Cushman & Wakefield recognized as the Best Retail Real Estate Agency in CIJ Awards Czech Republic 2020
Jan Kotrbáček, Partner & Head of CEE Retail Agency team, Cushman & Wakefield: “In times so challenging for retail, it is a great pleasure to be voted Best Retail Real Estate Agency, and an encouragement to continue our efforts in sustaining the sector on its way to recovery. I would like to thank all our clients and business partners for putting their trust in us as we keep supporting them in these unprecedented times with positive and constructive attitude all year long.“
Cushman & Wakefield retail professionals use the power of the firm’s regional as well as global networks and cooperate within international teams, sharing retail market experience from various countries with one aim: to restart and further develop the performance of the retail sectors in all areas and support customers´ return to shopping and leisure activities, while also embracing the opportunities the growth of e-commerce brings to retailers.
About CIJ Awards Czech Republic:
The CIJ Awards Czech Republic, now in its 20th year, recognizes and celebrates projects, transactions, companies, as well as teams that excelled over the past year. The CIJ Awards Czech Republic 2020 is intended to honour nominations for projects, deals and achievements completed between November 2019 and October 2020. Nominations are judged on a multidisciplinary basis.
The Czech real estate fund Trigea bought the Explora Business Centre office building in Prague’s Nové Butovice from Golden Star Group, an international real estate group, in one of the largest real estate transactions performed this year.
A total of 260 million euros was invested in commercial properties in Czechia in the first quarter of this year; this is roughly 9% less than in the same period last year. Following a period of waiting, the mood among investors is optimistic again, with great interest in buying and a high amount of capital on the market. Nevertheless, transaction activity is low – there is a shortage of real properties for sale. The development in Prague is low across the sectors. This can be a benefit for those seeking to buy – new projects face low competition. In effect, investors’ demand for Prague is huge and logistic properties are an obvious favourite. With almost no vacancy, rents are growing steeply, thus reducing yield and pushing prices dramatically upwards.
IKEA extended their lease contract at SEGRO Logistics Park Prague in the vicinity of the Václav Havel Airport. It will continue leasing the warehouse space totalling almost 12,500 sq m in the building it uses as a goods pick-up warehouse for its customers. The lease transaction was assisted by Cushman & Wakefield, a leading global real estate services firm.
A total of 23 retail park projects with a total area of almost 55,000 square metres were completed in the Czech Republic last year, with the volume of development exceeding a ten-year average. In effect, the aggregate area of all retail parks in the Czech Republic has exceeded one million square metres.
Cushman & Wakefield, a leading global real estate services firm, has analysed the trends in the industrial property sector in five Central European countries (Czech Republic, Hungary, Poland, Romania and Slovakia) in 2020, and the principal findings are as follows.
In 2020, the office market in Brno saw a decline in all indicators that Cushman & Wakefield has monitored in the long-term perspective: the number of projects completed and under construction decreased, as did the absorption rate and demand for space.
The latest STR figures show that the Prague hotel market has borne the brunt of the coronavirus crisis in Europe.
With 25 brands, Czech Republic is again the prime destination for international retail brands coming to the CEE , followed by Poland with half as many newcomers.
Cushman & Wakefield, a leading global real estate services firm, has entered into a partnership agreement with leading building technology advisor Future2.
The great majority of shopping centres should reopen on Thursday 3 December. The footfall and revenue figures show that customers have not given up on visiting shopping centres in the long-term perspective or changed their shopping habits dramatically.
Jiří Kristek becomes the Head of Industrial and Retail Warehousing at the real estate consultancy, Cushman & Wakefield.