On 24 January 2019, Hines, the international real estate company, and Zeus Capital Management, announced the completion of the sale and purchase of the Graffit building. The property owned by Hines Russia & Poland Fund (HRPF) was sold to TAN Poland Sp. z o.o., a company managed by Zeus Capital Management (Zeus). This is Zeus’ first investment in Poland and it is part of its commercial real estate platform dedicated to Central and South East Europe.
WeWork, the global shared workspace company, has signed more space at Browary Warszawskie. Its first members moved into the Biura przy Bramie building a few weeks ago, and the developer confirms now that it has rented more space at the next building of Browary Warszawskie – Biura przy Willi. With these parts combined, WeWork will create one of the largest shared workspaces in Poland, providing space for over 3,000 members, in Echo Investment’s project.
Mariola Bitner, an experienced and certified project manager, joins the Polish Project & Development Services team of global real estate services firm Cushman & Wakefield. As an Associate, Mariola will support the team leadership to manage operational and financial matters, manage key internal and external client accounts and interface with other Cushman & Wakefield teams, both in Poland and internationally.
Brokerage house Q Securities S.A. has become a new tenant at Centrum Królewska in Warsaw. The firm leased an entire 550 sq m floor, making the office building 100% let. REZYDENT S.A., the owner of the complex, was represented in the transaction by Dorota Mielke and Filip Stevnert from global real estate services firm Cushman & Wakefield.
Europe’s commercial real estate markets maintained their positive trend across most markets and property types during the fourth quarter of 2018, according to Cushman & Wakefield’s latest DNA of Real Estate report. Jakub Budych, Senior Consultant, Capital Markets, Cushman & Wakefield Poland, added: “Real estate yields continued to move in across Europe throughout 2018, with the strongest downward movement among the three core sectors in logistics – down by nearly 47bps to the average of 5.71%. This trend continued in the CEE region, albeit at a slower rate. Average industrial yields in the region currently stand at 6.77% and are likely to harden further."
Global real estate services firm Cushman & Wakefield was named Real Estate Agency of the Year at the sixth Outsourcing Stars Gala, organized by the Pro Progressio Foundation. The event was held at EXPO, 4 Politechniki Avenue, in Łódź on 24 January 2018.
New retail supply amounted to approximately 420,000 sq m in 2018, pushing Poland’s total retail stock up by 3% to 14.7 million sq m. Nearly 30% of the new supply was completed in small-scale shopping centres and retail parks (sized below 20,000 sq m). Extensions of existing shopping centres and retail parks delivered approximately 60,000 sq m of new retail space. Global real estate services firm Cushman & Wakefield presents a summary of the Polish retail market in 2018.
Global real estate services firm Cushman & Wakefield presents a summary of 2018 on the Warsaw office market. At the end of 2018, Warsaw’s total office stock stood at 5.46 million sq m. Despite last year’s supply gap, which is expected to carry into 2019, new supply totalled 232,700 sq m delivered across 20 office projects, down by 70,000 sq m on the five-year average for 2012–2017. Last year’s largest completions on the Warsaw market included Proximo II (19,950 sq m), Equator IV (19,200 sq m) and Centrum Biurowe Koneser (17,300 sq m).
Grzegorz Dyląg has been appointed as head of Asset Services Business Space in the Polish office of global real estate services firm Cushman & Wakefield, which manages a diversified commercial property portfolio totalling approximately 1.8 million sq m across Poland. In the Asset Services team, Grzegorz will be responsible for development of the Business Space line and coordination of 50 specialists managing nearly 1.4 million sq m of commercial properties.
On 13 February 2019, global real estate services firm Cushman & Wakefield will host a conference Coworking in Poland – What’s Next? at WeWork’s office in the Browary Warszawskie complex in Warsaw. The conference is dedicated primarily to tenants, developers and investors. The event, which is expected to be attended by more than 150 participants, will be an opportunity to present the latest data about the growth of coworking spaces in Poland and abroad. Guest speakers will talk about how investors and tenants perceive this market segment.
Cushman & Wakefield has released a new report which identifies the important new transportation corridors which will emerge between now and 2030 to support the evolution of the European logistics industry. Joanna Sinkiewicz, Partner, Head of the Industrial and Logistics Agency, Cushman & Wakefield: “Cushman & Wakefield’s latest publication focuses on an analysis of EMEA transportation corridors and their development prospects in the coming years. Increasing freight volumes, rising costs, road congestion and labour shortages are key factors driving change in addition to the growth of e-commerce and new technologies. Further development of the Central Europe corridor and the Baltic corridor is particularly interesting from our perspective. Further significant infrastructure investment is necessary, but Poland – benefiting from its favourable location in the central part of the continent, its competitive labour market and a large consumer market – will remain an important link in the European distribution network.
The Polish commercial real estate market is in the best shape it has ever been, posting a record-high investment volume that exceeded EUR 7 billion in 2018. Office and industrial sectors, in particular, are setting new highs with last year’s trading volumes at nearly EUR 2.6 billion and nearly EUR 1.9 billion, respectively.