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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 outlets. Located next to a 20,000 sqm Praktiker DIY superstore, the new Family Point is home to a wide selection of retailers. Some 95 percent of the rentable space has been let and is now in use. The Family Point construction project is part of a joint venture with REVCAP (Real Estate Venture Capital Management LLP), a London-based institutional real estate investor. REVCAP and its joint venture partner Tradeland, a property developer with offi ces in Vienna and Warsaw, are planning to open a number of other retail properties, with a focus on Family Point retail parks. The joint venture will be involved in the construction of 30-40 Family Point sites in the next five years, and seven new locations with an area of 5,00015,000 sqm each are currently at the planning stage. Tradeland and REVCAP intend to invest a total of around 140 million in the Family Point developments. Retail parks have been slow to take off in Poland, despite their success in other parts of Europe - in mature markets where consumer spending has stagnated, retail parks are the only outlets still recording revenue growth. Th is tried-and-tested concept is popular with many retailers, thanks mainly to the combination of large amounts of space and competitive rents. The typical retail tenant portfolio includes established domestic and international names offering an extensive range of specialist, value- for-money products. Family-friendly layout and eye-catching design are the hallmarks of Family Point retail parks. The modern architectural design is in tune with the requirements of convenience shopping. Visitors can look forward to a wide selection of stores with attractive offers for the whole family. Specialist retail parks are usually located next to established outlets such as grocery hypermarkets and large-scale DIY or electronics stores. However, Family Points enhance the attractiveness of the entire area with a product range that complements the goods already on offer. Outlets at Family Point retail parks are all at street level, making them quickly and easily accessible from the parking spaces located directly in front of the stores. All of this makes for a stress-free, single-source shop- ping experience. FORUM Gliwice FORUM Gliwice is a finalist of the Solal Awards 2010 The FORUM Shopping Centre in Gliwice has been nominated to the Solal Marketing Awards 2010, which is organized by the International Council of Shopping Centres. FORUM was the only Polish nominee in the Business-to-Business category. Th is is another international Solal award for the shopping centre in Gliwice. FORUM received the Silver Solal Award last year in the Consumer and Trade Advertising category for the Stop the monotony campaign. This year the jury appreciated the Lets meet under the cloud cam- paign in the Business-to-Business category. The campaign promotes the centre, and informs on its development and launching of its new food court. The announcement of results, as well as the gala of the Solal Marketing Awards 2010, will take place in Lisbon on 17th June, during the European Marketing Conference of ICSC. The Solal Marketing Awards were created to point the best and the most effective marketing activities conducted by shopping centres in Europe. Solal sets the example to follow by appreciating the best solu- tions. Th is is an important marketing award that European shopping centres compete for. The contest is organized since 1977. Plaza Centers involved in 34 development projects Israeli property developer, Plaza Centers (Europe), has announced it has 34 development projects in the pipeline, in nine countries. Furthermore, according to the companys annual report, at the end of February 2010, the company had 240 million in cash. "To date, Plaza has been involved in the development of 34 schemes in nine countries, of which eight are located in Romania, seven in Poland, six in India, three in the Czech Republic, three in Hungary, three in Serbia, two in Bulgaria one in Latvia and one in Greece," the release reads. The company added that it posted 179 million in cash, by the end of last year. "Our year-end cash position was strong, at 179 million inclusive of restricted deposits, short term deposits and available for sale fi nancial assets, and increased to 240 million following the bond issue in February 2010. Working capital of 710 million and a conservative gearing position leaves us in a strong fi nancial position, with significant equity available to invest opportunistically," the release also reads. Plaza Centers (Europe) BV posted 64.77 million consolidated net loss, attributable for main s unit shareholders in 2009 vs. 67.68 million profit a year earlier. Consolidated revenue amounted to 16.05 million vs. 98.61 million a year earlier. 20 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