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Posts from CIJ for 03/01/2016

Daily Commercial Real Estate News for CEE
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In this edition: 03/01/2016

Facebook moves into Rondo 1

Mar 01, 2016 11:38 am
Facebook is moving into Warsaw’s Rondo 1 office building. The tenant took about 1,500 sqm of office space on the 11th floor. The new office will be the company’s CEE HQ and will provide outsourcing marketing services to third parties of all sizes. The 40-storey building changed hands last year in a transaction worth €300m. BlackRock sold the property to the Deutsche Bank...
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NHB takes over Buda-Cash client portfolios

Mar 01, 2016 11:28 am
NHB Növekedési Hitel Bank has won a tender to take over the client portfolios of the failed brokerage Buda-Cash Brokerház. The independent brokerage went into liquidation last year after it came under investigation for suspected criminal activity. Market sources claim that NHB Növekedési Hitel Bank was the only party to offer to take over the portfolios. The company is...
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AFI Park’s last two buildings reach 60 percent occupancy

Mar 01, 2016 10:58 am
AFI Europe Romania has signed a new lease agreement at AFI Park 4 & 5 with FotoNation, a TESSERA company, bringing the park’s occupancy rate to 60 percent. AFI Park 4 & 5 (32,000 sqm) represents the last phase of AFI Park, an office project that consists of five Class A office buildings totaling 70,000 sqm of GLA, adjacent to the AFI Palace Cotroceni shopping...
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Croatian Tourism Ministry to invest €2.2m in projects

Mar 01, 2016 10:58 am
The Croatian Tourism Ministry plans to invest more than €2.2m in 34 infrastructure projects around the country this year. The Tourism Ministry will co-finance 80 percent of the costs, including 18 beach refurbishments, according to local news reports. The largest project will be the refurbishment of Rezalište Beach in Šibenik. This project is planned for completion this...
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Echo completes Tryton Business House in Gdańsk

Mar 01, 2016 10:58 am
Echo Investment completed its Tryton Business House office project in Gdańsk. Located at the corner of Jan z Kolna and Wałów Piastowskich streets, the office project offers 22,000 sqm of new space. Kainos Software, PGS Software and EY are tenants in the building with further talks said to be currently underway. Local architectural office Arch-Deco provided the design....
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Macedonian retail sales increased 8.9 percent in January

Mar 01, 2016 10:57 am
Retail sales registered 8.9 percent growth in January 2016 in Macedonia, compared to the same period of 2014. The most recent Statistics Bureau report retail grew by 20.3 percent in January 2016, if fuel and food products were ignored. Excluding only fuel, retail commerce grew by 15.5 percent. Retail sales growth has ranged from -1.55 percent in 2015 to 13.9 percent in...
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Profi expands Romanian network with four new stores

Mar 01, 2016 10:56 am
Profi is expanding its Romanian network with the opening of four new stores in Slatina, Braila and Constanta. Profi currently operates 379 stores in 179 locations in Romania. The Slatina store (Olt County) operates under the City format with a sales area of 210 sqm. The Braila location operates under the retailer’s Standard format, with a sales area of 395 sqm. Profi...
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Debenhams opens first store in Croatia

Mar 01, 2016 10:55 am
Debenhams will open a 2,500 sqm store in Westgate Shopping City shopping center in Zagreb. This is the first Debenhams store signed to be open in Croatia, the launch being planned for September 2016. Natasa Ivana Dorotic, Managing Director of dornativa Consultancy & Services SEE/CE introduced Debenhams to and advised the landlord in the transaction. Westgate...
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JLL: Stock of retail in Warsaw grows 64,000 sqm in 2015

Mar 01, 2016 10:54 am
A total of 64,000 sqm of new retail space was added to Poland’s biggest retail market, Warsaw, according to most recent report from JLL. In all, the city is now offering about 1.65 million sqm of retail space, including retail centers (more than 1.14 million sqm of space), retail parks (265,000 sqm), large-scale retail warehouses (186,000 sqm) and outlet centers (56,000...
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JLL: Stock of retail in Warsaw grows 64,000 sqm in 2015

Mar 01, 2016 10:54 am
A total of 64,000 sqm of new retail space was added to Poland’s biggest retail market, Warsaw, according to most recent report from JLL. In all, the city is now offering about 1.65 million sqm of retail space, including retail centers (more than 1.14 million sqm of space), retail parks (265,000 sqm), large-scale retail warehouses (186,000 sqm) and outlet centers (56,000...
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Bratislava greenlights Danubia Park

