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Posts from CIJ for 04/05/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/05/2016

Teva invest increases its Hungarian production capacity

Apr 05, 2016 11:50 am
The Israeli based drugmaker Teva is planning to start production in this summer at its production facility in Sajóbabony, Hungary. The company expanded the plant recently with an investment of HUF 2.3 bn. The pharmaceutical company is also based in Gödöllő, where it invested $110m in 2012 in a new production units. The company employs more than 3,000 people in the country....
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Latvia’s industrial output up 3.8% in February

Apr 05, 2016 11:30 am
The industrial output on the Latvian market grew by 3.8 percent y-o-y in February, according to the Central Statistical Bureau (CSB). However, production decreased by 0.1 percent m-o-m following a 10.7-percent fall in the country’s electricity and gas supply. Manufacturing accounted for 4.3 percent of the February total volume, while mining and quarrying made up 3 percent...
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SAP relocates 2,000 staff to Metronom Business Center

Apr 05, 2016 10:48 am
SAP is relocating 2,000 employees from subsidiaries Concur, SAP Ariba and SAP BSCE to the Metronom Business Center, which HB Reavis completed above the Nové Butovice metro station in Prague 13. The move should improve cooperation among the teams and enable SAP to become a cloud company. The staff will relocate to the new headquarters this year. The software company entered...
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JLL Slovakia strengthens Project & Development Services team

Apr 05, 2016 10:43 am
Michal Oparty has been promoted to head of project and development services at JLL’s Bratislava branch. He took over managing the Slovak P&DS business on April 1. Oparty has seven years of experience in architecture, building consultancy and project management. Before joining JLL, he worked at AK Jančina architekti. Ján Mikula joined JLL as project manager. His...
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Czech property investment volume down 63% in Q1

Apr 05, 2016 10:38 am
The commercial property investment volume on the Czech market fell to €340m in the first quarter of 2016. Investors mainly targeted regional shopping centers, hyper and supermarkets and retail parks, which accounted for 54 percent of the total investment volume. The total transaction volume, however, dropped 63 percent y-o-y and 12 percent q-o-q, according to BNP Paribas....
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Timisoara Shopping City, a new successful project delivered by OPTIM PM

Apr 05, 2016 10:30 am
Optim Project Management are pleased to congratulate NEPI on the official opening, 31 March 2016, of Timisoara Shopping City. This new and most modern shopping mall outside of Bucharest, with a GBA of 74.000 sqm, was delivered in record time and comprises a Retail Mall, 13 screen Cinema City Complex including 4DX technology and IMAX and a Food Court area. Last year in...
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Harman, BASF are newest office tenants at Nordic Light in Budapest

Apr 05, 2016 10:18 am
Harman International and BASF Hungária signed a lease agreement for office space at the Nordic Light office building on Váci Road in Budapest. Harman International signed a lease on 1,000 sqm in the project’s first phase, while BASF Hungária signed a lease on 2,000 sqm in the second phase. Currently, the building has pre-leases on 26 percent of the total space. Schneider...
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Inditex eyes land purchase near Meco logistics center

Apr 05, 2016 10:04 am
Arpegio, Madrid’s public land management company, is poised to finalize the sale of a 100,000 sqm land parcel it owns in Meco (Madrid). The price of the land is estimated to cost between €100m and €120m. The parcel is located next to Inditex’s logistics center. According to market sources, Inditex has expressed interest in taking over the land. However, Arpegio needs to...
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American company to invest €4.6m in factory near Sofia Airport

Apr 05, 2016 09:51 am
An US based company will start producing components for Airbus, Boeing, Bombardier and Embraer is in Bulgaria, in a new €4.6 m factory, according to local press reports. The name of the company was not disclosed. The 2,000 sqm plant is to be located near Sofia airport and will produce components for airplane tail and wings, as well as parts for the fuel control system....
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Chinese investors seek new industrial zone investment near Plovdiv

Apr 05, 2016 09:51 am
Chinese investors are interested in building a new industrial zone near Plovdiv, outside the Trakia Economic Zone. However, a final agreement was not reached following recent metings between Plovdiv’s Deputy Mayor Rozalin Petkov, the businessman Plamen Panchev, (responsible for the Trakia Economic Zone project, and Valentina Aleksandrova (an adviser to the minister of...
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Croatian minister launches Kupari tourism investment

