According to Cresa Poland, the office market in Poznań is heading towards achieving supply-demand balance. Within one year, office stock in Poznań increased by almost 11% and amounted to over 580,100 sqm by the end of March 2020. The average annual growth rate for this market in the years 2012–2020 was at the level of 11%.
According to the latest Cresa Poland report, the first quarter of this year recorded very positive results for the warehouse and industrial market. Total stock at the end of the quarter exceeded 19 million sqm – an increase of 16.2% as compared to the corresponding quarter of 2019.
Erste Real Estate, a subsidiary of Erste Bank Hungary, has signed an agreement to sell 57 hectares of a 170-hectare plot in Ecser, next to Budapest, to an international logistics company that intends to build a 100,000-square-meter high bay warehouse on the plot. VLK Cresa assisted the seller in this transaction.
According to a recent report published by Cresa, portfolio transactions are on the rise on the Polish retail market. Two of last year’s three largest commercial real estate transactions were retail portfolio deals: the €600 million acquisition of the shopping centre portfolio from Cromwell Polish Retail Fund by Cromwell Property Group and the disposal of Atrium Koszalin and Atrium Felicity to ECE Group for €298 million.
According to the latest “Occupier Economics” report prepared by Cresa Poland, gross take-up hit an all-time high in the Warsaw office market in 2019. Leasing volume came to almost 880,000 sqm, up by nearly 42,000 sqm on the previous peak year 2015. The market reported an approximately 7% increase in total office take-up in the four quarters of 2019 compared to the annual average for 2015-2019.
What’s next for the office market? What do occupiers want? What effect would an economic slowdown have on development? Heads of the European offices of real estate advisory firm Cresa talked about business opportunities and risks, and the global political uncertainty at their annual conference in Warsaw.
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