Both the development and take-up of industrial parks in Central Europe is continuing and slightly accelerating in comparison with last year, according to research from Cushman & Wakefield. The appetite for investing in commercial properties is also increasing, with a shortage on the supply side making buyers willing to pay more.
CHICAGO and NEW YORK, May 11, 2015 – Cushman & Wakefield and DTZ have reached a definitive agreement to merge and are set to become one of the largest global real estate services companies. The new company, which will operate under the Cushman & Wakefield brand, will have revenues over $5.5 billion, over 43,000 employees and will manage more than 4 billion square feet globally on behalf of institutional, corporate and private clients.
In Central Europe there is now almost 18 million sq m of modern industrial space for leasing, while ten years ago that figure was just 4.6 sq m. This volume is approaching the same levels as large Western European markets such as Germany, which currently has around 22 million sq m. These are the findings of Cushman & Wakefield’s Central European Industrial Team.
Cushman & Wakefield (C&W), leading global commercial real estate adviser, promoted István Fazekas Head of Industrial Department to Associate, with effect from April 2014. István’s recent appointment to Associate is an acknowledgement of his accomplishments in the Hungarian Industrial Team. He has been leading a team of 3 since 2012 and has largely contributed to C&W’s success in the past years to become market leaders in this field as well.
A total of 690,000 sq m of modern manufacturing, logistics and warehousing premises was developed in Central Europe in 2013 representing an investment of more than 330 million euros and creating around 3,700 new jobs in the region. These figures were released today by Cushman & Wakefield, the world’s largest privately-owned real estate adviser.
