Rock Capital leases office space in Metropolitan Warszawa

Rock Capital, a Polish developer and investor focused on the retail park sector, has leased office space in the Metropolitan Warszawa building. The company’s new headquarters occupies 460 sq m on the first floor, offering views of the Grand Theatre and Moliera Street.

Rock Capital develops, commercialises, and sells retail parks in Poland. Its tenants include retailers such as Lidl, Rossmann, Biedronka, Sinsay, Media Expert, and Pepco. The company aims to create retail properties intended to serve local markets over the long term.

Joanna Kowalska-Szymczak, founder and CEO of EBRU Capital, which manages Metropolitan Warszawa, said Rock Capital’s decision reflects confidence in the building’s office environment.

The interior of Rock Capital’s new space was designed by BIT CREATIVE and Barnaba Grzelecki. Neo-Świat carried out the fit-out work. The office is part of a recently renovated floor featuring redesigned common areas and large glass entrances created by NOKE Architects. BNM – Real Estate Advisory advised Rock Capital during the negotiation of the seven-year lease, which was signed as a green lease agreement.

Jakub Linka, President of Rock Capital, said the choice of Metropolitan was driven by the building’s location, architectural quality, and functionality.

Metropolitan Warszawa, located at Plac Marszałka Józefa Piłsudskiego, offers 33,722 sq m of office space and 3,300 sq m of retail and service space. The building includes boutiques, a fitness club, and 441 underground parking spaces, with public parking and charging stations for electric vehicles. Facilities for cyclists are also available.

The property has received several certifications, including BREEAM Excellent for sustainability, the WELL Health-Safety Rating for safety measures, and a WiredScore Platinum rating for digital infrastructure.

KINGSTONE Real Estate names Harald Kraus to Advisory Board

KINGSTONE Real Estate, a Munich-based investment manager, has appointed Harald Kraus to its Advisory Board, effective 1 July 2025. Kraus, who recently retired from the management board of Sparkasse Rosenheim-Bad Aibling, will oversee matters related to banks and financial service providers on the Advisory Board.

Kraus has over 40 years of experience in banking and finance. Since 2014, he served on the management board of Sparkasse Rosenheim-Bad Aibling, where he was responsible for commercial lending, international business, proprietary trading, and managing the bank’s investment strategies. He stepped down from his role on 30 June 2025 and plans to continue working as an independent consultant. He has also held supervisory board positions at Bayerische Landesbrandversicherung AG, Bayerischer Versicherungsverband, and the housing association of the district of Rosenheim.

Dr. Tim Schomberg, CEO and co-founder of KINGSTONE Real Estate, said Kraus’s knowledge of institutional investors and real estate financing would be valuable for the Advisory Board, particularly in a changing market environment.

Commenting on his appointment, Kraus noted that, in addition to his banking career, he spent nearly nine years in senior management at Bio-Gate AG, a health technology company, where he served as CFO and helped prepare the company’s initial public offering. He said his background allows him to contribute perspectives from both banking and corporate sectors.

More than 20 regional banks, particularly savings and cooperative banks, are already among KINGSTONE Real Estate’s investors and clients. The company provides services including the structuring and management of proprietary real estate investments. The addition of Kraus to the Advisory Board is intended to support the firm’s strategy in this segment.

Accolade expands into South Bohemia with acquisition of GARBE Park České Budějovice

The investment group Accolade has expanded into the South Bohemian Region through the acquisition of GARBE Park České Budějovice from GARBE Industrial Real Estate. The transaction includes the completed and fully leased Hall 4, the newly constructed Hall 5, and development-ready land plots for future projects. The total value of the acquisition exceeds €100 million (approximately CZK 2.5 billion), making it one of the largest commercial real estate deals in the Czech Republic this year and the second-largest in the industrial segment.

