Skyline von Wien an der Donau

European Property Market Brief 2017 – Vienna property market still on the rise

For the second year in a row, Gerald Eve, one of the UK’s leading real estate consultancies and an international alliance partner of Modesta Real Estate in Austria and Slovakia, has released the European Property Market Brief. This annual report deals comprehensively with the commercial property market in the most important European cities and gives insight into the latest developments as well as outlooks for the future. The trends in the Viennese office and logistics property markets have also been examined and the results are quite impressive. In 2016, occupational demand for office assets in Vienna remained continuously high. Optimism is also spreading for 2017 and an increased demand is expected, especially from foreign investors from the US, Asia and the UK. Not only office properties, but also Austrian logistics assets are progressively attracting investors, especially from Europe, and demand in this area is ever increasing. “This snapshot reveals that the Austrian commercial property market is currently in a good shape and is also well prepared for the future”, concludes Sebastian Scheufele, SIOR and Managing Partner at Modesta Real Estate.

You can find the entire report in English HERE.

Modesta Real Estate processes major lettings in Vienna’s office market

The previous ten months have been very successful for Modesta Real Estate. Andreas Polak-Evans, SIOR and Managing Partner at Modesta Real Estate, particularly points to the 3rd and 4th quarter as the high-selling months of 2016. The letting of the former Siemens property, located at Kempelenpark in district 10, can be seen as one of the highlights: In the first phase, Modesta Real Estate has let 3,000 sqm to the vocational training institute BFI and an additional 4,300 sqm will be relocated next year. As a result, the location has established itself as a training campus in this region. Furthermore, Modesta Real Estate was also able to let a new 7,400 sqm office location to ÖSB Holding GmbH, also known as Update Training GmbH. Several company locations will be merged into a single new company headquarters. In spring 2017, an approximately additional 3,000 sqm will be expanded into another former Siemens property. Another successful transaction was also the contract closure with Radar Service GmbH. Modesta Real Estate successfully let 2,000 sqm office space to this IT-company in Zieglergasse/Mariahilfer Straße.

Between July and December 2016, Modesta Real Estate has advised a total of more than 12,000 sqm office space with additional renting options for approximately 8,000 sqm in spring 2017. “This notable increase in demand for office space is due to the fact that many large scale companies increasingly merge their locations into a company headquarters to facilitate communication and to optimize space efficiency”, concludes Polak-Evans.

Successful sale of a 22,6 HA development site in Senec – Bratislava to Prologis

Prologis Park Bratislava expands to meet customer demand. The new building DC15 will be situated on a 22,6 HA plot of land that was acquired by Prologis in the second quarter of 2016. The land acquisition transaction was facilitated by Modesta Real Estate. 21,140 sqm are already under construction and the plot has a build-out potential of an additional 66,000 sqm. The new facility will meet the highest industry standard in sustainable solutions and technical specifications and, like all newly built Prologis facilities, will be submitted for BREEAM accreditation.

Prologis Park Bratislava currently comprises 13 facilities totalling more than 320.000 sqm of manufacturing and distribution space. The park is located 24 km east of Bratislava’s city centre, 2 km Senec and 16 km from the international airport in Bratislava.

prologis senec

Successful letting of 16,500 sqm warehouse space in P3 Park Bratislava

Modesta Real Estate advised PTG Slovakia s.r.o. on the lease of 16,500 sqm warehouse space in P3 Logistics Park Bratislava. The new warehouse for PTG Slovakia s.r.o. – an expanding automotive service provider company – will be developed by Point Park. The new tenant will move in upon completion of the property in February 2017. “We are delighted to be expanding our warehouse space in Lozorno and to welcome our new tenant PTG Slovakia s.r.o. to P3 Park Bratislava”, said the developer Ing. Peter Bahnik, Head of Leasing at P3 Slovakia.

The lease agreement was signed in April 2016. Ing. Peter Miščík, Partner at Modesta Real Estate Slovakia, supported PTG Slovakia s.r.o. with taking the lease of the property. Cristian Tofan, Business Development OEM/OES for PTG Slovakia s.r.o., said: “Modesta Real Estate was a strong partner during the contract negotiations and as a commercial real estate specialist they advised and informed us very well.”

The logistics market in Slovakia is expanding consistently. A growing economy, rising productivity and production output levels and developing infrastructure mean that major automobile manufacturers are deciding to locate their production sites in Slovakia. P3 Park Bratislava is located 20 km from the Volkswagen production site.

P3 Park Bratislava

P3 Park Bratislava


P3 Park Bratislava

P3 Park Bratislava

P3 Park Bratislava

Modesta Real Estate: Successful lease of 2.000 m² office space to RADAR SERVICES AUSTRIA GmbH

RadarServices is the European market leader for pro-active IT security monitoring and IT risk detection as managed services. Modesta Real Estate rented 2000 sqm of modern office space in Zieglergasse 6 to RadarServices. The central location near Mariahilfer Straße provides ideal infrastructure and excellent traffic connections.

