Sorry, the publication can not be displayed.

It might be because:

The use of JavaScript is turned off in the browser.
JavaScript is needed in order to display the content of this page.

Adobe Flash needs to be installed or updated –
Please click on the box below for installation.
Get Adobe Flash player

Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Multi Corporation sells 35 percent of Forum Mersin to Union Investment for 68 million Multi Corporation and Union Investment have finalized an agreement to purchase the remaining 35 percent of the shares owned by Multi. Union Investment will be the 100 percent owner of the Forum Mersin shopping centre in the South East of Turkey. The Hamburg-based real estate investment manager paid 68 million to acquire the 35 percent stake for its open-ended real estate fund UniImmo: Global. Th is agreement reflects the high and proven quality of Forum Mersin as well as the strong belief of our long term partner Union Investment in the Turkish retail market and the management of Multi. The transaction fits in the strategy of the Multi Turkey Retail Fund of re-using capital for the future development pipeline, said Roderik Zegering Hadders, General Manager of the Multi Turkey Retail Fund. Forum Mersin contains 213 shops anchored by a hypermarket and DIY in the middle of Mersin city. Forum Mersin is one of the 8 shopping centres opened by Multi in Turkey. All Multi shopping centres and developments in Turkey are owned by the Multi Turkey Retail Fund co-owned by Canadian Pension Plan. Multi Corporation will continue to be responsible for the centre management and asset management of Forum Mersin. The half-covered 2.5 storey Forum offers 72,000 sqm of retail space, 4,500 sqm for food units and 5,000 sqm of leisure space. The centre is let on long-term leases to major retailers including MediaMarkt, Zara, Migros and department stores. The centre opened in autumn 2007, was awarded by ICSC in 2008 for Best New Large Development and, with some 17 million visitors in 2009, is the dominant retail destination in South East Turkey. The New York Nails Studio in FORUM Gliwice The first New York Nails in Poland opens in FORUM Gliwice The very first New York Nails beauty salon has opened in the FORUM Shopping Center in Gliwice. The salon has taken an area of 87 sqm in the centre. New York Nails is an international chain of luxurious beauty salons that offer nail decoration. Its success is based on long- term experience and modern technologies that are used in the United States. The chain is widely recognized in America and Western Europe, mostly in Germany. Mission accomplished at Magnolia Park REDiS an international real estate developer has succeeded putting Magnolia Park Shopping Center on the map in Lower Silesia, resulting in a footfall 35 times higher than the national average. The company has decided to move on to new challenges and ventures within Poland. A recipient of two prestigious international awards for shopping centres, namely the Gold Solal Award (2008) and Maxi Award (2009), as well as a variety of local acclaims, under REDiS management, Magnolia Park dramatically increased its footfall throughout 2009. Last October, was the centres 2nd Anniversary. In such a short period of time, Magnolia has become the most attractive and fash- ionable shopping centre in the Lower Silesia region and one of the largest in Poland, say developers REDiS. The centre maintained a substantial 7 percent increase in footfall throughout 2009 and boasted having 1,000,000 visitors in the month of December alone. During the same timeframe, the Polish Footfall Index revealed a meagre 0.2 percent increase in footfall for other shopping centres in Poland. In addition, Magnolia Park tenants experienced an increase in sales of more than 5 percent, year-on-year. For the entire year the development welcomed a grand total of 9 million visitors in a city with a population of 650,000 and fierce competition from four (4) other major centres, one of which opened at the end of April 2009, in the centre of the city. The reason for Magnolia Parks successful accomplishments during a competitive and turbulent economic climate is four-fold. The fi rst being that REDiS was persistent in being extremely close to its com- munity. Our management personnel come from small communities in the Province of Quebec, Canada, where there is a craving for tradition, close family ties and interaction with the community. The second fact is that we cater to what people want. We built a huge Piazza with an amphitheatre and a most impressive fountain in a natural environment with trees, magnolia flowers and greeneries. Our idea was to offer a new meeting place for family and friends for Wroclaw and Lower Silesia citizens and a centre which offered not only the most fashionable shops but also much more than shopping. Today REDiS can say this mission has been accomplished, explained Gilbert Boulanger, Managing Director at REDiS. The retail area itself consists of more than 250 stores, restaurants, and service points. REDiS has been responsible for designing, plan- ning, and delivering this challenging project with a total GLA of 66,000 sqm and 8,000 sqm of exterior recreation area. 18 OFFICE SPACE LISTINGS IN POLAND see inside! April 2010 Volume 4 No 4 (37) Monthly News Published by NEWS Poland well positioned to thrive Poland took centre stage for the first time at this years international real estate fair MIPIM. As a result, the country witnessed many events arranged for partic Commercial Real Estate News Volume 4 No 4 (37) April 2010 Salans advises Bonduelle Group in connection with its investments in Ukraine Salans has acted as a legal advisor in Ukraine to Bonduelle Group, in relation to its investment in the construction of a factory producing canned and frozen vegetab Commercial Real Estate News Volume 4 No 4 (37) April 2010 European housing showing signs of recovery Signs of recovery are visible in some European housing markets, especially in sales levels and prices, says the latest RICS European Housing Review. A significant number of European residential marke Commercial