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.”

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