Apr 05, 2016 09:50 am
The Croatian government has accepted a bid made by Avenue Ulaganja a tourism sector investment in the town of Kupari. The head of the State Property Management Office, Tomislav Boban made the announcement while visiting the southern coastal city of Dubrovnik. He said that a contract had been signed and that work on the project was getting underway. “The deadline is two...
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Kowalewska and Gawlikowska-Mentrak to head Immofinanz in Poland

Apr 05, 2016 09:50 am
Immofinanz has named Magdalena Kowalewska as its new Country Manager Operations for the Poland, while Elżbieta Gawlikowska-Mentrak will become Country Manager Finance & Support. The decision mark a substantial step for the Austrian development company on the Polish market, but no further details regarding the company’s strategy for the local market was not disclosed....
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Sport Vision to open store in Iulius Mall Iaşi

Apr 05, 2016 09:49 am
At the beginning of this summer, sporting goods retailer Sport Vision will open its first store in the north-east of Romania at Iulius Mall Iaşi. The 470 sqm store will be located on the second floor of the shopping mall. In Romania, Sport Vision runs stores in Bucharest, Constanța and Timișoara. Opened in May 2012, Palas Iaşi includes over 200 stores, six class A...
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Coresi Shopping Resort sales reach €60m in first year

Apr 05, 2016 09:48 am
Coresi Shopping Resort in Brasov, posted sales of €60m in its first year of operation, bringing in more than 8 million visitors. Representatives of the zone revealed that Coresi Shopping Resort is fully-leased to over 120 brands. Immochan, the developer of the project, is continuing the project and started construction of the second phase last autumn. This €10m...
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HB Reavis appoints JLL to manage 2n phase of GBC

Apr 05, 2016 09:48 am
HB Reavis appointed JLL to managed phase C of Gdański Business Center, the developer’s biggest investment on the Polish market. Under the agreement, JLL will also take over management of GBC’s building D building once it’s completed, which is planned for the second quarter of 2016. The agency has been managing buildings A and B since 2014. Located at the corner of Andersa...
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Vacancy plummets with Lisbon running out of office space

Apr 05, 2016 09:01 am
A shortage of prime office space is developing in the Lisbon region. Of the 509,000 m2 available for occupation, the market has just over 25,000 sqm of new and used stock, 40 percent is concentrated in zone 6 (Axis A5 to Porto Salvo and Alfragide) and 20 percent in zone 2 (Axis Av. da República, Av. Duque de Loulé and Amoreiras area). The data comes from the 6th edition of...
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Pestana Group sells resort in Brazil

Apr 05, 2016 09:00 am
Pestana Group continues to sell off real estate assets in order to be focus more on hotels operation. The latest disposal is of the Pestana São Luís Resort Hotel in Brazil which will continue operating on a franchise basis. Pestana Group is the largest Portuguese hotel chain with a strong international presence in markets such as Spain, UK, Germany, USA, Cuba, Argentina,...
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Santa Casa da Misericórdia de Lisboa enters short-term tourist accommodations

Apr 05, 2016 08:59 am
Santa Casa da Misericórdia de Lisboa (SCML) will be creating a new network flats for rent by tourists. Until now, the company has taken long-term leases of Lisbon residential properties which it fixed up and leased, but it is now moving into the "dynamic" market of houses for tourists. Short Rental Santa Casa will offer short-term leases to tourists in an effort...
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First Choice Healthcare Solutions sells Melbourne HQ to Global Medical REIT

Apr 04, 2016 03:55 pm
First Choice Healthcare Solutions has sold its headquarters to Global Medical REIT in a leaseback deal for $15.45 million. The 78,000 sqf building, Marina Towers, located in Melbourne netted the company nearly $8 million. First Choice Healthcare is one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on orthopaedic care...
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New AC Hotel Marriott in Aventura tops out

Apr 04, 2016 03:52 pm
CBRE Project Management has announced the topping out of the AC Hotel by Marriott in Aventura. CBRE was hired by developer Norwich Partners to manage the design and construction of the 233-room hotel. The project broke ground in June of 2015 and is expected to be finished by November 2016. The general contractor selected to build the 9 story hotel is Craft Construction....
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