As the world is going through an unprecedented crisis, it is important to recognise the resilience of the real estate market and its contribution to the economy. During these challenging times BNP Paribas Real Estate, as a leading international real estate provider, continued to support its staff and clients and despite the slowing market, the business has successfully secured major deals all over Central and Eastern Europe.
In Poland, a joint venture between Origami Capital Partners (USA) and 4 Friends Investment (Germany) has recently acquired a portfolio comprising five commercial properties owned by Tesco located in major Polish cities. The Kaufland chain has become a new anchor tenant for large-format stores. BNP Paribas Real Estate Poland Capital Markets advised the investor on the purchase. The company will be responsible for property management and leasing.
Karolkowa Business Park and Crown Square – BNP Paribas Real Estate Poland’s office agency team has become the exclusive agent responsible for leasing two office buildings located close to Daszyński roundabout.
Nexans, one of the world’s most important players on the cable and wire market, will move into Panattoni Park Szczecin II. The company has leased almost 5,000 sqm of warehouse and office space in a modern facility located near the A6 motorway. The lease transaction was led by the BNP Paribas Real Estate Poland Industrial and Logistics Agency.
In Romania, as the exclusive agent of Hexagon Offices building located in Cluj Napoca, BNP Paribas Real Estate has already leased nearly 80 percent of the building. The Property Management team is handing over an almost fully leased building with 21,600 sqm GLA.
The Czech Republic’s Industrial & Logistics Agency team has arranged the land acquisition and warehouse lease for Gienger, one of the wholesale leaders in heating, plumbing and sanitary engineering. Gienger, moved into its new warehouse space (10,000 sqm) in the BigBox complex in Horní Počernice in March. Moreover, the company plans to build its own warehouse facility on the land near Opava.
The Office Agency team supported RENAULT with re-negotiating the office space lease of 2,400 sqm in a legendary building in Prague’s Karlin – the International Business Center near Florenc. As the landlord offer met all expectations and requirements of the client, the business decided to prolong the agreement and stay in the building, which RENAULT has occupied for almost 25 years.
“The arrival of the pandemic took us all by a bit of a surprise. We had to face many challenges as clients’ needs changed that required an immediate response. Many transactional decisions needed to be re-evaluated as bank financing in our industry came to a hold and yield levels were being questioned. Occupiers were not able to see their potential new premises and many retailers are challenging their rents. Despite that, owners, developers and occupiers are eager to continue transactions and we completed some major office and industrial leasing deals as well as the acquisitions of five retail schemes. Thanks to the efforts and drive of the teams we managed to maintain business continuity and we look forward to new challenges that the future will bring,” commented Erik Drukker, CEO CEE, BNP Paribas Real Estate.