| international news CHERRYWOOD
H
ines, the international real estate firm, has warmly welcomed the
decision by Dún Laoghaire-Rathdown County Council to approve plans for a new 2.1 million square foot town centre development at Cherrywood. The €1 billion mixed-use development will include 1,269 build-to-rent apartments, 585,000 sq.ft of retail and office space as well as high-amenity leisure space. This approval now paves the way for
the commencement later this year of the largest single urban development project in Ireland. Located between Cabinteely and Loughlinstown in South County Dublin, Cherrywood Town Centre will be constructed on an elevated site integrating the existing Luas stops of Cherrywood and Bride’s Glen. The new urban quarter will prioritise pedestrians and bike users and will incorporate open public spaces as well as an array of shops, bars and restaurants, and a 200-room hotel. It is expected that construction on the three-year project will commence in Q4 2018 and provide 3,000 construction jobs. Cherrywood Town Centre will in time provide housing for over 3,200 people, office accommodation for 2,300 and employment for an additional 2,500 retail and leisure workers.
lobal real estate development firm Harwood International recently announced a new lease in its Harwood District with Gardner Haas PLLC. The law firm signed 7,000 RSF at
G
Harwood No. 6 – Saint Ann Court. Hannah Waidmann and Kelly Whaley of Harwood International negotiated the lease with Travis Booth and Mike Wyatt of Cushman & Wakefield. “The Harwood District has developed a reputation for fostering growth,” said Whaley. “Similarly, with Michael Gardner and Eric Haas at the helm, Gardner Haas is one of Dallas’ fastest growing law firms. The partnership is a natural fit and we’re pleased with Gardner Haas’ decision to choose Harwood and look forward to their continued growth.” Gardner Haas PLLC is committed to providing clients with exceptional legal services in a wide array of complex litigation matters. We take the time to understand clients' businesses and the challenges they face in order to develop litigation strategies that meet their goals. We look for innovative ways to achieve the best legal outcomes for our clients in the most cost effective way, including the use of contingency and hybrid fee structures. Gardner Haas PLLC is part of the
GALLILEO OFFICE TOWER
riuva, a Patrizia company, announces the sale of the Gallileo office tower in Frankfurt, an investment which was executed as a club deal with South Korean institutional clients, to Capitaland, a Singapore-based real estate company. The sale price has not been disclosed.
T Manuel DeVigili, Head of Investment Management at TRIUVA,
said: “As investment and asset manager, TRIUVA was able to acquire this core investment on behalf of South Korean investors at an early stage in the market cycle. The sale is in line with the planned hold period and the investment as a whole has delivered outstanding performance for our clients.”
The Gallileo property is a 38-storey office tower situated in
Frankfurt’s central business district. The 34,000 sq.m of office space is solely let to Commerzbank while the building also offers retail and gastronomy options.
CENTRAL STOCKHOLM B
arings Real Estate, part of Barings LLC, one of the world’s largest diversified real estate investment managers, announces that it will acquire Härolden 44 in Stockholm, Sweden, also known as Fleming 7, as part of its pan European core investment strategy on behalf of institutional investors for over €100m.
The office property is located just a three minutes’ walk from
Stockholm Central Station and offers a total lettable area of approximately 10,000 sq.m. The fully let office property was built in 1965 and has been refurbished several times over the years, including a recent extension of the property with two additional office floors in 2017. The property has 12 tenants, including a parking garage, a restaurant, and a fitness center. The property holds a BREEAM certificate with a rating of Very Good.
12 G
he new Hotel Pacai is to be opened in Vilnius, Lithuania, creating a hospitality experience attuned to cultural authenticity and rooted in the charismatic city. Architect Saulius Mikstas strived to preserve as many authentic architectural details as possible, including the courtyard and arches, as well as the original frescoes found throughout the inside of the building. Unearthed wall paintings were restored fragment-by-fragment, and many layers of wall paint were removed to reveal the most interesting and well- preserved layers, mostly from the Baroque period when the palace belonged to the Pacai family. 94 rooms and 10 suites are each a study in spaces crafted uniquely around their own distinct set of features. From intricate wall detailing, like painted faux columns and rugged exposed brick, to original wooden beamed ceilings and frescoes.
T GIBBS HYBRID TARGETS GROWTH
ibbs Hybrid, a single source supplier of technology, outsourcing and talent management, is expanding to North America where they expect to reach $50m in revenue within two years. The company, which recently posted $102 million in European revenues, uniquely combines the elements of digital transformation, people, processes and technology. Last year, Gibbs Hybrid achieved a 29 per cent year-on-year increase in revenue, exceeding the Staffing Industry Analyst growth predictions for the industry. Gibbs Hybrid’s expansion into North America comes at a time
when US companies have a growing appetite to drive digital into the DNA of their business. According to the IFS Digital Change Survey, 61 percent of organizations in North America are pursuing digital transformation by upskilling existing talent; 46 percent are investing in digital resources, technologies and assets, and 39 percent are achieving digital transformation through external recruitment.
COMMERCIAL PROPERTY MONTHLY 2018
THE DISTRICT OF HARWOOD
exclusive list of Harwood tenants in Saint Ann Court, which includes Amegy Bank, Boston Consulting Group, McDermott Will & Emery, McGuire, Craddock Strother, Northern Trust Corporation, Unisys, and Viant Technology.
HOTEL PACAI OPENS
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