Nordea, Infosys, Fujitsu and Harman opened offices in Łódź a long time ago. Other firms are now following in their footsteps. Commerz Systems recently announced its entry into the Łódź market, says Marta Pyziak, Head of the Łódź Office of Cresa Poland.
The rapid growth of e-commerce is changing the way warehouses are being built. In many BTS buildings, automated or semi-automated racking systems and robots are deployed for product storage and picking, says Krzysztof Czekalski, Technical Director in the Industrial & Warehouse Department at Cresa.
The Polish government’s bill on supporting new investments will introduce new regulations on state aid and operation of Special Economic Zones (SEZs). It is estimated that the proposed amendments will attract more than PLN 2.5 billion worth of investments in the first year of the new regulations being in force and result in 200,000 new jobs created within ten years. Michał Rafałowicz, Head of the Pomeranian Region at Cresa Poland analysed the impact of the new SEZ act.
According to “Occupier Economics: Office Market in Łódź in 2017”, the latest report produced by Cresa, last year’s absorption rate for office buildings in Łódź hit a record high of 55,500 sqm. With office stock at 437,770 sqm, Łódź is Poland’s sixth largest regional office market. The city’s vacancy rate currently stands at 9.3% (up by 3.1 p.p. year-on-year).
In 2017, Tricity’s office space absorption hit a record high of 79,400 sqm, compared to the five-year average of more than 58,000 sqm. Leasing conditions in the region hold stable, says tenant-only real estate advisory firm Cresa.
According to “Occupier Economics: Office Market in Wrocław in 2017”, a report prepared by Cresa, last year’s office supply in Wrocław was the lowest in six years while occupier demand remained robust. The city’s office take-up hit 174,500 sqm, which represented a 40% increase compared with 2016.
Business services companies remain core office tenants in Wrocław, setting new market trends and trying to attract top talent. Michał Grabikowski, Head of the Wrocław Office of Cresa Poland summarised the key strengths of Lower Silesia’s capital city.
Recent changes in Sunday trading laws and commercial property tax regulations have not discouraged investors, both the existing well-established players as well as new entrants to the market. Similarly to the previous year, the portfolio transactions in 2018 are expected to account for a significant share in the total investment volume. Jędrzej Suchowolec, Senior Advisor at Cresa Poland, commented on current investors’ interest in retail properties.
Developer activity remains strong despite high retail space saturation in many Polish cities. Magdalena Sadal, Head of Retail Research & Advisory at Cresa Poland, talks about retail space saturation and the purchasing potential in Poland’s largest agglomerations.
Class A office buildings in the downtown areas of Gdańsk and Gdynia will finally become available for lease, complementing office provision on the outskirts of the Tricity agglomeration. Tenants are likely to move to new headquarters in more prestigious locations, says Michał Rafałowicz, Head for the Pomeranian Region at advisory firm Cresa Poland.
Business Garden Wrocław has signed up a new tenant: Travelplanet.pl., who just leased close to 730 sqm of office space. The ISOC Group, the owner of the three buildings developed as part of the first phase of the office complex, was advised on the lease transaction by Savills.
Cushman & Wakefield Echinox has appointed Cristi Moga as Head of Capital Markets. Moga has been working in the research department of the real estate consultancy since 2015.
Property developer Prime Kapital has extended its office lease in Globalworth Tower, Bucharest, for another five years. The company will occupy 3,066 sqm, which is more than double compared to the previous lease deal.
Joanna Lewandowska joined 7R as Head of Construction and Design. She will manage a team of professionals involved in the design and architecture of warehouse and industrial buildings and will also supervise the work of project managers responsible for the execution of 7R investments both in Poland and internationally.
Katarzyna Chwalbińska-Kusek has joined Savills as Associate Director and ESG & Sustainability Lead in Poland. She has been actively promoting sustainable construction principles for 15 years.
Cushman & Wakefield Czech Republic has promoted Lukáš Netolický from the Office team to Partner. Lukáš is Head of Regional Cities CZ at Cushman & Wakefield, leading the firm’s Brno office. His main focus is on the development of its business activities, especially in the office segment.
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