Cushman & Wakefield has been managing Astoria Premium Offices in Warsaw since the beginning of September 2019.

Changes in the Polish office sector happen not only from a quantitative aspect but in qualitative terms as well. There is a growing interest in multi-functional projects on the market. The share of flex space, which is an interesting option for large tenants, is also increasing. JLL summarised the situation on the Polish office market at the end of Q3 2019.

Many expect to double commitment to coworking in the next five years, according to a survey by Cushman & Wakefield and CoreNet Global. Cushman & Wakefield has released a report that reveals corporate perceptions of the value of flexible workspace and coworking strategies.

U.S. Green Building Council (USGBC) awarded United Business Center 5 (UBC 5), a Class A office building and part of the office component of Palas Iași mixed-use project, the LEED Gold certification in line with the LEED 2009 international standard for Existing Buildings: Operations and Maintenance.

The total value of 230 office, retail, warehouse and hotel projects, both ongoing and planned, which are conducted by top 30 property developers is estimated at nearly €10 billion, according to the latest report by research company Spectis.

Leasing volume on the Warsaw office market hit 688,500 sqm in the first three quarters of 2019, of which nearly 65% was transacted under expansions and new deals. Cushman & Wakefield presented an overview of the Warsaw office market after Q3 2019.

Adventum International, a Malta-based boutique investment fund manager, has acquired the 10,000 sqm office building Renaissance Plaza in the most dynamically growing area of the Polish capital from REInvest Asset Management, a Luxembourg-based asset and fund manager. The 7-storey, Class B+ office building is fully leased to Orange Polska S.A.

New office space for lease is being absorbed very quickly in Tricity. In the first half of 2019, the region’s net absorption of 16,300 sqm nearly matched new supply (17,400 sqm). Approximately 50,000 sqm of new office space is scheduled for delivery by the end of 2019.

Gross take-up in the third quarter of 2019 amounted to 85,200 sqm on the Prague office market, representing a 17% decrease on the previous quarter. The Prague Research Forum announced the office market figures for Q3 2019.

The third quarter on the Warsaw office market saw record-breaking demand and closed with an impressive 284,000 sqm. This means that nearly 690,000 sqm has been leased since the beginning of the year. At the same time, the vacancy rate is gradually decreasing with companies increasingly choosing pre-let contracts.JLL summarised the Warsaw office market at the end of Q3 2019.