Coffee with Craig Show – daily CRE news covering the CEE region, Friday, December 2 with Winston Norman, Editor and Chief of EuropaProperty.com.
MAPIC 2022 concludes with strong industry attendance
This year’s MAPIC hosted over 5,000 participants, including exhibitors and participants from 75 countries. Whilst European exhibitors maintained a strong presence, the growing importance of the Middle East and Asia was reflected in the growing number of exhibitors and participants from these geographies, including those from Saudi Arabia, Kuwait, and Uzbekistan.
MAPIC kicked off on an optimistic note opening with a panel that reiterated the resilience of in-person retail and continued strong performance from retail sectors such as home goods, DIY (home improvement) discount shops, and outlets.
The crucial and growing role of leisure in the retail sector was also an important theme. The opening session dedicated to new trends in leisure showed how the leisure and entertainment sector can create positive impacts for in-person retail.
Key lessons from the F&B (food and beverage) leaders pointed to the increased demand from investors and consumers for the resilient and agile QSR (Quick Service Restaurants) segment—such as fast casual, coffee, and bakery offerings.
In line with MAPIC 2022’s focus on sustainability, the Green means go: Accelerating environmental transition for retail destinations panel also offered a refreshingly frank and pragmatic approach to how retail can reduce its environmental impact.
Ghelamco sells Warsaw’s Plac Vogla retail centre
Ghelamco has sold Warsaw’s Plac Vogla retail centre to the investment group LCP Properties, which also acquired the Prochownia Łomianki retail park from the developer in October.
Opened in 2015, Plac Vogla has 5,000 sqm of retail and service space. Major tenants of the retail park include API Market, Rossmann, LOOP Fitness, Home and Kitchen, and Empik.
“Plac Vogla has perfectly addressed the needs of Wilanów residents, who enjoy spending time and shopping here,” says Jeroen van der Toolen, Managing Director CEE, Ghelamco.
“We continue to have a strong appetite for this type of property, so we are actively securing more facilities that meet our requirements. We want to grow, and the Polish market gives us the opportunity to expand our portfolio with quality retail parks.,” emphasizes Krystian Modrzejewski, Group Operations Director, LCP Properties.
LCP Properties currently owns about 90 retail, office, and warehouse properties in Poland. At the beginning of 2022, the total combined space of the facilities owned by the company exceeded 360,000 sqm, with a value of €460 million.
Mitiska and Karuzela open retail development in Poland
Mitiska REIM and JV partner Karuzela have announced the opening of a new retail development in the Polish city of Kolobrzeg. Featuring 40 retail units with a total gross leasable area (GLA) of 19,800 sqm, the new development is set to be the dominant retail scheme in the region.
Food anchored by a Lidl supermarket, other tenants include a mix of national and international brands which include Sinsay, CCC, HalfPrice, Reserved, New Yorker, Martes Sport, KiK, Pepco, and Media Expert.
Grzegorz Pękalski, a Member of the Board of Karuzela Holding, said: “This latest project is the largest we have opened in Poland and has been successfully delivered despite initial construction challenges due to pandemic lockout restrictions.”
Mateusz Szymczak, Mitiska REIM’s Investment Manager for Poland, comments: “This new retail center is the largest in both the city and surrounding area and brings new retail infrastructure to the region for both shoppers and retailers alike.”
Sylvie Geuten-Carpentier, the Managing Partner at Mitiska REIM, adds: “Shoppers continue to favor retail parks and convenience centers for their needs-based essential spending, and we continue to see strong footfall across our Polish portfolio.”
Allianz and DHL join forces on pan-European logistics development pipeline
Allianz Real Estate has entered into a purchase agreement related to a portfolio of five Grade A logistics facilities in three European countries with logistics leader DHL. The portfolio represents one of Allianz’s largest single logistics sector acquisitions, in terms of gross leasable area, the five facilities will cover over 200,000 sqm.
The facilities are located in the Netherlands, Poland, and Finland and cover four core European logistics sub-markets, including Eindhoven and Warsaw/Gorzow, with the facilities in Helsinki and Warsaw becoming Allianz’s first-ever logistics assets in Finland and Poland.
Kari Pitkin, Head of Business Development Europe, Allianz Real Estate, said: “This high-profile transaction with a new prime partner in DHL further underscores the value Allianz Real Estate places on high-quality logistics assets in core markets in both established and fast-growing sub-markets.”
Joe Mikes, Global Head of Real Estate Solutions at DHL Supply Chain, said: “We are very proud to be able to offer our clients effective growth opportunities, with warehouses that are not only located in core markets and fulfill our client’s needs, but also meet the highest ESG and sustainability criteria.”