GARBE Park České Budějovice, situated in Boršov nad Vltavou, began development in 2023. Once fully built, the park will cover roughly 490,000 square meters and offer over 230,000 square meters of rentable space, comprising logistics, manufacturing, office, and retail facilities. Construction is planned in two phases, with the first already underway and the second contingent on market demand. Accolade’s acquisition includes Halls 4 and 5, as well as land for further development, which will be undertaken by a joint venture between Accolade and GARBE.

Milan Kratina, CEO of Accolade, stated that the partnership with GARBE represents a significant milestone in the company’s strategy to expand regionally. He noted that the park in České Budějovice will become one of Accolade’s largest assets and emphasised the importance of investing in regional hubs to support economic development and create new opportunities.

Hall 4, covering nearly 20,000 square meters, is leased to manufacturing companies Taconova and HAUSER. Taconova, based in Switzerland, uses the facility for production and logistics related to heating, sanitary, and solar systems, while HAUSER operates supplementary storage for refrigeration units, including those supplied to the LIDL supermarket chain.

Hall 5, covering almost 30,000 square meters, was handed over earlier this year to NOBO AUTOMOTIVE, which manufactures seat sets for premium BMW vehicles at the site.

Both completed buildings have achieved BREEAM Excellent certification, reflecting a focus on sustainability. Features include systems for rainwater collection and reuse, green roofs and façades, heat pump-based heating, and energy-efficient LED lighting and heating controls.

Martin Polák, Managing Director of GARBE for Central and Eastern Europe, commented that GARBE Park České Budějovice demonstrates the company’s success in developing modern industrial parks attractive to both investors and tenants. He highlighted the park’s strong transport links, advanced infrastructure, and sustainability standards.

The first phase of the park will soon include two additional buildings. One will house a BILLA supermarket, serving both park employees and the public, while the other will be leased to TERA Systems and Gebrüder Weiss. Construction of two further buildings is scheduled for later this year, with approximately 160,000 square meters of land available for future development.

Accolade will assume asset management responsibilities for the entire park, while GARBE will continue providing property management services. Lukáš Répal, COO of Accolade, noted that the acquisition integrates well with Accolade’s portfolio and offers opportunities to apply the company’s asset management expertise across a diverse tenant mix.

Accolade received legal advice from Kinstellar, with TPA handling tax and financial due diligence, and Savills conducting technical due diligence. The seller, GARBE, was advised by CMS on legal matters, ASB on tax and financial advisory, and RotaGroup on technical due diligence.

GARBE Park České Budějovice benefits from a strategic location approximately two kilometres from the D3 motorway, providing connections from Prague through Tábor and České Budějovice to the Czech-Austrian border. The park is situated 90 kilometres from Linz, 300 kilometres from Munich, 400 kilometres from Budapest, and 500 kilometres from Berlin. It also lies just three kilometres from České Budějovice airport, further enhancing its accessibility.

Panattoni achieves WELL Gold certification for office space in Gliwice industrial facility

Panattoni has obtained WELL Certification at the Gold level for office space located within a build-to-suit (BTS) industrial project in Gliwice, Poland. The certification was awarded under the WELL v2 standard by the International WELL Building Institute (IWBI). This accomplishment marks one of the first instances in Europe where office space integrated into an industrial facility has received such recognition, highlighting how industrial real estate can meet the growing demand for healthier and more comfortable work environments.

The certified office covers approximately 3,600 square meters and is part of a research and development facility supporting a global automotive manufacturer in its work on conventional and advanced suspension systems. Panattoni noted that the project serves as a benchmark in the Polish market, particularly in the industrial sector where WELL Certifications remain rare. Achieving WELL Gold Certification required an integrated design approach, technical solutions, and close collaboration with the client.

Marek Foryński, Managing Director for BTS at Panattoni, stated that delivering a WELL Certified office within an industrial development demonstrates how tailored real estate solutions can address operational needs while also supporting employee well-being, employer branding, and talent attraction strategies.

