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Posts from CIJ for 06/07/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 06/07/2016

New investor to resuscitate Slovak Carrefour

Jun 07, 2016 09:58 am
Carrefour’s Slovak network looks like it will avoid bankruptcy. The hypermarket operator has attracted a new investor: former Penta partner Jozef Špirko, who was introduced at a meeting of creditors of Retail Value Stores, which operates five Carrefour hypermarkets in Slovakia. He did not reveal the investment volume but said that the operation will have to be subsidized....
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Fuertes to redevelop Solo Sušice area into shopping center

Jun 07, 2016 09:54 am
Czech developer Fuertes Development is planning to build a shopping center with a Kaufland hypermarket in the town of Sušice. The project is a brownfield redevelopment of the former Solo Sušice manufacturing plant that used to produce matches. Local residents want to have some of the area’s historical industrial buildings protected. The culture ministry approved protection...
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Cadenzza opens first store in Budapest

Jun 07, 2016 09:17 am
Cadenzza, part of the Swarovski group, made its debut on the Hungarian market with a 78 sqm store on Budapest’s Fashion Street. Cushman & Wakefield, acting on behalf of the owner and developer Immobilia Plc., brokered the deal. C&W is the exclusive retail leasing agent and property manager of Fashion Street, which offers more than 8,000 sqm of retail space and...
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Therme Bucharest undergoing LEED certification

Jun 07, 2016 09:12 am
Therme Bucharest, a wellness, recreation and entertainment center, is poised to obtain LEED certification in the new construction category. The process is being conducted by Colliers International. Construction on Therme Bucharest started in late 2013. “In the 4 months since opening, we had numerous requests from specialists from across Europe to exchange experiences,”...
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Yazaki, Sa-ba to build factories in southern Bulgaria

Jun 07, 2016 09:12 am
Car part manufacturers Yazaki and Sa-ba are planning to open factories in Dimitrovgrad, southern Bulgaria. The investments are valued at nearly €50m. Turkish company Sa-ba is planning to complete construction on its new facility by September, while Japanese company Yazaki is not planning to open its factory until mid-2018....
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Macedonia’s export volume hits €1.34bn

Jun 07, 2016 09:11 am
The export volume on the Macedonian market hit €1.34bn between January and April, up 9.5 percent y-o-y, according to the State Statistical Office. The import volume for the same period was €1.88bn, up 4.4 percent from 2015. The trade deficit for the first four months of the year was €543m, according to the State Statistical Office. The country’s most important trade...
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Czech property investment volumes up 85% in Q1

Jun 07, 2016 09:04 am
Property investment volumes jumped 85 percent in Q1 2016 compared to the last quarter of 2015 to €490m according to Colliers. Retail dominated, accounting for 40 percent of the total. The largest transaction of the quarter was the acquisition of a retail portfolio by Palmer Capital (now Arcona Capital) from Atrium Europe Real Estate. The largest single asset deal of the...
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Polish jobless rate drops again in May to 9.3%

Jun 07, 2016 08:55 am
Poland’s jobless rate dropped again in May by 1.5 percent year-on-year to 9.2 percent, according to the country’s Ministry of Family, Labour and Social Policy. It’s a 0.3-percent drop month-on-month, the ministry said. “Unemployment dropped for the third consecutive month...a clear sign we’re now looking at an employee’s market in Poland,” said Elżbieta Rafalska, Poland’s...
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Tinsa: Spanish property prices slow down in May

Jun 07, 2016 08:47 am
Growth on Spain’s housing market slowed to 1.3 percent y-o-y in May, according to the most recent Tinsa report. The biggest y-o-y increase was reported on the Canary Islands and the Balearic islands, where prices jumped by 3.5 percent. On the Mediterranean coast, prices rose by 1.6 percent and in metropolitan areas by 0.7 percent, according to the report. Small and...
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Cube puts Mercure Bydgoszcz Sepia hotel on the market

Jun 07, 2016 08:34 am
A four-star Mercure Bydgoszcz Sepia hotel has been put on the market. The seller, the company Cubec opened the renovated historic scheme in 2014 and has now selected Cushman & Wakefield to secure the buyer. Located in the city center of Bydgoszcz, the 2,700 sqm hotel offers 90 room, three restaurants, conference space, a fitness center and 45 parking spots. The hotel...
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