Ewelina Rolak joins Avison Young’s valuation and advisory team in Poland

Avison Young has appointed Ewelina Rolak to its Valuation and Advisory team in Poland, where she will serve as a Valuer.

Rolak is a certified property valuer with experience in both commercial and residential real estate. Early in her career, she focused on the retail sector, working with owners and managers of shopping centres. Over time, her work has expanded to include valuations of retail parks, warehouses, development projects, office buildings, investment land, and specialised assets such as build-to-suit (BTS) developments.

In addition to her valuation experience, Rolak has worked on the lending side, where she assessed property values for collateral purposes and reviewed construction cost estimates related to loan disbursements.

Prior to joining Avison Young, she held roles at CEETRUS, Bank Pekao S.A., and Emmerson Evaluation.

One Friary topping out marks progress on sustainable office project in Bristol

One Friary, a major office development in Bristol’s Temple Quay, has reached a key construction milestone with the completion of its structural framework. The topping out ceremony, held this week, marks a significant step forward in the delivery of the nearly 60,000 sq ft building, which remains on schedule for completion in the first quarter of 2026.

The development is owned by Danish pension fund Britannia Invest A/S, a long-term investor in Bristol since acquiring the site in 2002. Located just a minute’s walk from Bristol Temple Meads station, One Friary is positioned to meet high environmental standards, targeting BREEAM Outstanding, EPC A, and WELL Gold certifications.

Led by Catella APAM and Bankfoot APAM, and constructed by Beard Construction, the project involves a collaboration of specialists including tp bennett (architect), Core Five, Heyne Tillet Steel, and Box 20. As part of its sustainability strategy, the project retains 85% of the original concrete frame, which has resulted in an estimated 1,700 tonnes of embodied carbon being preserved—exceeding key industry benchmarks.

William Grenfell, Associate Director at Catella APAM, noted that the milestone reflects both Britannia’s long-term commitment to the city and the project team’s goal to deliver a high-performing office environment for future tenants.

Roxine Foster, Director at LSH, said the progress underscores a strong level of interest from occupiers seeking high-quality, sustainable office space in Bristol. With flexible layouts, high-spec amenities, and a rooftop terrace, One Friary is being positioned as a key addition to the Temple Quarter’s ongoing regeneration.

The building is now being actively marketed, offering floorplates between 7,500 and over 9,000 sq ft across seven floors, including a sixth-floor terrace and a double-height entrance featuring a commissioned artwork by Bristol-based artist Frea Buckler.

CA Immo sells Berlin logistics property as part of portfolio realignment

CA Immo has completed the sale of a logistics property located at Buckower Chaussee 43-58 in the Marienfelde district of Berlin. The asset comprises a site of approximately 53,000 square metres and includes a warehouse complex with around 12,000 square metres of lettable space. The property is 92% leased, generating annual rental income of €1.2 million. The transaction was concluded at a price above the most recently reported book value.

The sale aligns with CA Immo’s strategy of focusing on core office properties in prime urban locations. Non-core assets that do not meet criteria related to asset class, location, or long-term value creation potential are being divested under this approach.

Keegan Viscius, CEO of CA Immo, stated that the sale supports the company’s portfolio optimisation objectives by removing assets that fall outside its strategic focus. The property in question was the last in the portfolio powered by oil, which also influenced the company’s decision due to sustainability considerations. Proceeds from the transaction may be allocated to general corporate purposes, reinvestment in the core portfolio, debt reduction, share buybacks, or new external investments if appropriate opportunities are identified.

Cushman & Wakefield acted as commercial advisor and broker on the transaction. Legal advice was provided by GÖRG.

Spire Global leases space in CUBE property near Munich for German expansion

Catella Investment Management GmbH and Catella Real Estate AG have signed a long-term lease agreement with Spire Global for approximately 1,200 square meters of office and light industrial space in the CUBE complex in Taufkirchen, near Munich. The space will support Spire Global’s expansion into Germany, providing facilities for offices, development, assembly, and product testing.

