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Posts from CIJ Europe.com for 02/18/2016

Daily Commercial Real Estate News for CEE
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In this edition: 02/18/2016

Gimek signs on at Rozália Park in Biatorbágy

Feb 18, 2016 11:06 am
Gimek Zrt signed a lease on 9,380 sqm at Rozália Park in Biatorbágy. The company is a manufacturer of air conditioning and air treatment systems. Rozália Park offers a total of 57,000 sqm of leasable industrial area. JLL was the exclusive representative of the landlord, Challenger Holding, while Colliers international represented Gimek Zrt during the transaction process.
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USAID opens new center for business innovation in Skopje

Feb 18, 2016 11:02 am
A new center for business innovation, called Hub, opened yesterday in Skopje. The new center will help young people develop business ideas. This is a USAID project co-­financed by the Swiss government and implemented by the Center for Entrepreneurship and Executive Development­-CEED Macedonia. “The users of the Hub will have access to information, support and advice from...
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High Tech Assembly to invest €20m in TIDZ Skopje 1

Feb 18, 2016 11:01 am
High Tech Assembly started construction on a new center at the Technological Industrial Development Zone (TIDZ) Skopje 1. The €20m center will create 300 new jobs and will go up in two phases. Construction of a manufacturing factory with a surface area of 5,400 sqm is set for completion this year. High Tech manufactures electronic printed boards. The company's...
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Palemonteh building €3m plant in Bulgaria

Feb 18, 2016 11:01 am
Swiss company Palemonteh Ltd. is building a factory in Montana, northwestern Bulgaria. Costs are expected to hit €3m. The new production facilities will be located on a 30-acre plot in Technology Park Montana. The Sofia-based firm Mirat Group will oversee construction of the project. The new factory will create about 100 new jobs in the area. The site provides the...
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JLL: Romanian property investment volume falls in 2015

Feb 18, 2016 10:59 am
The investment volume on the Romanian property market fell to €675m in 2015 from €1.17bn in 2014, according to a JLL report. Around 80 percent of the transactions finalized in 2015 were made in Bucharest. Industrial transactions made up 41 percent of the total property investment volume for 2015, followed by office with 38 percent. “Investors looking for distressed...
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Prologis reaches 95.4% occupancy in CEE

Feb 18, 2016 10:59 am
Prologis said it leased a total of 1.75 million sqm in the CEE region in 2015. The result is similar to 2014, with 618,000 sqm of newly leased space and 860,000 sqm of renewals in 2015. The company closed the year with 95.4 percent occupancy of its operating portfolio and achieved one of the highest customer retention rates in the CEE region in Prologis history, amounting...
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Office supply gap opens opportunity for older modernized buildings

Feb 18, 2016 10:54 am
Office take–up amounted to 447,000 sqm in 2015, with 90 percent of the demand targeting class A buildings, according to a report published by Colliers International. Of the 3.2 million sqm of office space currently on the market, 69.5 percent is class A. The supply was above average as well last year. With some 190,600 sqm completed, 2015 was 26 percent above the 10-year...
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Goodman signs 3,500 sqm lease with Coindu

Feb 18, 2016 10:49 am
Goodman has attracted a new tenant to its Goodman Senec Logistics Center in Slovakia. The automotive manufacturer leased 3,458 sqm of warehouse space with a 167 sqm office component. Coindu signed the contract a month prior to the completion of Building B in the park. The transaction was brokered by JLL. This was the sixth deal closed in 2015. A total of 33,000 sqm of...
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Poland’s Treasury adds four members to PHN Supervisory Board

Feb 18, 2016 10:44 am
Poland’s Treasury has made further changes at the board of the Polish Real Estate Holding. After dismissing two members of the holding’s supervisory board, the new administration has added four new member to the body. Krzysztof Melnarowicz and Marcin Marczuk have both been dismissed from their positions, while Mikołaj Handschke, Jacek Chwalenia, Jerzy Wala and Oliwer...
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Echo delivered Phase I of Opolska Business Park in Kraków

Feb 18, 2016 10:42 am
Echo has completed the first phase of Opolska Business Park in Kraków. Offering 19,000 sqm of office space, the building is anchored by the Polish oil giant Orlen, which took 17,000 sqm of space in the project. Comprised of three office buildings, Opolska Business Park will offer a total of 57,000 sqm of office space. To be built in three phases on Opolska Street according...
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Sales of seized homes slowing in Portugal