Real Estate News Volume 4 No 4 (37) April 2010 ProLogis leases nearly 70,000 sqm of distribution space in Central Europe ProLogis has announced that it has signed five new lease agreements in Central Europe, covering 68,800 sqm. Three lease agreements were signed in Poland, the first with Commercial Real Estate News Volume 4 No 4 (37) April 2010 Poland is well positioned to thrive after growth in 2009 say market professionals at EuropaPropertys Poland Breakfast Forum Poland took centre stage for the first time at this years international real estate fair MIPIM. As a result, the count Commercial Real Estate News Volume 4 No 4 (37) April 2010 The panel agreed that retail will be the strongest sector because the yields are so attractive. Retail has been holding up pretty well and that is coming across in our valuations, Chris Grzesik explained Going into more detail on why to inves Europaproperty.com provides comprehensive and up-to- date news, information and analysis on commercial real estate markets and related businesses. Through our printed and electronic publications, conferences and awards events we cover the whole of Central and Eastern Europe, Russia and the CIS. Subs Commercial Real Estate News Volume 4 No 4 (37) April 2010 FINANCE FOCUS Hypo Real Invest acquires Vyšehrad Victoria offi ce building in Prague Skanska Property Czech Republic is divesting its offi ce project, Vyšehrad Victoria, in Prague to HRI Immobilienfonds, of the Austrian Hypo Real Invest AG, f Commercial Real Estate News Volume 4 No 4 (37) April 2010 FINANCE FOCUS Corio acquires 1.3 billion Multi shopping centre portfolio Corio has purchased a 1.3 billion shopping centre portfolio from Multi. This ranks as one of the largest European retail portfolio transactions recorded to date. Corio w Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Galeria Kaskada GTC and Polnord join forces on retail project in Warsaw Globe Trade Centre S.A. (GTC) and Polnord S.A. (Polnord) have signed a term sheet of a joint venture for the development of a modern shopping centre on a 7 h Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS The awards were witnessed by 450 top industry professionals CEE RETAIL A W ARDS Pawel Debowski, Clifford Chance Martin Erbe, WestImmo Daniel Harris, MGPA and the region as a whole, is very much an active market and one that we ho Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS of the Year award. Chapman Taylor picked up Architectural Firm of the Year, Clifford Chance was awarded Law Firm of the Year and First Title took home the Professional Service Provider of the Year award. AWARD WINNERS Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS TriGranit share holders inspect Arenas construction progress IKEA s Port Lodz Arena Centar works ahead of schedule A delegation of TriGranit shareholders and executive management recently visited Zagreb to inspect the constructio Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Korczowa Dolina Serdika Center Korczowa Dolina offers new commercial venue for trading with Ukraine The investors of Korczowa Dolina Distribution Centre have recently received a building permit to construct the distribution centr Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Multi Corporation sells 35 percent of Forum Mersin to Union Investment for 68 million Multi Corporation and Union Investment have finalized an agreement to purchase the remaining 35 percent of the shares owned by Multi. Union Inv Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Polands first Family Point opens in Wroclaw Polands first Family Point has opened its doors in Wroclaw. The 9,000 sqm centre is one of only a few retail parks in the country and features a total of 17 shopping and recreational ou Commercial Real Estate News Volume 4 No 4 (37) April 2010 EuropaProperty presents the 5th annual SEE Real Estate Awards for 2009 Building on the success of the last four EuropaProperty SEE Real Estate Awards, EuropaProperty is proud to present the fifth annual SEE Real Estate Awards for 2009. The Aw Commercial Real Estate News Volume 4 No 4 (37) April 2010 Segro wins a new customer in Tulipan Park Ostrava The German company Erwin Quarder has become the latest customer in Segros Tulipan Park Ostrava, leasing a total of 4,220 sqm of warehouse space. Tulipan Park Ostrava is being developed on a 4 Commercial Real Estate News Volume 4 No 4 (37) April 2010 European investment volumes up 10 percent over last four quarters says DTZ Reflecting seasonal trends, the volume of commercial real estate investment across Europe posted a 29 percent quarter- on-quarter decrease to 16.3 billion, when compar Commercial Real Estate News Volume 4 No 4 (37) April 2010 Central Europe boosts industrial real estate market Central Europe continues to play a significant role on the industrial real estate map, and despite the rebalancing of the global economy, the market saw a number of major transactions; last Commercial Real Estate News Volume 4 No 4 (37) April 2010 People on the move Kirill Popov appointed as Executive Director at C&W in Russia Cushman & Wakefield has announced the appointment of Kirill Popov as an Executive Director. Kirill will focus on coor- dinating the activities of the offi ce, re Selected Offi ce Buildings in Commercial Real Estate News Poland List your available office space in the May edition of The Wire for only 99. Deadline April 25th. Volume 4 No 4 (37) April 2010 photo name of building address net price (per sqm) class total space /available /minimum available investor Commercial Real Estate News Volume 4 No 4 (37) April 2010 Selected Offi ce Buildings in Poland, cont d photo name of building address net price (per sqm) class total space /available /minimum available investor contact agency contact Advertise your SUBLEASE offi ce space in The Wire for only 99 per The Commercial Real Estate NEWS E.C.E. Property Media ul. Łucka 15, 00-842 Warsaw, Poland iption ubscr t: s ac trial for a lease cont perty.com p pro opa eur eting mark Publisher Craig Smith craigeuropaproperty.co +48 604 144 769 Editorial Director Winston Norman winstoneuropaproperty. +48 (22) 586