Crosspoint Real Estate reports over 6,000 sqm of office leases in first half of 2025

Crosspoint Real Estate, the Romanian associate of Savills, completed office leasing transactions exceeding 6,000 square meters during the first half of 2025. The firm secured deals with tenants from sectors including technology, military equipment manufacturing, construction, and agricultural finance. These transactions bring the total value of office space leased through Crosspoint to more than €45 million.

According to Managing Director Valentin Neagu, the results reflect the company’s continued focus on strengthening its office division. He noted that the profile of tenants involved in the first-half transactions aligns with sectors currently generating the most leasing demand. Two-thirds of the leased space was located in Bucharest, occupied by new market entrants in tech, defence, and finance. The remainder involved a lease renewal in Cluj-Napoca by a technology firm for a space exceeding 2,000 square meters.

Mădălina Marinescu, Head of Office Agency at Crosspoint, observed a renewed interest in office space from IT companies. After a period of conservative space usage, more firms are now expanding, supported by a return of employees to physical offices. She sees this as a sign of stabilizing market conditions and growing confidence in the economic outlook.

Across Bucharest, total office leasing activity reached 112,225 square meters in the first half of the year, marking a 31% decrease compared to the same period in 2024. Net take-up stood at 62,718 square meters, down 23% year-on-year. The financial and banking sector led demand, accounting for 31% of all leased space, followed by technology at 16%, professional services at 15%, consumer and leisure services at 12%, and business services at 10%. Despite the shift, the technology sector maintained its lead in net demand, with over 13,000 square meters leased in new agreements.

The vacancy rate in Bucharest remained close to 12%, as no major new office deliveries entered the market during this period. Prime rents remained stable at €22 per square meter per month. However, Ilinca Timofte, Head of Research at Crosspoint, noted that rising energy prices, inflation, and higher taxes expected in the second half of the year may exert further pressure on rent and maintenance costs, potentially dampening tenant demand and expansion plans.

Leasing activity was concentrated in key office submarkets, led by the Center-West area with 32% of the total, followed by the Central Business District with 24%, and the Floreasca-Barbu Văcărescu area with 20%.

DHL extends lease and upgrades facility at CTPark Budapest East

DHL Supply Chain has extended its lease at CTPark Budapest East and has taken possession of a refurbished 8,600 sqm facility tailored to its operational requirements. The site will continue to serve as a key centre for warehousing, storage, and third-party logistics (3PL) services.

The new long-term lease agreement with CTP builds on more than 20 years of collaboration between the two companies. The updated facility reflects DHL’s ongoing need for infrastructure that supports its logistics operations while meeting evolving technical and environmental standards.

The building has undergone significant upgrades, including new office space, modernised mechanical systems, the installation of rooftop solar panels, and the integration of a heat pump system for energy efficiency. These improvements aim to enhance operational sustainability and align with DHL’s environmental targets.

Zoltán Kemény, Managing Director of DHL Supply Chain Hungary Kft., noted the importance of reliability and infrastructure in choosing to remain at the site, citing CTP’s long-term approach and flexibility in project execution as key factors.

The refurbished premises include LED lighting, intelligent building management systems, and heating and cooling via heat pumps. The facility has received a BREEAM “Very Good” certification, reflecting its adherence to sustainable building practices.

DHL’s long-standing presence at CTPark Budapest East has been supported by regular updates to the property. Past improvements include a new fan-coil system and liquid chiller, enabling the facility to remain compliant with current technical requirements.

CTP views the project as part of its broader strategy to maintain and modernise its existing properties to meet client needs. Péter Tar, Business Development Regional Lead at CTP Hungary, highlighted the focus on delivering high-quality, adaptable spaces that support long-term growth for occupiers.

Savills to oversee leasing of Biura przy Warzelni in Warsaw Brewery complex

Savills’ Landlord Representation department has been appointed as the exclusive leasing agent for Biura przy Warzelni, the largest office property in the Browary Warszawskie complex in Warsaw. The building is owned by DEKA Immobilien, which also owns other assets in the complex, including Willa Fabrykanta and the Warzelnia building that houses the Nine’s restaurant.

Completed in September 2020, Biura przy Warzelni is a modern, seven-storey office building with a total leasable area of 29,600 square metres. It includes a two-level underground car park with 180 spaces and is currently fully leased to tenants such as Grupa Żywiec, Allen & Overy, Instytut ADN, Point72, and Playtika. The ground floor is occupied by restaurants and a fitness facility, while the underground section connects to restored wine cellars. The property forms part of the larger, award-winning Browary Warszawskie complex, known for integrating contemporary architecture with revitalised historic structures.