The certification process focused on several health-related aspects, including ventilation systems that supply 30% more fresh air than typical standards, advanced water testing, moisture control measures, ergonomic workspace design, acoustic optimization, and natural lighting strategies. Emilia Dębowska, Head of Sustainability Europe at Panattoni, explained that achieving Gold Certification involved using low-emission materials, enhanced air filtration systems, rigorous water quality protocols, and biophilic design elements to promote both physical and mental well-being. She highlighted the critical role played by the client’s engagement and the expertise of WSP, the WELL Performance Testing Organisation, in achieving the certification.

Client collaboration was key to the project’s success, with active involvement in decisions related to thermal comfort, healthy food options, physical activity initiatives, and mental health support programs.

Each category evaluated during certification, such as air, water, nourishment, light, movement, thermal comfort, sound, materials, mental health, and community, contributes to advancing the United Nations Sustainable Development Goals. Ann Marie Aguilar, Senior Vice President for EMEA at IWBI, praised Panattoni’s achievement as a demonstration of commitment to creating workspaces that prioritise health and well-being.

WELL Certification is based on research into the relationship between building environments and the health of their occupants. The office space at Panattoni’s BTS facility in Gliwice underwent comprehensive testing and third-party evaluation to confirm compliance with WELL Gold standards.

This certification underscores Panattoni’s position as a leader in delivering modern industrial spaces that align with high standards of sustainability and employee well-being.

HelloParks CEO Rudolf Nemes on scaling sustainably and expanding Hungary’s industrial footprint

In a recent Q&A with CIJ EUROPE, Rudolf Nemes, CEO and Co-founder of HelloParks, discusses the company’s strategic expansion plans and commitment to sustainable growth in Hungary’s industrial real estate sector.

Q: How would you describe the current state of HelloParks’ development pipeline in Hungary? Which areas are seeing the highest demand for logistics and industrial space?

Rudolf Nemes: HelloParks currently holds an industrial property portfolio of over 400,000 square metres across four key locations around Budapest—Páty, Maglód, Fót, and Alsónémedi. We’re actively developing close to 90,000 sqm of new logistics space and have an additional 500,000 sqm in our future development pipeline. Our strategy continues to be demand-driven, and at the moment, HelloParks Budapest West in Páty stands out as the most dynamic in terms of transaction volume. We recently closed the largest industrial property deal in Hungary’s history, selling our PT2 and PT3 buildings—totalling 84,000 sqm—to the ERSTE Open-Ended Real Estate Investment Fund. The scale of the transaction has generated significant international interest.

Q: Are you seeing any specific trends in tenant expectations, particularly around building features and sustainability?

Nemes: Absolutely. There’s a clear shift in the market towards high-quality, energy-efficient, and sustainable industrial buildings. This is something we’ve prioritised from day one—it’s embedded in our DNA. Today, many of our tenants select us specifically because our developments support their ESG targets. We’re seeing that operational efficiency, long-term cost savings, and environmental performance are becoming decisive factors in leasing decisions.

Q: How is HelloParks performing in terms of ESG and green certification goals for 2025?

Nemes: Sustainability is central to how we build and operate. Since 2023, we’ve committed exclusively to constructing warehouses that meet BREEAM New Construction Outstanding standards and comply with EU Taxonomy requirements. Except for our latest facility, HelloParks Alsónémedi AN1, which is currently under assessment, our entire portfolio meets these criteria. We believe this level of certification consistency is unique in Hungary and rare even across Europe. For us, achieving these standards is not just a formality—it’s a fundamental aspect of our business model.

Q: How have macroeconomic factors like inflation and interest rates impacted your operations this year?

Nemes: Like most developers, we’ve felt the pressure from higher financing costs and inflation. These factors can slow down decision-making and the pace of new investments. On the construction side, we’ve also encountered increased material and labour costs, as well as supply chain bottlenecks, though we’ve managed to adjust our timelines accordingly. On the leasing front, demand remains strong in sectors like e-commerce and FMCG, while manufacturers are approaching new leases more cautiously in the face of broader industry uncertainty. Our focus remains on providing scalable and flexible warehouse solutions that can adapt to changing market conditions.

