Market Data
International Beat
Poland’s Big Deal
Amazon is coming to
Poland: Panattoni Europe is set to deliver more than 200,000 sm to Amazon in
two distribution centers located in Poznań and Wroclaw, Poland. “The
distribution centers are the biggest contract in the history of Poland’s real
estate market,” according to Robert Dobrzycki, managing partner for Panattoni
Europe. Each center will employ up to 2,000 people, a definite boost to the
local economy.
English Workers Gain Space
While space reduction in
U.S. offices puts the squeeze on traditional office size, all this talk of 175
sf per worker is the music to the ears of U.K. office workers. Typical U.K.
offices allocate 100 to 125 sf per worker, according to Knight Frank. Of
course, personal office size probably won’t increase, but the addition of
collaboration rooms and other interactive spaces will up the square footage of
leases in U.K. office buildings.
“At $259 psf per year,
London Central (West End) has replaced Hong Kong (Central) as the world’s most
expensive office market. - CBRE
Markets to Watch
The 2014 FIFA World Cup
and the 2016 Olympics have put Brazil on the map for hotel chains, which are
hoping that domestic and regional tourism will fill the vast number of rooms
they are currently planning and constructing in secondary and even tertiary markets,
according to HotelNewsnow.com. Brazil currently has 180 hotels comprising more
than 30,000 rooms in the active pipeline, with Best Western, Wyndham Hotel
Group, Accor, and the Four Seasons in the planning and building stages.
“Spain looks much better
than Italy,” says Joe Valente, European head of research for real estate at
J.P. Morgan Asset Management. “Even though both countries will continue to
battle strong headwinds, rental and capital values look as though they have
reached the floor in Spain. In Italy, the downturn in values will run on for
another year.”