Europe's Big Deal
In a 100-million euro transaction (about $114.6 million), CA Immo acquired the 233,600-sf Warsaw (Poland) Spire Building C, a 100 percent-leased multitenant building with an annual gross income of around 5.5 million euros (about $6.2 million). The property is part of the Warsaw Spire complex in the City Centre West at European Square. CA Immo, which acquired Warsaw Aspire Building B in 2017, bought the building from Ghelamco Poland. The Spire complex won Best Office and Business Development at the MIPIM Awards in 2017.
India's Office Market Shows Gains
Office space leasing activity in India rose 12 percent on a quarterly basis in 3Q2018. The increase accounted for about 10.9 million sf of space; through 3Q2018, the total for the year was 32 million sf. Almost 80 percent of leasing activity was centered in Bangalore, Mumbai, Hyderabad, and NCR (National Capital Region.)
Indian Industries with Top Demand
- Technology: 48%
- Engineering and manufacturing: 14%
- Coworking/business centers: 11%
- Research, consulting, and analytics: 7%
Source: CBRE's India Office MarketView, 3Q2018 Report
APAC Medical Centers Looking Healthy
Investment in Asia and Pacific medical centers rose 154.2 percent year over year in 2Q2018.
Source: Cushman & Wakefield's Winning in Growth Cities 2018/2019
Land Moves in Canada
Canadian industrial, commercial, and investment (ICI) land transactions totaled $3.8 billion in the first half of 2018 - an 82 percent year-over-year sales growth, thanks to strong construction activity.
ICI Land as % of Total Investment Activity
Source: Avison Young Commercial Real Estate Investment Review, North America and Europe, Fall 2018
Global Markets to Watch
German hotel investments had a vigorous 1H2018, with record-setting figures for single deals. Total investment was 1.9 billion euros, of which 1.6 billion were single deals, according to BNP Paribas Real Estate. Key drivers were increased demand and investment being evenly divided between foreign and domestic buyers. Most investment was centered in Berlin, Munich, Hamburg, Cologne, Stuttgart, Frankfurt, Dusseldorf, and Leipzig.