Spire Global, an aerospace company with operations in the US, Canada, Luxembourg, and the UK, is establishing its German branch in the CUBE property. The company operates a large network of multi-purpose satellites and will use the leased space as part of its European growth strategy.

CUBE was acquired by Catella in 2014 for the special real estate fund “Immo-Spezial – Wirtschaftsregion Süddeutschland.” Originally built in 1973 and expanded in 1989, the complex includes two buildings with a total of 16,500 square meters of office and commercial space. Catella, in partnership with turn Real Estate GmbH, is repositioning the property to accommodate a wider range of uses, including medical offices, commercial housing, production, gastronomy, and educational facilities. Planned upgrades also include improved accessibility and additional shared spaces.

Michael Keune, Managing Director of Catella Investment Management, noted that the leasing agreement reflects the success of the repositioning strategy, which aims to update existing buildings without demolition. The project demonstrates how legacy assets can be adapted for modern business needs.

Spire Global CTO Gabiel Oehme stated that the new space provides the flexibility the company needs as it builds a long-term presence in the region, citing the local talent pool and proximity to other innovative companies in the aerospace sector.

Located on the southern edge of Munich, the CUBE complex benefits from access to the Taufkirchen S-Bahn station and nearby motorway connections, offering convenient transportation links to Munich’s city center and airport.

Legal and advisory support for the lease was provided by DLA Piper, while IGENUS Immobilien GmbH & Co. KG acted as the leasing broker.

GCC markets remain resilient amid mixed global signals in July 2025

The Gulf Cooperation Council (GCC) financial markets displayed a steady performance in July 2025, as mixed global signals and regional developments shaped investor sentiment. According to Kamco Invest’s “GCC Markets Monthly Report – July 2025,” most GCC equity markets closed the month in positive territory, with Qatar, Abu Dhabi, and Dubai leading gains, while Bahrain and Oman registered declines.

Qatar’s stock market posted the region’s strongest performance in July, gaining 8.1%, driven by robust earnings and growing investor confidence. Abu Dhabi’s ADX rose 3.6%, while Dubai’s DFM gained 3.3%, supported by positive corporate results and increased trading activity. In contrast, Bahrain’s market fell 1.2% and Oman dipped 0.5%, reflecting weaker investor sentiment in those markets.

Saudi Arabia’s Tadawul index remained relatively stable, edging up by 0.4% for the month. The broader TASI index hovered near the 12,000-point mark, supported by strong earnings in the banking and materials sectors. However, trading volumes were mixed, and retail investor participation showed signs of moderation.

Market capitalization across the GCC increased by $64.1 billion in July, with Saudi Arabia accounting for nearly 80% of the total monthly gain. Year-to-date, GCC markets have added around $167 billion in market capitalization.

Sector-wise, the GCC saw strong gains in telecom, utilities, and capital goods, while the pharma and transportation sectors posted the steepest losses during the month. The telecom index led with an 11.2% gain.

In the fixed income space, GCC sovereign bond yields tracked US Treasury trends, reflecting expectations of a prolonged period of high interest rates amid persistent inflation concerns. The US Federal Reserve maintained its policy stance in July, and markets adjusted expectations for a rate cut timeline accordingly.

On the IPO front, Saudi Arabia continued to dominate GCC listings activity. The Kingdom hosted five IPOs in July alone, raising more than $1 billion. Key listings included Modern Mills Co. and Middle East Pharmaceutical Industries, underscoring investor interest in consumer and healthcare sectors.

Kamco Invest’s report suggests that while macroeconomic uncertainties and interest rate dynamics remain in focus, GCC markets are likely to benefit from stable oil prices, strong fiscal positions, and ongoing economic diversification efforts. Investor attention in the coming months is expected to remain on corporate earnings, US economic policy, and regional listing activity.

