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GARBE sold Green Park Piešťany, the new owner is Patria investiční společnost
GARBE Industrial Real Estate CEE has completed the sale of GARBE Green Park Piešt’any in Slovakia. The buyer is Patria, part of ČSOB. GARBE will remain as the property manager.
GARBE Green Park Piešt’any was the company’s flagship sustainability project in the CEE region. “We entered the Central and Eastern European markets four years ago. We have built several industrial parks that meet high technical requirements and sustainability certifications,” says Martin Polák, Managing Director of Central & Eastern Europe at GARBE Industrial Real Estate GmbH.
Nina Kozáková, Chairman of the Board of Patria investiční společnost, commented on the transaction: “The attractive location, excellent tenants, long lease contracts and the developer’s responsible approach to sustainability and quality are in line with our investment strategy.”
Torus sells Format office building in Gdansk
Private equity fund Greenstone has acquired an almost 80 percent stake in a special purpose vehicle owning the Format office building in Gdańsk. The vendor was Torus, which was advised during the transaction process by Cushman & Wakefield and the law firm Greenberg Traurig.
“There is no denying that the current situation in the office market differs a lot from that a few years ago. While a post-COVID correction continues, history shows that high-quality projects are always on the winning side and can positively stimulate the market”, says Sławomir Gajewski, CEO of Torus.
“Greenstone has been investing in the Tricity office market since 2017, generating outstanding returns for its clients,” says Marcin Gajewski, Partner, Greenstone.
“Greenstone’s latest investment is very attractive and will allow us to continue to generate high returns for our investors”, adds Stephane Chauvel, Partner, Greenstone.
Tricity sees strong office demand
According to Newmark Polska, Tricity remains one of the largest office markets in Poland. Despite an overall slowdown in development activity across the country, 2023 was a record year for Tricity with office take-up surpassing 140,000 sqm. Tricity’s total take-up for the three months to March 2024 was 23,400 sqm.
At the end of the first quarter of 2024, Tricity’s office stock was close to 1.05 million sqm, up by 3 percent year-on-year. The largest completion of 2023 was Intel’s head office with an area of 23,000 sqm in Gdansk.
Key projects include the first building of the second phase of Gdynia Waterfront and the second phase of the LPP Fashion Lab in Gdansk.
“Concerns about high financing costs, as well as changing work models amid a trend towards optimizing office footprints continue to drag on development activity,” says Michał Rafałowicz, Regional Director, Newmark Polska.
Semco Maritime is relocating its Gdynia office to the K2 office building
The Semco Maritime engineering team will move into the K2 building in Gdynia, occupying over 1,200 sqm of office space. ITRA Polska advised the tenant throughout the office leasing process.
“We have found an excellent space for our employees in a building that perfectly aligns with our long-term strategy to reduce CO2 emissions,” comments Maciej Grzybowski, Head of Semco Maritime in Poland.
K2 is a six-story office building that offers more than 11,400 sqm of A-class office space. The building is LEED Platinum certified and was the first in Gdynia to receive WiredScore Platinum certification.
“The new headquarters will provide our tenant with the necessary support for business purposes and create comfortable conditions for the professional development of company employees. Additionally, future users will benefit from high-quality working environment parameters, such as good ventilation, optimal lighting, and high acoustic standards, providing excellent conditions for effective work,” says Marek Ulanecki, Senior Leasing Manager at Vastint Poland.