In addition to Biura przy Warzelni, Savills will also be responsible for leasing Generation Park Z, an 11-storey, LEED Platinum-certified office building located at 28 Towarowa Street. The building, offering 17,500 square metres of office space, was added to Savills’ portfolio in March 2024. A further 4,000 square metres will become available in February 2027.

Jakub Parys, Associate Director at Savills, will lead the leasing efforts for both Biura przy Warzelni and Generation Park Z. He rejoined the company in early 2025 and is also responsible for Mokotowska Square at 49 Mokotowska Street. Savills continues to represent several DEKA Immobilien properties in Warsaw, including International Business Center, Grzybowska Park, North Gate, and Wise Point, as well as Andersia Tower in Poznań.

Browary Warszawskie is located in the central Wola district and is an example of post-industrial urban renewal in Warsaw. The mixed-use development brings together modern office space with preserved elements of the original brewery buildings, creating a setting that serves both commercial and public functions.

M1 Zabrze expands retail offering with new tenants and store upgrades

The M1 Zabrze shopping centre, managed by EPP, has recently expanded its retail offering as part of a broader strategy to meet the evolving expectations of value-conscious consumers. This follows the late-2024 opening of one of Poland’s first ATAC Hiper Discount by Auchan hypermarkets within the centre.

In the first half of 2025, M1 Zabrze added several new tenants, including the city’s largest HalfPrice store. The off-price retailer occupies nearly 2,100 sqm and offers a wide selection of fashion, sporting goods, homeware, pet accessories and international snacks. This addition was accompanied by the arrival of fashion retailers Greenpoint, Top Secret and Reporter, as well as jewellery brand VERONA.

Several existing stores have also undergone expansion or refurbishment. The Rossmann drugstore was modernised in line with its latest retail concept, and Sinsay reopened in a larger format offering an expanded selection across fashion, homeware and pet products. Sports retailer 4F is expected to open a new and larger-format store by the end of the summer.

In total, the recent retail changes involved nearly 4,000 sqm, representing over 5% of the shopping centre’s leasable area.

The retail updates align with EPP’s stated goal of catering to consumers who seek value and variety. According to the centre’s management, there is a growing preference for retail environments that support product discovery and price comparison, without compromising quality.

Beyond retail, M1 Zabrze is also promoting educational and leisure activities. Until the end of November, visitors can explore Kosmopark, a science-focused exhibition featuring over 40 interactive zones. The display includes a planetarium, virtual space expeditions, and workshops for children focused on space and science themes.

Poland’s property investment market holds steady in H1 2025

Poland’s commercial real estate market recorded stable performance in the first half of 2025, maintaining investment volumes on par with the same period last year. According to Avison Young’s latest market report, the total investment volume reached approximately €1.7 billion, spanning 63 transactions across all major asset classes. The industrial sector dominated the landscape, drawing the largest share of capital and registering the most high-profile transaction of the period.

The report highlights a shift in the profile of active investors. Institutional players remain cautious, constrained by falling asset valuations and global economic uncertainties. In contrast, private and domestic capital has become more prominent, with Polish investors contributing 14% of total volume and executing deals averaging €13 million. This trend is particularly notable in the residential and office segments.

The industrial and logistics sector continued its strong momentum, accounting for 40% of overall investment volume and setting a new benchmark for large-scale deals in the region. The most significant transaction was the €253 million sale and leaseback of two logistics facilities by window manufacturer Eko-Okna to U.S.-based REIT Realty Income Corporation—the largest such deal ever recorded in Central and Eastern Europe. Despite this standout transaction, the remaining 11 industrial deals all remained below the €80 million mark. Three portfolio deals were also closed during the period. Overall, the sector’s year-on-year performance nearly doubled, underscoring its status as a key engine of growth in Poland’s property market.

In the office market, investor activity remained selective but consistent, with a total investment volume of €411 million across 23 transactions. More than half of this activity occurred outside of Warsaw, reflecting growing interest in regional office markets. Polish investors were responsible for over one-third of the capital deployed in the office segment. While core capital remained relatively subdued, there was increased interest in value-add and core-plus opportunities, particularly in locations where pricing expectations between buyers and sellers have converged. Among the notable core deals were Wronia 31 and Plac Zamkowy in Warsaw, as well as High5ive I&II in Kraków.

