Despite the COVID-19 pandemic, the sentiment on the Polish office market appears to be optimistic. Total office stock currently amounts to just over 11.3 million sqm, with Warsaw the undisputed leader, followed by Kraków. During the first six months of the year, tenant activity reached approx. 667,800 sqm, with new contracts accounting for more than half of take-up. Despite limited new supply (275,700 sqm in H1 2020), the vacancy rate increased to 7.9% (+40 bps Q/Q) in Warsaw and 10.2% (+70 bps Q/Q) in regional markets as at the end of Q2. Axi Immo summed up the first half of 2020 on the Polish office market.

A company from Chariot platform, managed by Griffin Real Estate, a private equity investor operating in the real estate sector, signed an agreement with Auchan Poland to extend the lease of its six retail properties totalling 83,000 sqm. The lease agreement was signed for a period of over 12 years. The transaction is certainly one of the largest retail leases that has been closed in Poland.

Panattoni has signed its latest lease with Terg, the owner of the Media Expert consumer electronics chain. The tenant is to occupy more than 12,000 sqm at Panattoni Business Center Łódź III in the city’s Widzew district, which it will be taking up in September 2020. Colliers International advised the tenant for this transaction.

Element Industrial announced four new tenants for the recently delivered second phase of Eli Park 1. Euro Games Technology Romania, a company active in the production and distribution of a wide range of products in the gaming industry, Mobilier 1, online home & deco retailer, Decor Floor, a leader in commercial and residential floors and Dentotal, the market leader in the distribution of dentistry products rented over 10,000 sqm in Eli Park 1, the logistics park developed by Element Industrial in the Buftea Chitila area.

Dywidag Systems International has leased 24,000 sqm of production-social space in Panattoni Park Ruda Śląska II, site for the production of Post-Tensioning Systems and Stay Cable Systems. The tenant was represented by Cresa Poland.

ConvergenCE has been appointed the exclusive contract to support the owner, HB Reavis to lease the Agora Tower office building which recently opened on Budapest’s Váci Road office corridor.

Globalworth published a trading update summarising the key highlights of its operating performance during the first six months of the year, including some further updates as to the impact of the pandemic crisis on its operations.

Colliers International represented the Deichmann Group in the renegotiation of a lease agreement for 13,000 sqm of modern warehouse space in Prologis Park Wrocław III and in expanding by an additional 7,000 sqm. 

In the first half of 2020, Globalworth leased nearly 50,000 sqm of office space in its buildings in Poland. In the last 3 months, during very difficult time of the COVID-19 pandemic, the asset management & leasing department of the CEE office investor has signed contracts for a total area exceeding 28,000 sqm.

European Logistics Investment (ELI) together with its strategic partner Panattoni is to lease more warehouse space. At the facility Panattoni Park Ruda Śląska II almost 57,000 square meters will be delivered for use, of which nearly 45,000 square meters have been leased out to the tenants Dywidag and LATEX Opony Inc.