Mar 01, 2016 10:51 am
Danubia Invest has secured a planning permit from city of Bratislava for Danubia Park, a sports and leisure area, set to go up along the Danube River in the capital’s Čunovo district. The complex, expected to cost €45m, will feature an aquapark, a marina with clubs for water sports, playgrounds, new bike tracks, recreational apartments and a park. The project originally...
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Andrew Thompson to head Czech, Slovak investments for Colliers

Mar 01, 2016 10:42 am
Colliers International promoted Andrew Thompson, current head of investments in Slovakia, to head of investments for the Czech Republic and Slovakia. In his new position, Thompson will oversee investment advisory, sales and acquisitions across both markets. Prior to joining Colliers International in 2015, he set up and ran the Cushman & Wakefield office in Slovakia as...
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VGP starts 50:50 JV with Allianz Real Estate

Mar 01, 2016 10:29 am
VGP real estate group and the property investment and asset manager Allianz Real Estate have established a 50:50 JV. The new vehicle, which has a transactional value of €500m, will pool the logistics and industrial projects VGP develops in Germany, the Czech Republic, Slovakia and Hungary. It will exclusively acquire assets developed by VGP in the long-term, allowing the...
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BAM wins two German university contracts

Mar 01, 2016 10:06 am
BAM Deutschland, the German operating company of Royal BAM Group, has won two contracts for the construction of university buildings in Düsseldorf and Cologne. The contracts cover a complex of three buildings with a total gross floor area of 38,000 sqm for the Heinrich Heine Universität Düsseldorf as well as a new oncology treatment center at the University Hospital in...
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Braga's S. Geraldo Cinema to become hotel and market

Mar 01, 2016 09:43 am
The old S. Geraldo Cinema in Braga, which has been closed for more than 20 years, will be redeveloped into a cultural center, a food market and a four-star hotel. Renovation work should start in April, requiring a total investment of €6m. Work on the market should be completed by December, with the dining area offering space to 20 tenants. The hotel will open in June 2017...
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Tender held for retail land in Almada

Mar 01, 2016 09:42 am
The Institute for Housing and Urban Rehabilitation (IHRU) has launched a tender for the sale of a plot of land in Monte da Caparica, Almada. A shopping center can be built on the plot, which the IHRU believes will contribute to the economic growth of the region. The tender can be entered by any person or company who can meet at least the base price of €500m. In addition to...
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JLL to lease renovated Marquês Office Square in Lisbon

Mar 01, 2016 09:41 am
The two office buildings that make up Marquês Office Square will be renovated in central Lisbon. JLL has been retained to lease the 24,000 sqm property on Marquês de Pombal street. “The two buildings constitute an offer of unique offices, both because of their location and because of their job opportunities,” says Mariana Rosa, Director of the Office Agency for JLL. She...
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Knights Inn sold to senior living investor

Feb 29, 2016 03:55 pm
Marcus & Millichap has arranged the sale of the Knights Inn (formerly known as the Buccaneer Beach Motel) located in Panama City, Fla, for $2,350,000. Built in 1960 at 711 West Beach Drive, the 101 room hotel sits on a 3.2 acre parcel of land. It's a five-building, two-story, full-service motel the asset with over 800-feet of direct frontage on Saint Andrew’s Bay...
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Nathan Hedge makes partner at Allen Morris Co.

Feb 29, 2016 03:51 pm
The Allen Morris Company, based in Coral Gables, has announced the addition of Nathan Hedge as a partner and the Director of Development for Georgia. Spearheading Class A multifamily, office and mixed-use development, Hedge will also work on in-fill locations in Atlanta’s urban core. Prior to joining Allen Morris, Hedges was president of Spectrum Real Estate Services...
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Tampa job creation up in Q4 2015

Feb 29, 2016 03:48 pm
According to a statement from the Tampa Hillsborough Economic Development Corp. the greater Tampa-St. sburg-Clearwater metro area added 38,200 jobs between the fourth quarter of 2014 and the fourth quarter of 2015. With that 3.1 percent increase in the number of jobs, the Tampa metro area tops the list of industry employment growth in Florida. The figure also marks a...
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