Retail investments totalled €322 million across 20 deals in the first half of the year. Retail parks and convenience centres proved the most attractive to investors, representing 59% of the retail volume. The Czech-based investor My Park made its debut in the Polish market with the acquisition of the 10-asset A Centrum portfolio. Redevelopment activity also played a significant role, with the sale of Arkady Wrocławskie to Vastint and CH Glinki in Bydgoszcz to Redkom Development. Avison Young represented the sell-side in both transactions.

The residential sector, particularly private rented sector (PRS) investments, saw a total volume of €223 million. Of this, €150 million was focused on three PRS projects in Warsaw, with AFI Europe closing two deals and Syrena RE acquiring one asset from Xior Student Housing. In Gdańsk, NREP completed three co-living acquisitions, supported by advisory services from Avison Young. The PRS segment continues to consolidate, with the majority of existing stock held by Resi4Rent, Vantage Rent, and Fundusz Mieszkań na Wynajem. Resi4Rent also leads in terms of pipeline development.

Looking ahead to the second half of 2025, Avison Young notes that current market conditions remain favourable for buyers. With interest rate cuts on the horizon, yields are expected to compress, making this a potentially opportune time to invest. Mid-cap investors are expected to remain active across all asset classes, while core capital may return more assertively once broader economic stability is restored.

Auchan Krasne Shopping Centre adds new family amenities and leisure spaces

Nhood Services Poland has expanded the amenities at the Auchan Krasne Shopping Centre, introducing new family-friendly features aimed at improving comfort and enhancing the overall customer experience. The improvements include the reopening of the modernised Grycan café and the launch of a free outdoor playground for children.

The changes are part of a broader strategy led by Nhood Services Poland, which manages the centre on behalf of its owner, Ceetrus Polska. The focus is on evolving commercial facilities into multipurpose spaces that serve local communities while also aligning with sustainability principles.

The Grycan café and ice cream parlour reopened in July with a refreshed design that reflects the brand’s latest concept. Located near the indoor play area, the café now offers a more open layout and seating that encourages relaxation and social interaction. Soft furnishings, greenery, and an updated menu contribute to a welcoming atmosphere, particularly for families.

In June, Nhood introduced a new outdoor playground adjacent to the shopping centre. Designed with safety and accessibility in mind, the playground features swings, a carousel, slides, and other attractions in a landscaped area next to a public transport stop. The space includes seating for parents and has received full safety certification.

Auchan Krasne Shopping Centre has served the region for nearly twenty years, offering a range of retail options, including fashion, cosmetics, home goods, and an Auchan hypermarket. As part of its property and asset management responsibilities, Nhood also runs community-focused programmes at the centre, including workshops and theatre events aimed at families with children.

EU considers regulation of third-party litigation funding

Third-party litigation funding (TPLF), though still uncommon in Poland, has begun to gain ground, with a number of litigation funds already active in the market. Despite this development, there is currently no dedicated regulation at the national level. However, recent moves by European institutions suggest that this may soon change.

TPLF involves an external entity financing legal proceedings in which it has no legal stake, in exchange for a share of the awarded compensation. This arrangement is typically used by specialised litigation funds and aims to support parties lacking the financial means to pursue costly legal action.

According to Olga Gerlich and Marcin Rudnik from the dispute resolution team at Wolf Theiss in Warsaw, litigation funding can enhance access to justice by levelling the playing field in legal disputes. However, it also introduces certain risks, including potential conflicts of interest. Funders may exert influence over litigation strategy or limit the funded party’s ability to settle or withdraw claims.

Concerns have also been raised about the proportion of proceeds funders are entitled to receive and the extent to which these arrangements should be disclosed in proceedings. In some instances, especially in group claims involving small consumer interests, the funder and legal representatives may receive most of the compensation, leaving little benefit for the actual plaintiffs.

These concerns are reflected in a recent report published by the European Commission on 21 March 2025. The report, spanning 700 pages, analyses TPLF regulation across EU Member States and several non-EU jurisdictions. It follows a 2022 European Parliament resolution urging the Commission to investigate responsible litigation funding practices and to consider regulatory measures.

As part of its findings, the Commission included a draft directive outlining potential regulatory approaches. These include licensing and supervision of funders, transparency requirements, limits on funders’ influence, and rules on contract terms. The study also mapped how existing national laws align with the proposed framework.

