The Budapest Research Forum (BRF, which comprises: CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary) sets out below its Q1 2017 industrial market snapshot.
Jones Lang LaSalle Incorporated (NYSE: JLL) announced that it is separating the roles of President and Chief Executive Officer and that Christian Ulbrich, currently CEO for the EMEA region, will become President of JLL. Colin Dyer will retain the role of CEO and continue to guide the firm’s global strategy, with a particular emphasis on IT and data strategies, and oversee LaSalle Investment Management as well as the firm’s finance, human resources, legal and marketing functions. Additionally, Guy Grainger, currently UK Chief Executive, will succeed Ulbrich as EMEA CEO, and Chris Ireland will become UK Chief Executive. All changes are effective June 1, 2016.
JLL represented the landlord in the leasing of 9,380 sq m to Gimek Zrt. in Rozália Park. With this transaction the logistics park is nearly fully let, only a few units are available in the gallery level.
The Hungarian commercial real estate market reached the highest volume since the peak of the market in 2007 with ca. €790 million transacted in 2015. Almost 60% of the annual volume was generated by portfolio transactions, which clearly reflects the increasing interest of investors for large platforms in an attempt to gain significant exposure to the market.
Viktória Park Logistics Park - located in Üllő, in the South-East agglomeration of Budapest - has found new tenant with the cooperation of JLL. The new tenant, Orbico Hungary Ltd signed a lease agreement for 6000 sq m space including industrial and social areas. The tenant may expand in the future within the park.
