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Posts from CIJ for 04/28/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/28/2016

Rhenus Home Delivery expands into new warehouse in Hoppegarten

Apr 28, 2016 12:49 pm
Rhenus Home Delivery is expanding its warehousing capacity in Hoppegarten near Berlin. The parcel delivery specialist will also lease a new property on a long-term basis alongside its existing central warehouse at its business park on Industriestrasse. The company should be able to move into the warehouse, which is now under construction, by this summer. The new structure...
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CORPUS SIREO appoints Bernhard Berg as new CEO

Apr 28, 2016 12:47 pm
Bernhard Berg will become the new Management Spokesman of CORPUS SIREO Holding GmbH and CEO of the German real estate company as of June 1. The 57-year old real estate specialist joins CORPUS SIREO from Hannover Leasing. “We are very pleased that, with Bernhard Berg, we have been able to secure a leading personality with international experience particularly in the...
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HB Reavis continues to grow internationally with third London site recently acquired

Apr 28, 2016 12:03 pm
International real estate developer HB Reavis bought from Aberdeen Asset Management the freehold interest in 61 Southwark Street for £44 million. Aberdeen has recently been granted planning permission for the comprehensive refurbishment and extension of the existing building to provide 7,100 sq m of office space. HB Reavis intend to commence the scheme immediately...
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Alexela Oil reports €25m in sales revenue for Q1

Apr 28, 2016 11:58 am
Estonia’s Alexela Oil reported €25m in sales revenue for the first three months of the year, up 1 percent increase from the same period in 2015. Profit for Q1 came in at €1m. The increase was attributed to a y-o-y hike in motor gas sales as well as heavy fuel oil. The company, which is part of Alexela Group, operates 62 filling stations. “The beginning of the year...
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Lietuvos Gelezinkeliai signs freight deal with DB Cargo

Apr 28, 2016 11:56 am
Lithuanian railway operator Lietuvos Gelezinkeliai signed a freight forwarding agreement with DB Cargo. The deal, signed in Moscow last week, is expected to help drive freight traffic for the state-owned company’s Rail Baltica line. “Our customers' Western-bound rail freight will reach the destination on time and under the best possible terms and conditions. This...
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Warimpex looks to expand into Poland’s regional office sector

Apr 28, 2016 11:21 am
Warimpex plans to expand its exposure to Poland’s office sector, said CEO Franz Jurkowitsch, adding that the company would be targeting Kraków and Łódź. The company intends to add 20,000 sqm of new office space near its Kraków’s Chopin hotel. Warimpex has also acquired a plot in Łódź, that allows for the construction of 26,000 sqm of new space on it. The plans follow the...
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Prague council coalition members renew their vows

Apr 28, 2016 11:15 am
After six months of bickering and inaction, Prague’s local political leaders have finally signed a new coalition agreement and re-newed the coalition that’s led the city since the last elections. The Social Democrats, ANO, and the Trojkoalice grouping should, in theory, return to running the city. The first test of the coalition ability to agree on anything was the election...
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No new supply on office market in Prague in Q1

Apr 28, 2016 11:10 am
The first three months of 2016 failed to bring any new office space to the Prague market, as no completions or refurbishments came online in Q1. It means the total volume of modern office stock in Prague remained at 3.2 million sqm. Top quality AAA-class properties account for 15 percent of this total, according to the latest Prague Research Forum (PRF) report. No...
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Yanfeng to invest HUF 7.4 bln in Hungarian plant

Apr 28, 2016 11:10 am
Chinaʼs Yanfeng Automotive Interiors, one of the largest automotive suppliers on the global market, is planning to expand its Hungarian unit in Pápa. The company is planning to invest HUF 7.4bn in the project, with HUF 1.85bn subsidized by the government. The existing 20,000 sqm production hall will be expanded by 17,000 sqm and equipped with new technology devices....
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Office projects make up 60% of Reynaers Aluminium’s business

Apr 28, 2016 11:00 am
Office projects make up 60 percent of Reynaers Aluminium Romania’s annual revenue. The company, which specializes in developing sustainable aluminum solutions for the construction sector, worked on Metropol Offices, Oregon Park and AFI Park. “Since the first quarter of this year we have seen a high demand in the office construction segment. Thus, we have already...
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INS: Resi permits increased by 2.6% in March

