek, General Director Action Polska.
FINANCIAL AND IT SECTORS DRIVE OFFICE DEMAND IN BUCHAREST
Financial companies were the most active in the Bucharest office lease market during 2021, according to a report by real estate consultancy Cushman & Wakefield Echinox. In addition to the financial sector, office demand also came from healthcare operators, as well as technology and retail companies.
Mădălina Cojocaru, partner office agency Cushman & Wakefield Echinox, says new demand for office space has come from firms expanding and hiring staff.
The top leasing transactions closed last year included Medicover with 15,000 sqm, Wipro with 11,000 sqm, Provita with 11,000 sqm and Allianz Țiriac with 4,700 sqm. Office deliveries totalled 244,300 sqm last year, up 54 percent in 2020. More than half of the space was in the centre-west area of Bucharest.
In terms of future supply, projects totalling around 224,000 sqm are currently under construction and expected to be delivered in 2022 and 2023, down 44 percent versus the volumes completed in 2020-2021.
At the end of 2021, the stock of modern office space reached 3.19 million sqm, while the vacancy rate increased slightly to 14.9 percent.
MULTI SIGNS LEASE FOR NEW PRIMARK STORE IN MAGNOLIA PARK
Multi, one of the leading commercial asset management companies in Europe, has signed an agreement for a two-storey Primark store which will open in Multi Poland-managed Magnolia Park SC. The opening of the Primark store in Magnolia Park is planned for 2023, following a significant refurbishment and layout programme to upgrade the shopping centre.
“We are very pleased to be welcoming another high-profile retailer in Primark to Magnolia Park. The agreement reinforces that our approach of improving and redeveloping space for the benefit of tenants is clearly effective,” said Frederic Rouleau, Country Asset Manager Multi Poland. “It also requires an extensive network of contacts in the retail industry across Europe and an understanding of changing customer preferences.”
HELLOPARKS PREPARES FOR NEXT PHASE OF LARGE PROJECT NEAR BUDAPEST
HelloParks, a member of Futureal Group, has already handed over its first 46,000 sqm warehouse in Maglód which is operating with more than 80 percent occupancy. Preparations for the next 45,000 sqm phase (MG3) have begun. The new building is planned to be handed over in Q4 2022
In January, shortly after receiving the Excellent certificate for the Design Stage in BREEAM’s New Construction category, HelloParks began preparations for the Post Construction certification. With this, HelloParks became the first industrial and logistics real estate developer in Hungary to build its facility according to the most complex sustainability and environmental criteria right from the design phase.
The first 46,000 sqm warehouse was built by Market Építő Zrt. The new building will also be built by Market. The investment value of the new phase is close to €50 million like it was at the first phase.
COLLIERS CZECH REPUBLIC APPOINTS NEW HEAD FOR INDUSTRIAL & INVESTMENT TEAMS
Mark Richardson has been newly appointed to oversee both the Industrial and Investment teams at Colliers Czech Republic. Mark is no stranger to the Czech or CEE markets, which is where he started his career about two decades ago at C&W in Prague as Head of Capital markets, moving on to become the director of Pradera, a retail investment management company, where Mark’s role was primarily overseeing CEE, then joining the Colliers Investment team in Poland, before coming back to Colliers in Prague.
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