Construction begins on new City Park Warsaw building, adding 10,000 sqm of flexible space

Construction has started on the latest phase of City Park Warsaw, expanding Poland’s largest Small Business Units (SBU) complex. The new building will add 10,000 sqm of space combining warehouse and office functions, bringing the park’s total area to over 45,000 sqm upon completion.

The project is designed to meet growing demand from companies seeking operationally independent spaces that balance functionality and cost efficiency. The facility will meet BREEAM Excellent certification standards and will include energy-efficient features such as heat pumps, photovoltaic systems, water recovery infrastructure, and charging facilities for electric vehicles.

The building offers separate warehouse and office modules with ground-level access, loading docks, private entrances, and no shared areas. Office units are air-conditioned, well-lit, and delivered in a fit-out ready condition. For many users, the space will function not only as a warehouse but as a base of operations for logistics, meetings, or testing.

Ideal Idea, the project’s developer, is overseeing the entire process in-house, from design and construction to ongoing property management. The direct involvement of the developer enables quicker decision-making and responsiveness to tenant needs.

The building is situated along the S2 expressway, offering strong visibility and access from across Warsaw. Five modules remain available, each offering approximately 568 sqm of warehouse and 127 sqm of office space, with the option to lease multiple units. Flexible office layouts are also available on the upper floor. The building is scheduled to be ready for occupancy by March 1, 2026, with early access possible from February.

Ideal Idea was founded in 2008 by Andrzej Dużyński and specializes in developing urban SBU parks that combine warehouse functionality with Class A office space. The company currently manages over 100,000 sqm of gross leasable area across Warsaw and Wrocław.

GARBE Industrial establishes GARBE Regeneration to focus on brownfield redevelopment

GARBE Industrial is expanding its operations with the launch of GARBE Regeneration, a new subsidiary dedicated to identifying and redeveloping underutilised land. The new company will formally begin operations on 1 August 2025 and will focus on the revitalisation of brownfield sites, acquisition of development rights, and preparation of land for industrial, logistics, and commercial use.

The initiative responds to a declining supply of newly zoned development land in Germany and increasing constraints on land availability. GARBE Regeneration is intended to support the reuse of land that has previously remained vacant or contaminated, bringing it back into productive economic use.

The new entity will be jointly led by Maik Zeranski, currently a member of the GARBE Industrial management board responsible for development, and Rick Mädel, a specialist in brownfield redevelopment. Mädel brings over a decade of experience in the field and is the founder of Brownfield24 and chairman of the German Brownfield Association (DEBV). The management team also includes Adrian Zellner, GARBE Industrial’s Head of Business Development, who will continue in his current role while contributing to the new unit.

GARBE Regeneration will initially concentrate on industrial, logistics, and commercial projects. According to Zeranski, the redevelopment of brownfield land requires complex technical, legal, and economic coordination that benefits from being handled within a dedicated structure. The spin-off will allow for a more systematic and effective approach to such projects.

The company’s strategy is shaped by findings from GARBE Research, which indicate that in core logistics hubs like North Rhine-Westphalia, land development capacity may be fully exhausted by 2037. GARBE Regeneration is thus positioned as part of a broader effort to implement sustainable land use policies across Germany and Europe.

Rick Mädel emphasised that the reuse of brownfield land is no longer a secondary strategy but an essential element of future real estate development. By focusing on regeneration rather than expansion, the company aims to support long-term regional sustainability.

Neo Natolin project in Warsaw prioritizes sustainable construction and environmental integration

Real Management S.A. is advancing the construction of Neo Natolin, a residential estate located on Korbońskiego Street in Warsaw’s Wilanów district, with a strong focus on environmental responsibility and sustainable urban planning. The development features semi-detached single-family homes with private gardens, built using low-emission materials and designed to align with ecological principles.

The project integrates solutions such as heat pumps, ventilation systems with carbon filters, and infrastructure for electric vehicle charging and photovoltaic installations. Fireplaces and fossil fuel-based heating have been excluded from the design, and natural, low-emission materials have been used throughout the construction process.