Apr 28, 2016 10:53 am
Nearly 3,340 construction permits for residential projects were issued on the Romanian market in March, up 2.6 percent y-o-y and 33.1 percent m-o-m, according to the National Statistics Institute. In the first three months of the year, 7,277 construction permits were issued for residential buildings, up 1.4 percent y-o-y. Of the permits issued in March, 65 percent were...
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Macedonia’s industrial output up 10.7% in Q1

Apr 28, 2016 10:53 am
Industrial output on the Macedonian market increased by 10.7 percent y-o-y in the first three months of this year, according to data released by the State Statistical Office. The number of workers employed in industrial sectors also increased by 1.8 percent y-o-y in the first quarter. The mining sector increased its workforce by 1.1 percent, while manufacturing grew by...
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A.Z.K. Properties to develop eco-friendly village near Alino

Apr 28, 2016 10:53 am
A.Z.K. Properties got approval to develop an eco-friendly village near Alino in western Bulgaria. The village will go up on 25 acres land owned by the investor and is set for completion by 2019. Costs are expected to hit €27.3m. The scheme will include 150 rental houses as well a shopping center, sports center, medical center, kindergarten, parks, playgrounds and...
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Expansion to follow Pradera’s deal with LJ Partnership

Apr 28, 2016 10:48 am
LF Partnership will appoint two new members to the supervisory board of Pradera following its strategic investment in the retail investment fund. The deal between the two companies was announced last week, but they are already planning how to expand the fund’s reach globally. This include entering new sectors, Pradera wrote in a statement, as LJ Partnership has committed to...
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Vhils graffiti boosts value of historic building being sold by Porto

Apr 28, 2016 10:30 am
A 16th century building near the Douro river in Porto is to go on sale, and its value is likely to rise thanks to an 'artistic intervention' the city commissioned with the popular graffiti artist Vhils. Thanks to Vhils' painting on the building the area has become a tourist attraction and the value of the building will have to be assessed. Joana Lima, a...
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Mivo Real starts construction of Eleven at Koliba in Bratislava

Apr 28, 2016 10:17 am
Mivo Real started groundwork on a residential project called Eleven, which is to offer 11 large family homes in the Koliba area of Bratislava. The houses will range between 200 and 225 sqm and will be sold for between €576,000 to €637,000. With construction permits in hand, the developer hopes to complete the project by the end of 2017. Eleven is going up in one of the most...
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Lisbon City Council has 24 properties for sale

Apr 28, 2016 10:14 am
The Lisbon City Council has put 24 properties up for auction and set the bidding base at €25m. Fifteen of the properties are for sale under the program "Rehabilitate First, Pay Later" where bidding values range from €65,000 to €825,000. In addition, program includes assets covered by the program “Valuation of Available Assets” that are a mixture of buildings and...
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​CBRE to manage Dolce Vita Coimbra, Porto and Douro

Apr 28, 2016 10:13 am
CBRE's Department of Real Estate Asset Management CBRE has taken on the management of three retail centers: Dolce Vita Coimbra, Dolce Vita Porto and Dolce Vita Douro. The Dolce Vita Coimbra has 43,000 sqm and 121 stores, with brands like Jumbo, Inditex Group, Worten, Sport Zone and Cinemas NOS. Dolce Vita Douro is located in Vila Real and has 30,000 sqm in which it...
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Segro acquires Coslada II Logistics Centre in Spain

Apr 28, 2016 09:48 am
Segro has acquired the Coslada II Logistics Centre in Coslada, near Madrid, from transportation services supplier Royal Premier. The contractual parties have agreed not to disclose the purchase price. The buyer was advised by Proequity, while CBRE advised the seller. Located on on Avenida de la Cañada, the property is one of the most flexible logistics parks in the area,...
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Humphrey White named new MD of Knight Frank in Spain

Apr 28, 2016 09:18 am
Knight Frank has appointed Humphrey White as its new managing director in Spain. White replaces Alberto Prieto, who was with the company for 20 years, the last five of which he spent as MD. Following a short break, Prieto will continue to be involved with the company as a senior advisor. White’s appointment takes effect on April 30. It’s the beginning of a new 3-year...
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