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Articles

Bucharest, in the top of world cheapest logistic destinations

Occupancy costs of logistics in Bucharest will only grow with 0.3% by 2017, to 77 dollars/sqm annually, being among the slowest evolutions forecast at global level, shows the most recent DTZ report dedicated to the market segment.

City Mall Offices – completion date and tenants

Greek businessman Ioannis Papalekas bought back for EUR 17.3 million the commercial centre City Mall in Bucharest, bankrupt in 2010. Apart the mall, Paplekas’ s company also bought other plots owned in Bucharest by Victoria Holding SA, the company that owned the project before the sale. Papalekas sold the mall in 2006 for EUR 103.5 million to the Australian fund APN European Retail.

Papalekas to invest EUR 60 million for 23-storeys office building

The company Corinthian Five, owned by the businessman Ioannis Papalekas, one of the most discreet, but active real estate investors one former showroom Porsche Aviaţiei. The plans involve the construction of an office building.

Rise in demand for logistics real estate in next two years

According to the results of a survey of senior property investors, developers and occupiers conducted by CBRE, the world’s largest commercial real estate services company, European occupier appetite for industrial and logistics property is expected to rise significantly in the next two years. In the opinions of 81 percent of the industry’s top professionals growth in e-commerce activity and the associated impact on the supply chain, which includes warehouse storage and logistics property means that the need for warehouse space will rise. The survey also identifies third-party logistics operators and retailers as important sources of demand for logistics space.

100% occupancy rate for Astoria Business Center

The virtual applications developer Sien, having an office with 50 employees in Bucharest, occupied the last available office space, of 850 sqm, in Astoria Business Center in Romana Sq., Bucharest, a transaction brokered by Esop real estate advisors.

NEPI to attract EUR 100 million on stock for acquisition financing

South-African fund New Europe Property Investments (NEPI), one of the most active real estate investors on the Romanian market in the last years, has attracted on the capital market EUR 100 million, the funds being destined to financing potential acquisitions in negotiation.

Strong growth in European property investment activity

The European commercial real estate investment market saw the third successive quarter of strong activity in Q2 2013 with total transactions of €31.1 billion - an increase of 13% on the same quarter last year, according to the latest data from CBRE.

Praktiker AG enters insolvency

Germany-based home improvement retailer Praktiker AG, who runs 27 stores in Romania, has filed for insolvency with the Local Court in Hamburg, the company announced.

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