ARTICLES LABELLED WITH TAG Poland

Nunner Logistics has signed a lease agreement for 22,869 sqm of warehouse space and 285 sqm of office and social space at Hillwood & LCube Wrocław East park, currently under construction in Dobrzykowice near Wrocław. Construction work is underway and is set to be completed by next July. The project is being developed in partnership between Hillwood and LCube, with Hillwood acting as investor and LCube as Development Manager, coordinating the development of the facility.

Panattoni has been awarded a loan of over €32 million from mBank to develop the first building of Panattoni Park Tricity East V. Regesta is to operate its largest logistics centre in Poland from the centre.

Panattoni has begun the construction of a tailor-made manufacturing facility for Maxcess - a provider of products and services for automated web-handling applications for converting lines. The project will allow for the relocation of the existing facility and more than double the employment. It will also serve as the main facility for the company's European operations.

According to the preliminary results of the parliamentary elections held in Poland on Sunday, after 2 terms and 8 years of independent rule, Prawo i Spawiedliwość (Law and Justice) will have to hand over power to the opposition. This is certainly good news for foreign investors, who may have feared worsening chaos in law and taxation and, in the longer term, Poland's potential exit from the structures of the European Union.

Duda Development has sold a Silesian retail park portfolio to a private investor. Avison Young represented the purchaser. The price has not been disclosed.

According to a survey conducted by Savills involving real estate investors with total Europe and Middle East assets under management (AuM) exceeding €500 billion, almost a third of investors are looking to adopt a more aggressive, value-added investment strategy over the next 12 months. This is up from 14% on last year’s survey, with only 28% expecting to deploy a more defensive strategy over the next 12 months, down from 55% last year.

Cushman & Wakefield has released a summary of retail market conditions in Poland. Approximately 200,000 sqm is likely to be added to the market by the end of this year. Most of that total will be delivered in retail parks that account for 77% of the development pipeline, which will be consistent with the trend seen in recent years. Rental rates are on an upward year-on-year trajectory while the average vacancy rate in the largest Polish cities has dipped by 1.2 pp year-on-year. 

Eshel Pesti has assumed the position of the new CEO of G City Europe. Or Ackerman will be the new Group Chief Financial Officer (CFO). 

During the first half of 2023, investment activity remained low due to increased financial costs and an uncertain outlook. As a result, there was a need for more price discovery across all sectors. In Poland, we are witnessing a similar tendency in European countries and the United States, and one of these trends is a reduction in investment volume. The rise in interest rates had a significant impact on transaction valuations and investment activity, leading to a challenge in determining the size, speed, and duration of price adjustments. JLL experts presented an analysis of investors' activity in Poland in comparison to CEE countries.

Panattoni is launching its second project in Warsaw’s Targówek district this year. The company is to deliver 17,615 sqm of space in an investment of €8.5 million. City Logistics Warsaw VI will be the company’s tenth development in Warsaw.