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Posts from CIJ Europe.com for 03/24/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 03/24/2016

Václav Skala of PSN invests in Czech e-retailer Bibloo

Mar 24, 2016 11:37 am
Czech property investor and owner of real estate company Pražská správa nemovitostí, Václav Skala is moving into the on-line retail sector by investing in the Bibloo, a fashion retailer. The e-shop was established by Petr Liesner, one of the figures behind the popular e-shop Mall.cz. Liesner told the server e15 that he expects Bibloo to produce revenues of CZK 300m in 2016...
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Plaza Centers disposes of Slatina development site

Mar 24, 2016 11:07 am
Plaza Centers has completed the sale of its 23,880 sqm site in Slatina, Romania, to a third party developer for €660,000, a valuation that’s reported to be consistent with the asset's last reported book value. The sale is part of the company’s commitment to deleverage its business and dispose of non-core trading assets, while focusing on its income producing...
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Aquapark renovation in Smolyan to be completed by summer

Mar 24, 2016 11:05 am
An aquapark in the southern Bulgarian resort town of Smolyannear the border with Greece will be completely renovated by this summer. The construction work will require an investment of up to €1.27m. New lighting is being installed, the facility’s stands are being repaired, with new seats and railings being added and the spa area is being completely reconstructed with new...
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Allocate Software to open new office in Macedonia

Mar 24, 2016 11:04 am
British IT company Allocate Software opened its second office in Skopje yesterday, having opened an app development center last year. Allocate Software has employed 55 programmers and invested €5m in the new office. "The center will not only serve as an engine for growth of our international strategy, but also enables our existing clients to benefit from the...
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Misys rents 8,000 sqm in Orhideea Towers

Mar 24, 2016 11:02 am
CA Immo has leased 8,000 sqm of office space in Orhideea Towers to Misys, a financial software company. Misys is the first tenant of Orhideea Towers, a €75m project comprising 37,000 sqm of gross rentable floor space, built in the Central-West area of Bucharest next to Grozăvești metro station. The deal was brokered by CBRE. Misys has been in CA Immo buildings since...
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Ford plans €200m expansion of Craiova plant

Mar 24, 2016 11:01 am
Ford has announced its plans to expand its current capacity in Romania. The car producer plans to invest about €200m in expanding its plant in Craiova where it will be assembling its EcoSport small SUV model. The SUV is now produced in India, but the US company will move its production to Craiova starting in the second half of 2017. “Craiova has a bright future if it...
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CPI owner Vítek offers CZK 4bn for all Czech railway stations

Mar 24, 2016 10:42 am
Radovan Vítek, the owner of CPI Property Group announced a plan to buy all of the railway stations in the Czech Republic. The state owned Czech Railways had planned to sell to the stations to another state owned company, the railway operator SŽDC. Vítek has offered to pay CZK 4bn for the assets, which is CZK 800m more than the price offered by SŽDC. The CZK 3.2bn price tag...
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Prologis buying new development land in Nitra and Senec

Mar 24, 2016 10:40 am
Prologis has begun purchasing 22 ha of land in Senec to expand its logistic park there which is now full. This will allow it to build an additional 100,000 sqm of warehouse space at the park, which is expected to be leased to up to 15 new tenants. The developer is also buying land in Nitra next to the Jaguar Land Rover plant to create its fourth park in Slovakia. It plans...
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Lucas Fox boosts Spanish team ahead of expected new demand for residential

Mar 24, 2016 10:28 am
The real estate agency Lucas Fox International Properties is expanding its operations in Spain through two key appointments at its Barcelona headquarters. Rod Jamieson has been named Director of Sales and Operations for both Barcelona and Madrid, while Joanna Papis has been promoted from sales manager to head up the newly created New Developments Division. Both roles have...
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Hungarian Thyssenkrupp acquires Ib Andresen Industri

Mar 24, 2016 09:38 am
Germany’s ThyssenKrupp Materials Services has acquired Hungarian steel service center IAI Holding A/S from the Danish service center group Ib Andresen Industri through its Hungarian division. The newly bought plant, renamed ThyssenKrupp Materials Processing Hungary, is located in the city of Györ close to the border with Slovakia and Austria near several major automotive...
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Lisbon City Council leases 4,500 sqm in Entreposto building