In most EU countries, including Poland, the only TPLF-related provisions are found in laws implementing the Directive on Representative Actions. In Poland’s case, this includes requirements for disclosing funding agreements and assessing their influence on proceedings—though these measures currently apply only to consumer class actions.

Interviews conducted during the Commission’s research revealed that 58% of stakeholders support some form of regulation, with 29% favouring an EU-wide framework. Only 13% opposed regulation altogether.

The European Commission’s findings indicate a fragmented regulatory environment, which may hinder competition, transparency, and predictability in litigation funding. It remains to be seen how the European legislature will proceed, but further regulatory efforts are expected.

The global TPLF market was valued at USD 17.5 billion in 2024, with Europe accounting for 25% to 30%. Projections suggest the market could grow to over USD 67 billion by 2037.

Forte Partners begins construction of office component for U•Center 3

Forte Partners has started construction on the office section of U•Center 3, the final phase of its mixed-use development located on Calea Șerban Vodă in Bucharest. The building permit was issued at the end of June, with the residential portion of the project expected to begin in 2026.

U•Center 3 will include 12,500 sqm of office space, 1,700 sqm of retail area, and 200 apartments. The buildings will have a mid-rise structure, featuring two basement levels, a ground floor, and six upper floors, with the top two floors set back. This configuration aligns with the area’s existing urban planning profile.

The development continues the U•Center project, which began in 2019 and includes two completed office buildings, both fully leased and certified to LEED Platinum and WELL Core Platinum standards. The third phase will maintain similar sustainability targets, including certification under LEED, WELL, GRESB, and Access4you.

The office building will feature several energy-efficient technologies such as biophilic design, rainwater reuse systems, automated lighting responsive to natural daylight, and HVAC systems powered by heat pumps using low-impact refrigerants. The building will operate entirely on electricity, with no gas connection, and is designed to meet nearly Zero Energy Building (nZEB) standards.

Forte Partners plans to finalize the details of the residential portion later this year, with construction scheduled to begin in the first half of 2026. The overall project includes amenities such as a supermarket and café, and benefits from nearby metro and surface transport connections, as well as proximity to Tineretului and Carol Parks.

GARBE Industrial and Partners sell logistics property in Bitterfeld-Wolfen to Clarion Fund

GARBE Industrial, in partnership with BREMER Projektentwicklung and the Quakernack Group, has completed the sale of a logistics centre located in Bitterfeld-Wolfen to a fund managed by Clarion Partners Europe. The transaction price has not been disclosed.

Situated within the Technologiepark Mitteldeutschland, the logistics facility was developed in three phases and provides approximately 125,000 square metres of lettable space on a 222,000 square metre plot. The centre is currently leased to tenants from the automotive sector.

The property is positioned near the A9 motorway, offering transport links to Leipzig, Berlin, Nuremberg, and Munich. The buildings are equipped with air-source heat pumps and a rooftop photovoltaic system with a capacity of 4.5 MW. The project is targeting Platinum certification from the German Sustainable Building Council (DGNB).

Legal, tax, and transaction advisory services for the joint venture were provided by Norton Rose Fulbright, HLB Stückmann, and Logivest Stuttgart GmbH.

CA Immo sells stake in Eggarten residential development

CA Immo has finalized the sale of its stake in the Eggarten-Siedlung residential development project in northern Munich. The buyer is a group of shareholders from its joint venture partner, Büschl Unternehmensgruppe. This move aligns with CA Immo’s strategic objective to focus on high-quality A-class office properties in prime urban locations.

The Eggarten joint venture was established in 2016, with both CA Immo and Büschl contributing land in the Eggarten-Siedlung area. The project envisions a large-scale residential district featuring approximately 1,850 housing units, nearly half of which are intended as subsidised housing. The plans also include public amenities such as a primary school, childcare facilities, garages, retail outlets, and restaurants, spread across a total gross floor area of 228,000 sqm. Sustainable features like a local heating system powered by groundwater are also part of the proposed development.

“With the sale of our stake in the Eggarten-Siedlung project company, we are continuing to implement our strategy of concentrating on premium office assets,” said Keegan Viscius, CEO of CA Immo. “Proceeds from transactions like this will support reinvestment in our development pipeline, meet liquidity needs, or fund select external investments that offer attractive returns.”

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