Q: Looking ahead, what are HelloParks’ growth priorities over the next 12 to 24 months?

Nemes: Our main priority is balanced and sustainable growth. We aim to continue delivering approximately 100,000 sqm of new space annually, scaling to meet actual market demand rather than speculative targets. At the same time, we’re exploring opportunities to expand beyond Hungary and enter new markets. We’re evaluating several promising locations and considering new formats in the industrial space segment. The goal is to maintain our flexibility and resilience while continuing to meet evolving client needs in a competitive landscape.

Hagag expands residential ambitions and enters hospitality sector in Romania

In a recent CIJ EUROPE interview, Andreea Dumitru, Chief Marketing Officer at Hagag Development Europe, shared insights into the company’s expanding residential portfolio in Bucharest and its strategic move into the hospitality sector.

Hagag Development Europe is experiencing strong momentum in the Romanian residential market with its large-scale project, H Pipera Lake, while also marking its entry into the hospitality sector through a new partnership with Radisson Hotel Group. Andreea Dumitru, Chief Marketing Officer at Hagag, shares insights into the group’s development strategy, market response, and long-term investment vision.

H Pipera Lake is Hagag’s largest residential undertaking in Bucharest, targeting the middle-market segment. Located on a generous 55,000 sqm plot with direct lakeside access, the master plan envisions 16 residential buildings and integrated community amenities. The first phase, consisting of five buildings and 435 apartments, sold out before construction was completed—a result Dumitru considers exceptional in the current market.
With over half of the 450 units in phase two already reserved or pre-sold ahead of construction, the development’s appeal is clear. The project’s success stems from a strong combination of location, thoughtful design, and a holistic community concept. Future phases will benefit from enhancements based on feedback gathered during phase one, including an outdoor fitness area located on the lakeside promenades, an extra playground, and improved layouts. A first commercial building of around 1,000 sqm is set to open later this year, while additional retail spaces will be delivered with phase 3.

According to Dumitru, buyers are drawn to H Pipera Lake for more than its setting. The area offers proximity to international schools and major office hubs, making it attractive to families, investors, and professionals. Apartments feature generous layouts, smart partitioning, and options like ground-floor units with private gardens—highly sought-after in the post-COVID market. Some gardens reach up to 70 sqm, often commanding prices higher than upper-floor apartments.

Hagag has also introduced its own building administration services, maintaining property quality and operational efficiency long after delivery. The company handles property management through its internal teams, ensuring quick response times and long-term value for residents. This approach has been well received at other projects like H Victoriei 139, further solidifying Hagag’s hands-on model.

As part of its broader growth strategy, Hagag has diversified into hospitality with the upcoming Radisson RED hotel in Bucharest. The future hotel, located on Vasile Lascăr Street in a historic building dating back to the 1940s, will be the first Radisson RED in Romania. The decision to enter the hotel segment followed a detailed feasibility study which identified a gap in the city for modern lifestyle hotels.

Hagag aims to create a destination, not just a place to stay. Plans include a street-facing restaurant accessible independently from the hotel lobby, designed to attract both tourists and local residents. The project reflects a growing appetite for lifestyle-driven experiences and is expected to contribute to the revitalization of the Vasile Lascăr area.

Beyond Bucharest, Hagag is exploring hotel investments in the mountains, prioritizing year-round destinations over seasonal ones like the seaside. The company is evaluating both new developments and the adaptive reuse of historical properties, including a complex project on the Susai plateau in Predeal. A master plan has already been developed, with concept finalization and permitting expected in the next two years.

Dumitru emphasizes that these expansions are part of Hagag’s strategy to build a balanced portfolio across multiple asset classes, helping to mitigate market risks and ensure long-term sustainability. The group continues to invest across residential, commercial, office, and now hospitality segments—while remaining open to future moves into industrial real estate.

