In Q3 2018, Poland’s eight largest regional cities (Krakow, Wrocław, Tricity, Katowice, Poznań, Łódź, Szczecin and Lublin) saw more than 176,000 sqm of office space delivered across 21 new projects, taking the total space available on those markets to 4.81 million sqm. Cushman & Wakefield presented a summary of Polish regional office markets.

A milestone has been reached on the way to the completion of Building H, the 8th element of Bonarka for Business (B4B) office complexes in Krakow. The construction reached its highest point on the 16th of October, according to the construction schedule. TriGranit is preparing the further phases of the development, Building I and J with 10,000 sqm GLA each.

Positive sentiment amongst tenants, developers and investors are reflected in the spectacular demand for office space and reduced vacancy rates in Warsaw. The growing presence of co-working companies is another sign of an expanding market. JLL summarised the situation on the Warsaw office market at the end of Q3 2018.

pbb Deutsche Pfandbriefbank provided a credit facility of €27 million to companies managed by GLL Real Estate Partners on behalf of a German institutional investor. The loan is used for the refinancing of Griffin House and Liberty Corner, two prime office buildings in Warsaw. pbb acted as arranger and sole lender under the facility.

Forte Partners plans to invest €25 million in the development of a new office building in the centre of Bucharest. The property will offer 8,400 sqm of leasable space.

Praga Studios, the new Karlín office building by Skanska, has progressed significantly on its way to completion. In October 2018, the builders placed a topping out flag on the site of the future roof terrace to symbolise the completion of the superstructure. The building, with a total area of almost 12 000 sqm, will be completed in Q2 2019.

In the first three quarters of 2018, the total investment volume on the Warsaw office market hit €1.14 billion, which represented a threefold increase on the same period in 2017. Cushman & Wakefield presented a summary of Q3 2018 on the Warsaw office market.

CBRE advised coworking operator Spaces on leasing 4,100 sqm of office space in Expo Business Park, located in the Expoziției area of Bucharest. The leasing contract exceeds the market average length of five years.

Despite over 110,000 sqm of new supply coming to the market in Q3 2018, the office vacancy rate decreased to 6.4%, the lowest rate ever recorded in. The Budapest Research Forum published its latest figures.

Cushman & Wakefield has been appointed property manager of Sagittarius Business House, an office building in Wrocław. The owner of the facility is Warburg-HIH Invest Real Estate.