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Posts from CIJ for 03/15/2017

Daily Commercial Real Estate News from Europe and USA
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In this edition: 03/15/2017

Czech antimonopoly office investigates mobile telecom prices

Mar 15, 2017 11:52 am
The Czech antimonopoly office, UOHS, is planning to investigate whether mobile telecom operators in the Czech Republic are illegal collaborating with each other or if there is any abuse of power. O2 Czech Republic, Deutsche Telekom's T-Mobile and Vodafone are facing growing criticism from politicians who say Czechs pay some of the highest prices for mobile telecom...
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Deutsche Investment launches residential special fund

Mar 15, 2017 11:36 am
Deutsche Investment has launched its fourth residential real estate special fund. Deutsche Investment-Wohnen IV is aimed at German institutional investors. The targeted investment volume is €300m. Deutsche Investment-Wohnen IV will focus on residential acquisition opportunities in Berlin and Hamburg. Deutsche Investment has already acquired two properties totaling €20m in...
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JLL: Łódź office market reports strong take-up in 2016

Mar 15, 2017 11:34 am
The last two years have been very successful in terms of demand and absorption of new office space in Łódź, according to the latest JLL report. Demand for offices in 2015 reached an all-time high of 70,000 sqm thanks to the impressive 24,000 sqm lease deal signed by mBank. In 2016, demand was similar with a total of 66,700 sqm. The biggest lease agreements concluded last...
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Czech retail sales up in January, e-commerce rockets

Mar 15, 2017 11:32 am
Household consumption will continue to give momentum to the Czech economy. Retail sales increased 5.6 percent y-o-y in January, up from 3 percent in December. Non-food retailers reported a 9.2-percent jump in revenues, according to data compiled by the Czech Statistic Office. Fuel also fared well, unlike groceries which remained flat. E-commerce reported the fastest growth,...
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Construction starts on AFI City resi complex in Bucharest

Mar 15, 2017 11:06 am
AFI Europe Romania broke ground on AFI City residential complex in Bucharest. The project is going up on the former Laromet factory site. THe developer announced plans to build in 2015 but had trouble securing the necessary permits because the land is part of Bazilescu Park’s protected area. AFI City is AFI Europe Romania’s first residential project in Romania....
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DTZ Echinox rebranding as Cushman & Wakefield Echinox

Mar 15, 2017 11:02 am
Cushman & Wakefield has signed an exclusive agreement with DTZ Echinox to be its Romanian affiliate. The decision follows the 2015 global merger of Cushman & Wakefield and DTZ. DTZ Echinox will rebrand as Cushman & Wakefield Echinox. “With this new brand, which integrates the history, the teams and the know-how of two market leaders, I’m confident that we’ll...
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Two new deals signed at Gdanski Business Center

Mar 15, 2017 11:00 am
The Swedish medical company Elekta signed a lease on 1,840 sqm at the Gdanski Business Center. The company will open a Polish branch at the office complex, which will also be home to its shared services centre Elekta Business Services. Colliers International advised on the leasing deal. Nielsen, meanwhile, expanded its space at the office complex by 2,060 sqm and will now...
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HB Reavis breaks ground on Agora Budapest

Mar 15, 2017 10:41 am
HB Reavis broke ground on its Agora Budapest office scheme. Situated in the heart of the Hungarian capital near Róbert Károly boulevard and the Váci office corridor, the complex will include more than 136,000 sqm of office space in five buildings and will go up in several phases. Agora Budapest will also include retail, green areas and public spaces. HB Reavis is working...
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Discovery Tower to go up next to Apollo II in Bratislava

Mar 15, 2017 10:23 am
CKM Reality is planning to build a 22-floor residential tower next to the Apollo II office complex in Bratislava’s Ružinov district. Discovery Tower will include 137 flats across 20 floors. The two bottom levels will feature an entrance hall as well as shops and services. There will also be underground parking. Discovery Tower will go up on the last vacant plot (5,827 sqm)...
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MIPIM News: Brexit impact of top concern

Mar 15, 2017 08:42 am
Who will benefit and who will be hurt by Brexit? That's one of the primary concerns in Cannes this week at the international property exhibition MIPIM. There are multiple views on the matter, ranging from the view that markets have already priced in the UK's exit from the European Union to fears that it will be part of a widening spiral of dissolution for the EU....
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MIPIM News: Lodz office market increasingly international

Mar 15, 2017 07:56 am
The Łódź office market is growing in stature in a trend that was confirmed by strong take-up figures in 2016. While the record 70,000 sqm in deals from 2015 was not exceeded, 2016 did see 66,700 sqm in take-up according to JLL. The biggest deals, signed with companies like Ericsson (in University Business Park) and Fujitsu Technology Solutions (in Nowa Fabryczna) reflect...
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Palmira acquires DHL Campus Bremen

Mar 14, 2017 12:03 pm
Palmira has acquired the DHL Campus in Bremen, Germany. The property, located at Hüttenstrasse 110, offers more than 34,750 sqm of logistics space. The price of the deal was not disclosed. The asset is fully leased to DHL subsidiaries. Palmira was advised by JLL, GSK Stockmann and Partner, Drees & Sommer and Ambiente. Palmira now has more than €1bn of assets under...
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