With over 1,400 units planned at H Pipera Lake alone and a growing presence in both city and mountain hospitality markets, Hagag Development Europe is positioning itself as a diversified, future-ready developer with a strong focus on user experience, community, and value creation.

In addition, Hagag has recently expanded its commercial office footprint by acquiring a stake in a mixed-use building near Herastrau Park, in partnership with Nero Investment Group, owners of Grand Hotel Bucharest and Corinthia Grand Hotel du Boulevard. The building, currently undergoing refurbishment, will deliver 5,000 sqm of office space and 1,100 sqm of ground-floor retail. Completion is expected by September, with leasing discussions already underway for about 2,000 sqm. This marks Hagag’s first formal joint venture structured under a classical JV format.

Hagag expands residential ambitions and enters hospitality sector in Romania

In a recent CIJ EUROPE interview, Andreea Dumitru, Chief Marketing Officer at Hagag Development Europe, shared insights into the company’s expanding residential portfolio in Bucharest and its strategic move into the hospitality sector.

Geosan Development begins construction of Benkova Rezidence in Prague’s Chodov district

Geosan Development has commenced construction of the Benkova Rezidence project, a new residential development in the Chodov district of Prague. The project consists of two four-storey villa-style buildings that will offer a total of 40 apartments, ranging from one-room to four-room units. Nearly 75% of the apartments have already been sold ahead of the project’s completion, which is scheduled for spring 2027.

Benkova Rezidence is designed to integrate into the existing residential area in a quiet part of Prague 4. The development combines low-rise architecture with modern living standards, featuring a significant number of two-room and three-room apartments. Ground-floor units will include private gardens, while upper floors will offer balconies. The top floor will have terraces of up to 80 square metres, providing views of the surrounding greenery.

The architectural design focuses on simple, modern aesthetics, with building facades blending anthracite and light tones to harmonise with nearby structures. Green roofs are planned to enhance the local microclimate and contribute to environmental sustainability.

The apartments will feature vinyl flooring, large-format tiles, and energy-efficient windows and doors measuring 210 cm in height. Buyers will also have the option to customise their units through the developer’s client centre.

Located in an area with comprehensive amenities, Benkova Rezidence is close to schools, kindergartens, sports facilities, and Chodovská tvrz park. The Chodov metro station provides direct access to Prague’s city centre, and residents will have nearby access to supermarkets, bakeries, and cafés.

Jiří Baloun, Head of Sales and Marketing at Geosan Development, stated that the high level of pre-sales indicates continued demand for well-designed housing in accessible and attractive locations. He expressed satisfaction that the project aligns with the company’s vision of creating a harmonious and functional living environment.

International retailers select SES shopping centers for market entry

International retail brands are increasingly choosing shopping centers managed by SES Spar European Shopping Centers for their market launches in Central and Southeastern Europe. Recent developments in Austria and Slovenia illustrate this trend, with several prominent brands opting for SES locations due to their high footfall, accessibility, and diverse retail offerings.

In Slovenia, KIKO Milano and Fashion&Friends are set to open their first stores exclusively in SES-managed shopping centers. KIKO Milano will debut at EUROPARK Maribor in July and expand to CITYPARK Ljubljana in the autumn. Fashion&Friends, operated by Fashion Company, a leading fashion retailer in Southeast Europe, will open its first Slovenian store in CITYPARK Ljubljana later this year.

In Austria, the international retail concept HIGGINS is preparing to launch its first store globally at HUMA ELEVEN in Vienna. The new 500 square meter store, opening at the end of August, will offer a range of streetwear, sneakers, accessories, and lifestyle products for all ages, featuring brands such as Puma, Under Armour, Levi’s, JDY, and the HIGGINS private label.

Christoph Andexlinger, CEO of SES Spar European Shopping Centers, noted that the company’s shopping centers continue to attract international retailers seeking strong market entry points. He emphasized that SES focuses on high-quality standards and customer needs, creating conditions that support successful retail operations.