Feb 18, 2016 10:31 am
The pace of sales of homes that have been seized slowed in 2015, with the tax authorities reporting that they sold 2,720 houses in 2015, 800 fewer than in the previous year. In 2014, there were nearly 10 such sales per days, so last year's numbers represents a drop of 22.7 percent. According to the statistics of the Finance Portal, the tax office is currently in the...
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Hospitality Association of Portugal - New Candidate

Feb 18, 2016 10:27 am
Raúl Martins, President of Altis Hotel, will be running for president of the General Council of the Hospitality Association of Portugal (AHP). "My first goal is to consolidate the presence of the Association of Hotels in the seven tourist regions in Portugal," said Raúl Martins. "We are concerned with the liberalization of local accommodation. We can not...
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Stock Market - Lisbon leads rises in Europe

Feb 18, 2016 10:23 am
Portuguese stock made gains yesterday, with its main index, the PSI 20, rising 3 percent. The best performers of the session on the PSI 20 were Pharol SGPS SA, which rose 9.42% or 0.0210 points to trade at 0.2440 at the close. Meanwhile, Mota Engil added 7.88% or 0.1200 points to end at 1.6430 and Altri SGPS was up 7.88% or 0.2520 points to 3.4480 in late trade. Rising...
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UBS Real Estate to buy Zalando logistics center near Berlin

Feb 18, 2016 10:17 am
UBS Real Estate has acquired the Zalando logistics center in Brieselang, near Berlin, for its German Logistics Property Fund 2. The seller is A&M Captiva. The price of the deal was not disclosed, but market sources claim it was in the low double-digit millions. The 117,500 sqm property offers 26,500 sqm of space with room for further development....
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CBRE buys two prime retail properties in Madrid

Feb 18, 2016 10:15 am
CBRE Global Investment Partners in a joint venture with IBA Capital Partners has acquired two prime high-street retail assets in Madrid from Zambal Spain Socimi. The price of the deal was not disclosed. The transaction includes the ABC Serrano shopping center, offering 14,000 sqm of leasable space, and a 2,400 sqm retail building on Preciados street. IBA Capital Partners,...
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$160m mixed-used project planned for Coral Gables by NP International

Feb 17, 2016 04:03 pm
An affiliate of NP International has submitted plans with the city of Coral Gables for a $160 million mixed use project. Located at 215 and 251 S. Dixie Highway, the scheme calls for 554 luxury condos, 168 hotel rooms and 87,900 square feet of ground floor retail. The 4.3-acre site, which is currently being used as a parking lot for a used car dealer, runs along Metrorail...
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Epoch Residential begins work on residential project near Maitland SunRail station

Feb 17, 2016 04:01 pm
Epoch Residential, based in Winter Park, has started construction on a $47 million transit-oriented apartment complex. Located on the old Parker Lumber Yard next to the Maitland SunRail stop, the site is located near the intersection of Maitland Boulevard and North Orange Avenue. Plans call for a five story 293 unit complex. Epoch Maitland Station Apartments LLC paid $5.2...
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Airlines now clear to apply for permission to fly to Cuba

Feb 17, 2016 03:57 pm
Beginning this week, U.S. airlines can begin submitting applications to the U.S. Department of Transportation to start flying routes to Cuba. In December, the two countries signed an agreement to re-establish scheduled air services. The pact create the potential for 110 daily round-trip flights in and out of Cuba including 20 daily flights to Havana and 10 daily flights to...
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Ringling & Orange 2 acquires PNC Bank building in Sarasota

Feb 17, 2016 03:55 pm
The PNC Bank building in downtown Sarasota has been sold for $15.9 million to Ringling & Orange 2, a firm managed by Rebecca Hunzeker. The sale also included two nearby parking lots on State Street and Orange Avenue, from the seller, Atlanta-based Mirsko Ringling Holdings. Built in 1983, the 71,100 square-foot office building last changed hands in 2011 for $13.25...
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JLL appoints Victoria Paul as Senior General Manager at Hampton Roads office

Feb 17, 2016 03:52 pm
JLL has brought in real estate veteran Victoria Paul to its Hampton Roads, Virginia office as a Senior General Manager. Paul's duties in her new position will include the oversight of the First Potomac Realty Trust portfolio consisting of 20 office and flex properties in Norfolk and Chesapeake. Prior to joining JLL, Paul served as Senior Vice President of Operations of...
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