Mar 24, 2016 09:06 am
The Lisbon City Council will lease 4,500 sqm for five years in the Entreposto building in the Olivais district of Lisbon. This agreement will cost the city €3.4m and is part of a plan to reallocate municipal employees located across Lisbon. The city's lease begins April 1 and runs until March 31, 2021. The longer-term goal is to have a new building constructed on land...
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La VIE renames, repositions Porto Gran Plaza

Mar 24, 2016 09:05 am
La Vie Porto Baixa will be the name of the old shopping center Porto Gran Plaza. Altogether, there are 70 stores within five floors and nearly 20,000 sqm, opened in 2007 as Gran Plaza. The main new features of the mall are a Virgin Active gym, the Popular Radio, Bertrand and the Code. Another strategy being employed by the owner is free parking on Sundays, with 420 places...
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Portucel to distribute €56m in dividends to shareholders

Mar 24, 2016 09:02 am
Portucel's Board of Directors will propose in April the payment of a third interim dividend within four months. A total of €56m will be distributed to the shareholders, who are to be paid at a rate of 7.8 cents per share. In December last year, Portucel approved the payment of a dividend of 13.95 cents, in the form of retained earnings. A month earlier, in November, it...
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Alchemy-ABR Investment buys office buildings in Palm Beach Gardens

Mar 23, 2016 02:51 pm
he New York-based real estate firm Alchemy-ABR Investment Partners has picked up two Palm Beach Gardens office buildings for a combined $30.05 million. The office complex, Corporate Center at the Gardens, is located on Northcorp Parkway, totals 113,565 sqf of office space. At the time of the sale, both buildings were 100 percent leased with major tenants including nutrition...
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Construction kicks off at St. sburg condo tower

Mar 23, 2016 02:49 pm
The Kolter Group has broken ground 90 days ahead of schedule on ONE St. sburg, a 41 story condominium tower in St. sburg, FL. The mixed use asset will feature 253 luxury condominiums, a 40,000 sqf elevated resort deck with a fitness center and swimming pool, a 173­ room Hyatt Hotel along with over 17,000 sqf of retail space. To date, the project has generated over...
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Miami puts CBRE in charge of selling its office headuarters

Mar 23, 2016 02:45 pm
CBRE has been tapped by the City of Miami to sell Miami Riverside Center (MRC), the City’s administrative headquarters. Located at 444 SW 2nd Ave., the 3.15 acre site sits on over 650 linear feet of the Miami River with redevelopment potential of up to 1,574 units. The goal of the City is to obtain new Class A office space for administrative offices within the city limits....
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Cuba cruises begin their comeback as relations with US thaw

Mar 23, 2016 02:40 pm
Miami-based Carnival Corp has been approved by Cuban authorities from Havanatur Celimar and other agencies to begin sailing to the island nation. The approval marks the first time in over 50 years Cuba has allowed a U.S. cruise line into its ports. The company's newest cruise line, Fathom, is scheduled to start sailing regularly from PortMiami on May 1 with its...
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Robin McBride Zeigler named COO at Cedar Realty Trust

Mar 23, 2016 02:38 pm
Cedar Realty Trust has announced that Robin McBride Zeigler has been hired as Chief Operating Officer. Zeigler has over 20 years of real estate experience and joins Cedar from Penzance, a Washington, D.C-based commercial real estate investment company, where she had served as Executive Vice President and Head of Operations. Prior to working for Penzance, Zeigler served as...
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McGraw Hill Financial renews lease in Lower Manhattan

Mar 23, 2016 02:31 pm
New Water Street Corp. has announced that McGraw Hill Financial has renewed it lease at 55 Water Street. The company inked a multi-year deal for the 34th through 46th floors, along with a portion of the concourse and 52nd floor for a total of 900,027 sqf. The deal makes McGraw Hill the largest tenant in the 687 foot skyscraper that features nearly 4 million sqf of rentable...
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Greysteel picked to sell Baltimore AutoZone

Mar 23, 2016 02:29 pm
Greysteel’s Mid-Atlantic retail investment sales team has been selected to sell an AutoZone in Northeast Baltimore, Maryland. The 10,300 sqf single tenant net leased retail property is located at 5316 York Road. AutoZone has occupied the site since 1999 and recently renewed its lease for 10 years (including periodic rent increases) for a total 25-year term. The site is near...
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