Knauf Industries Polska, the world’s leading polystyrene processor, has renegotiated its lease agreement and increased its warehouse and office space in Panattoni Park Wrocław II to 18,000 sqm. The tenant was represented during the negotiation process by real estate advisory firm Cresa.

According to “Occupier Insight – Industrial and Warehouse Market Q1 2021”, a report prepared by Cresa, gross industrial and warehouse take-up climbed to 1.6 million sqm in the first quarter of this year, representing an increase of 51% compared to the first three months of last year. This result accounts for 46% of the annual average for the last five years and marks a record quarter in terms of leasing activity.

Some companies are choosing to relocate production plants from Asia to Poland to diversify business activity and shorten supply chains. On the other hand, western firms are setting up factories in Poland to bring operating costs down and take advantage of a range of benefits with which individual regions want to attract investors, say experts from Cresa Poland.

The Kellogg Company, a producer of ready-to-eat cereals and snacks, has renegotiated its existing lease agreement and expanded its warehouse footprint in Kutno to 28,000 sqm. The tenant was represented by Cresa. The developer of the facility is Panattoni, which specializes in BTS projects.

According to a report published by Cresa Poland, the vacancy rate on Poznań’s office market stood at 13.3% at the end of Q3 2020, down by 1.2 pp on the second quarter. It is the only office market in Poland to have recorded a quarterly fall in vacancies.

A Hungarian real estate fund, advised by VLK Cresa, has acquired the Target Center retail park in Kecskemét, Southern Hungary. The name of the seller and buyer or the purchase price has not been disclosed.

Due to the prolonged COVID-19 epidemic, some tenants on the Warsaw office market are postponing relocations, looking for sublessees or downsizing their offices. According to the Cresa Polska report "Occupier Economics: Office market in Warsaw in the third quarter of 2020", office take-up amounted to 113,000 sqm in Q3 2020, which is the weakest quarterly result in the last 10 years. Warsaw’s office stock reached 5.8 million sqm.

Polish shopping platform Allegro has leased nearly 16,200 sqm at the Norblin Factory in Warsaw. The tenant was represented during its negotiations with the Capital Park Group by global real estate advisory firm Cresa.

According to the latest report by Cresa, commercial real estate investment volume in Poland surpassed €2.85 billion, the second-best result in the country’s history. The key growth drivers were the office and industrial markets which together generated just more than 84% of the investment volume. The industrial market attracted nearly €1.08 billion worth of investments, which represented an all-time high, while the office market saw nearly €1.33 billion worth of deals, the second-best result of the segment in the history.

According to a new report published by Cresa Poland, the Tricity office market is likely to become a tenant’s market soon due to the changing market environment. Tricity is still attractive for the BPO/SSC/GBS sector. Additionally, investments in its seaport and transport infrastructure are a magnet for sea freight operators.