SES operates as a developer, builder, and manager of shopping centers in six Central European countries: Austria, Slovenia, Italy, Hungary, Croatia, and the Czech Republic. The company manages 31 shopping centers with a total leasable area exceeding 855,000 square meters. In 2024, SES shopping centers recorded more than 117 million visitors, generating a total sales turnover of €3.54 billion. The company also offers development, construction, leasing, and management services to external shopping center owners and has received numerous national and international awards for architecture, sustainability, and innovative marketing. SES is part of the SPAR Austria Group.

Photo: Christoph Andexlinger, CEO SES Spar European Shopping Centers

NEPI Rockcastle expands renewable energy capacity with 54.1 MW solar park in Romania

NEPI Rockcastle plans to increase the share of self-generated renewable energy supplying its shopping centres and tenants in Romania to 48% of their electricity demand by the end of 2026, up from 6% at the end of 2024. The company is constructing a new 54.1 MW solar park in western Romania as part of a €110 million investment programme, which represents the largest green energy commitment to date by a non-energy corporate across Central and Eastern Europe.

The solar park, located in Chișineu-Criș in Arad County, began construction in January 2025 and is expected to be connected to the grid in the fourth quarter of the year. Once operational, the facility will account for roughly a third of NEPI Rockcastle’s planned total photovoltaic capacity of 159 MW, encompassing rooftop and ground-mounted installations across 28 properties and various greenfield projects.

LONGi Solar, a major global manufacturer of photovoltaic panels, supplied 84,000 Hi-MO 9 back contact (BC) modules for the project. These panels, with a module efficiency of 24.8% and enhanced thermal performance, are designed for high energy yield and low maintenance, suited to Romania’s climate conditions.

Andrei Radu, Group Development Director at NEPI Rockcastle, stated that the company’s renewable energy programme is progressing in stages as part of its broader sustainability and decarbonisation strategy. He explained that the €110 million investment includes photovoltaic installations across 23 properties in Central and Eastern Europe and greenfield developments in Romania. Radu noted that partnering with LONGi for the Chișineu-Criș solar park supports NEPI Rockcastle’s goal of increasing renewable energy use and energy autonomy across its retail portfolio.

The project is being delivered through SOLPOWER Energy, with engineering and construction services provided by Enevo Group. It represents the largest utility-scale solar development in Romania focused on retail infrastructure.

The Chișineu-Criș solar park is expected to generate approximately 70,171 MWh of electricity annually, sufficient to supply power to around 29,300 Romanian households and offset an estimated 21,100 tonnes of CO₂ emissions each year.

Mirel Jarnea, Country Manager Utility Scale Business Unit at LONGi, highlighted the role of BC technology in improving performance and ensuring energy stability for large-scale projects like NEPI Rockcastle’s operations in Romania. Eduard Meiloiu, Executive Director Renewables BU at Enevo, emphasised the benefits of the technology, citing higher efficiency, improved thermal performance, and long-term reliability, all of which contributed to delivering a project tailored to local conditions and aligned with Romania’s sustainability targets.

In addition to its environmental benefits, the Chișineu-Criș project has contributed to the local economy in Arad County by creating over 100 jobs and involving regional contractors during the construction phase, demonstrating the broader socio-economic impact of renewable energy investments.

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Latest news

All posts by fletcher@cijeurope.com.

Rock Capital leases office space in Metropolitan Warszawa

KINGSTONE Real Estate names Harald Kraus to Advisory Board

Accolade expands into South Bohemia with acquisition of GARBE Park České Budějovice

Panattoni achieves WELL Gold certification for office space in Gliwice industrial facility

HelloParks CEO Rudolf Nemes on scaling sustainably and expanding Hungary’s industrial footprint

Hagag expands residential ambitions and enters hospitality sector in Romania

Hagag expands residential ambitions and enters hospitality sector in Romania

Geosan Development begins construction of Benkova Rezidence in Prague’s Chodov district

International retailers select SES shopping centers for market entry

NEPI Rockcastle expands renewable energy capacity with 54.1 MW solar park in Romania