The site plan includes landscaped areas, a retention reservoir for water management, and plantings that enhance biodiversity. In the first phase, 95 trees and more than 9,300 shrubs, grasses, and perennials were introduced, with species chosen to support pollinators and natural habitats.

Each plot in the estate has been planned with 70 percent of its area as biologically active space. Recreational features such as green squares, a pond, and play areas have also been incorporated into the layout.

Neo Natolin will eventually consist of around 200 homes. The first 84 were completed in summer 2024, and the second phase will add 58 more in various sizes ranging from 190 to 258 square meters. Construction of the next segment is scheduled to start in the third quarter of 2025.

The architectural concept for the project was developed by the APA Wojciechowski studio.

Stradivarius opens first store in Saarland at EUROPA-Galerie Saarbrücken

Fashion retailer Stradivarius opened its first store in Saarland at the EUROPA-Galerie shopping centre in Saarbrücken. The new store occupies approximately 975 square metres on the ground floor and offers a range of clothing, footwear, jewellery, and accessories. The leasing was managed by Sonae Sierra, which oversees the EUROPA-Galerie on behalf of owner Union Investment.

The addition of Stradivarius broadens the shopping centre’s retail offering and reflects the continued development of the fashion segment within the city centre. The EUROPA-Galerie is a frequent destination for shoppers from both Saarland and neighbouring France.

Stradivarius, part of the Inditex Group, operates over 800 stores in more than 60 countries. Since 2023, the brand has expanded its presence in Germany, with the Saarbrücken location marking its eighth store. Other Inditex brands, including Pull&Bear and Bershka, are already present in the EUROPA-Galerie.

Located near the main railway station, the EUROPA-Galerie features more than 1,050 parking spaces and hosts a mix of fashion, electronics, grocery, and food service retailers. It opened in October 2010 and is managed by Sierra Germany.

Brno and Ostrava Office Market Update: H1 2025 Regional Research Forum Data

The Regional Research Forum, a consortium of CBRE, Colliers, Cushman & Wakefield, iO Partners, Knight Frank, and Savills, has released office market data for Brno and Ostrava for the first half of 2025. The data offers a transparent overview of regional trends, supply, vacancy rates, and rental levels.

In Brno, one new office building—Titanium Skylight X, developed by JRA Estate—was completed in the first half of the year, adding 10,900 sqm to the city’s stock. This brings Brno’s total modern office inventory to 704,900 sqm, with 73% classified as Class A space. Office construction continues with ten projects underway totaling 103,100 sqm, including major developments such as Dornych (27,600 sqm), Ponávka A4 (16,800 sqm), and Cerit III (10,800 sqm), the latter scheduled for completion in the second half of 2025.

Tenant demand in Brno was led by the energy sector, which contributed the most significant leasing activity. The largest transaction was a pre-lease of 10,500 sqm in Nová Zbrojovka D4 by an energy company, followed by deals involving Sudop Real and Abugo. The vacancy rate rose to 12.7%, up 1.1 percentage points year-on-year. Prime headline rents increased slightly to between €17 and €18 per sqm per month.

In Ostrava, modern office stock stood at 245,700 sqm at the end of H1 2025. No new completions were recorded, and only one project—the Václav multifunctional building (3,000 sqm)—is under construction, with completion expected in 2027. Leasing activity was led by Satum Czech’s new lease of 1,900 sqm in IQ Ostrava. Other deals involved financial and technology sector companies. The vacancy rate declined to 10.7%, a drop of 1.1 percentage points year-on-year. Rents remained stable at €14.00 to €14.50 per sqm per month.

Overall, Brno continues to demonstrate strong development activity relative to its market size, driven by a qualified labor force and demand for modern space. In contrast, Ostrava’s market remains stable but with limited new supply in the pipeline.

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