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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, retail and capital markets departments. Kirill has extensive experience in real estate being an advisor in the real estate department of VTB and a deputy head of the real estate department in VTB24. He is also a certified member of the CCIM Institute. Kirill will also bring to the firm his valuable knowl- edge in sales from such companies as MTS, Alfa-Bank and DHL. by Alexander Morari, CEO RealJobsCEE RECRUITMENT VIEWPOINT Trust but verify While we re all definitely impressed by the narrowing of the gap between East and West that the crunch has brought upon us (Poland is mentioned alongside France, Germany and the UK as an investment destination). However, while it is true that it is much easier to get a meeting with top talent if you re looking to hire property and real estate professionals, it is also much more important to vet them than ever before. And this is where the gap comes in - between the talent you want to be involved in your business and the talent that s available out there. In many countries it is completely normal to undergo a full background check, including financial and criminal history, or at least a very thorough reference evaluation (the employer checks anybody they want, not who you want them to). This is a tried and true way of evaluating your prospect s past performance. In Central and Eastern Europe reference checks are often taboo and at most time very shallow. They are basically grade school show and tells - the candidates show the employer two to three names and these in turn tell you about the potential hire. For the purpose of hiring a new employee the way things are done now are completely useless. Why is this important, especially now? Because of the seem- ing abundance of candidates. While in the last couple of years the prime role of a headhunter was to talk a great hire into your company, his or her role now is to keep the chaff away and let the best people in. And because there are so many people out there it is important that you choose the best people available, not just the available ones. A couple of weeks ago I had a conversation with the MD of a major international CRE developer operating in Poland who admitted that after recently looking for new hires among everyone available he limited the search to those gain- fully employed. So what goes into a good background check? A lot of work, but that s the backroom story. First of all a lot of people need to be talked to, not only the two or three names that the candidate gives you. These should include as many past employers as pos- sible, but also present and former coworkers and any stakeholders in projects the potential candidate was involved in. You do need to check the social networks, not as much to see what party your candidate let loose at, but to see who they know so that these people can be approached as a reference. If you are hiring someone based on a business-to-business basis then you can also request a variety of other documents, including criminal records, financial documents and others. You should include clients and other business partners. Past performance is a crucial indicator of future success and with the market where it is right now you can t afford to hire sub- par candidates, unless we want to be in this mess all over again. Panattoni expands its Project Management team Panattoni Europe has strengthened its property management team with the appointments of Kamil Krasoń in Warsaw and Dariusz Pomykała in Silesia. Kamil Krasoń graduated from the Krakow Institute of Technology, Civil Engineering Department. Krasoń speaks English and Russian. At Panattoni he will oversee the expansion of the park in Ożarów. Dariusz Pomykała graduated from the Poznań Institute of Technology, Construction Architecture and Environment Protection Department. Pomykała speaks Spanish and English. At Panattoni he will manage new projects in Silesia and in particular oversee the expansion of parks in Czeladź and Gliwice. New appointment at CBRE Luiza Wasiuk has been appointed an Administrator at the Industrial and Logistic Team. In her new role she will be respon- sible for administrating and updating data- bases, preparing marketing materials on industrial properties and supporting the Industrial Team with securing new clients. 26 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