Modesta Real Estate: Successful lease of 450 sqm high-end office space in 1st district to INET Logistics

In July 2016, Modesta Real Estate rented a modern state-of-the-art office space in an excellent location – Schottenring 12, 1010 Vienna – to INET Logistics. INET is a leading European Software-as-a-Service (SaaS) provider with a substantial know-how in the field of logistics. “The new office space of INET provides ideal traffic connections and is located at one of the best locations in Vienna”, says Andreas Polak-Evans, SIOR and Managing Partner of Modesta Real Estate.

Modesta Real Estate shows strong start to the new year with the sale of a 28.5 HA development site in Sered, Slovakia

The 28,5 HA development site purchased by Mountpark Logistics EU sarl could be developed as early as 2016. 125.000 sqm of state-of-the-art logistics space will be built in Phase 1. Mountpark Logistics EU’s confidence in the location means that it has also secured an option to buy an adjoining site of 20 HA, where a further 88.000 sqm of logistics space can be built out. These will be big boxes for tenants requiring more than 5.000 sqm of space. „The logistics and industrial site at Sered provides ideal transport connectivity and is located at one of Europe’s most important high volume production hubs,” says Sebastian Scheufele, SIOR and Managing Partner of Modesta Real Estate.

The logistics market in Slovakia is consistently increasing. The growing economy, rising productivity levels and continuously expanding infrastructure mean that major automobile manufacturers have decided to locate their production sites in Slovakia. Jaguar Land Rover is building its new factory in Nitra which is 33 km from the Sered site, Volkswagen’s major manufacturing site in Bratislava is 60 km distant and the PSA Group has a production facility in Trnava (16 km from Sered). Technology companies too chose Slovakia as a production location – including Samsung who manufactures in Galanta (15 km distant).

Contact: Sebastian Scheufele, SIOR


Mountpark Sered Layout

Mountpark Sered

Major letting to Bechtle GmbH in Europlaza

In October 2015, Modesta Real Estate let 1,400 sqm office space in Europlaza, unit D to Bechtle GmbH. Bechtle GmbH, which has its company headquarters in Neckarsulm, Germany, is one of the largest IT-companies across Europe and is already located in the South of Vienna. Particularly the perfect traffic connections, the infrastructure and the features of the office space in Europlaza were the key criteria for renting the new office spaces.

The Europlaza has an additional 23,000 sqm office space available for rent with immediate effect. “We are already in contract negotiations about 1,000 sqm office space in the Europlaza with another international client”, comments Andreas Polak-Evans, SIOR and Managing Partner at Modesta Real Estate.

Europlaza Wien

Successful sale of development site in Pilsen, Czech Republic to Mountpark Logistics EU

Modesta Real Estate sold a 17 HA development site in Pilsen, Czech Republic to Mountpark Logistics EU in June 2015. Mountpark Logistics EU, a Luxembourg domiciled joint venture between USAA Realco – Europe B.V., the dutch subsidiary of USAA real estate and Mountpark Finco, prospectively starts with the logistics development of the site in Pilsen in October 2015. In the first Phase, 45.000 sqm of logistics space will be built speculatively. As Mountpark Logistics EU  is highly convinced of the site’s perfect location at the highway D5 exit 100 (Prague- Pilsen-Germany), it has secured an option right to buy  adjoining sites. “The logistics and industrial site at Pilsen provides ideal traffic connections and is located at one of Europe’s most important hubs with the highest trading volume. Due to the excellent cooperation with Modesta Real Estate we realised the market launch in Czech Republic”, says Hans van Luijken, MRICS, CCIM, managing partner CE of Mountpark Logistics EU.

The logistics market in the Czech Republic is consistently increasing. Sebastian Scheufele, SIOR and Managing Partner of Modesta Real Estate: „Due to the proximity to Germany, the competitive wage level and the increasing education of qualified employees, Czech Republic evolved into one of the most attractive markets to investors within the CEE region.  In cooperation with Matthias Cruzin , who represented the owner, 17 HA of development site  in Pilsen were sold.“


Mountpark Pilsen Layout

mountpark pilsen

Strong start into 2015 with major lettings for Modesta Real Estate

At the beginning of the year, MSD relocated its office location within Vienna from Europlaza to the Ares Tower. In cooperation with Modesta Real Estate the 2,200 sqm office space has successfully been let. Furthermore, 1,700 sqm of modern office space in Brehmstraße, close to the new Central Train Station, has been let to Lebenshilfe Wien. DB Concepts, Thermo Fischer and FMT also moved into new office locations in Vienna in the first half of 2015. “We are happy to announce that the office market in Vienna is experiencing a slight recovery. Modesta Real Estate can record an increasing demand for modern office properties as well as broker agreements – particularly in the area around the new Central Train Station”, concludes Andreas Polak-Evans, SIOR and Managing Partner at Modesta Real Estate.

In the area around the new Central Train Station, Modesta Real Estate can record the highest volume of broker agreements. In Brehmstraße, 11,000 sqm are available for a net rent of € 7.90/sqm. In 7SENSES in Arsenalstraße, a combination of approximately 3,000 sqm office and warehouse space are offered for a net rent of € 10.00 – € 13.00/sqm. Moreover, as part of an exclusive assignment for the selling of the BOSCH property in Geiereckstraße, Modesta Real Estate is able to provide another 7,500 sqm office space as well as 7,000 sqm warehouse space.

Ares Tower

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