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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 hectare site located in Přívoz district. It is a two-phase project that upon fi nal completion will provide 20,000 sqm of modern warehouse and light industrial space. The 1st Phase of the scheme, totalling 11,000 sqm is located in two separate buildings. Additionally, Tulipan Park Ostrava provides excellent transport connections. Since it is located near the city centre and directly at the D1 motorway (the main route for Moravian region) it will enable a great link between Prague, Brno and Poland. The transaction has been facilitated by the real estate agency Carroll & Dohnal. King Sturge Bucharest closes lease of 1,065 sqm storage space to Pet Centar In a transaction mediated by King Sturge Bucharest, Croatian company Pet Centar, specializing in pet food and retail accessories, has leased 1,065 sqm of storage in Mega Center for a 5 year lease contract. The park is located at the junction between A1 Bucuresti-Pitesti and the west Bucharest ring road. The owner, Mega Company Import-Export, is one of the first developers of modern logistics and distribution space in Bucharest. Mega Center comprises nine completed buildings that provide 25,000 sqm of warehouse space and 4,000 sqm of offi ce space. The tenants list includes widely recognized names such as: Dr. Oetker, DB Schenker, Sika, Dohler, Top Birotica and Augsburg etc. According to the latest market report released by King Sturge, the vacancy rate for this sector is at the level of 12 percent and will increase to 14 percent in 2010, due to tenants expected to downsize. The most notable transaction in Romania last year was the leasing of 30,000 sqm by Unilever; King Sturge Romania was involved in the transaction, representing the owner Alinso Europe. Construction works of Andersia Business Centre in Poznan start Underground construction works of Andersia Business Centre (ABC) have just commenced. After a heavily competed tender for a General Contractor of 0 stage, Von der Heyden Group is pleased to announce Porr (Polska) S.A. as the winner. Porr is one of the leaders of the European construction market. The underground works of ABC are planned to be completed in October 2010. ABC is a joint venture between Von der Heyden Group and the City of Poznan located in the very centre of Poznan. It constitutes the third phase of the Anders Square development. The fi rst phase of Anders Square development, Poznan Financial Centre (Intelligent Building 2001 Award), and the second phase, Andersia Tower (Building of the Year 2007), were also developed by Von der Heyden Group. PFC was sold to AIB Polonia Property Fund S.a.r.l. in December 2004 and Andersia Tower was sold to DEKA Immobilien in January 2008. Sven von der Heyden, Chairman of Von der Heyden Group, said: The crisis on the fi nancial market has put most of our projects on hold for the last year or so. We are convinced that the ABC offi ce development will be another success of the Von der Heyden Group in Poznan and that our timing of commencing construction now is just perfect. For the realization of ABC development project, a special purpose company, Andersia Business Centre Sp. z o.o. will be established. Adam Trybusz, Managing Director of Andersia Property Sp. z o.o. and Von der Heyden Group in Poznan said: Last time we started a project in Poznan with such enthusiasm was with PFC over 10 years ago. Then, our enthusiasm expressed a beginning of a great adventure. Andersia Tower was a consequent continuation. ABC already today tells the story about taking up new challenges and loyal partnership. Andersia Business Centre (ABC) will be a high class, 5 storey above ground, offi ce complex located in front of the PFC and Andersia Tower Building in the very centre of Poznan, in the neighbourhood of the Old Town, Stary Browar and Poznan International Fairs. ABC will Andersia Business Center comprise of 14,500 sqm net usable area and two underground levels with 170 parking places. The investment value is estimated at 33 million. Financing negotiations are underway and the fi rst phase of the underground works are secured by own funds. The ABC building has been designed by the Architectural Studio of Ewa and Stanislaw Sipinscy who had also designed the previous two phases. Probuild Sp. z o.o. acts as the Project Manager. Knight Frank is an exclusive agent and a fi nancial advisor. The developer is currently in the process of discussing with a series of interested tenants in order to enter into pre-leases. Once a reasonable amount of pre-leases are in place, another tender for the above ground construction works will be organized. The ABC complex will complete the whole area composition. It will provide a representative frontage for Krolowa Jadwiga Street in Poznan. Additionally, between PFC and Andersia Tower, a modern illuminated pedestrian passage will be created leading to an internal patio between Andersia Tower and ABC. Together with a neighbour- ing Stary Browar it will add even more life to this offi ce, hotel and retail centre in Poznan. In the future, Von der Heyden Group plans also the fourth fi nal phase of Anders Square development, Andersia Silver. After Andersia Tower it will be the highest building in Poznan, the company has in place all necessary permits to construct up to 116m. 22 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