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.

At the end of Q2 2020, total modern office stock in the eight regional Polish cities amounted to 5.6 million sqm. The largest regional office markets are Kraków (1,483,300 sqm), Wrocław (1,186,100 sqm) and the Tri-City (868,400 sqm).

According to the latest report prepared by Cresa Poland, leasing activity reached nearly 52,600 sqm on the Kraków office market in the second quarter of 2020. Renegotiations accounted for 76% of the leasing volume, while new leases and expansions made up 15% and 9% of all deals, respectively.

Panattoni and Marvipol have sold two city logistics parks in Warsaw to LaSalle Investment Management. The facilities, totalling nearly 25,000 sqm, were sold for approx. €30 million.

In terms of tenant activity, the major regional markets can speak of a better H1 than a year ago. Despite the expected slowdown, some companies continue to expand their business. JLL summarised the situation on the Polish office market at the end of H1 2020.

M7 Real Estate has undertaken its first acquisition on behalf of M7 CEREF II, its value-add opportunities fund focused on offices and logistics/industrial properties in key Central European markets, including Poland, Hungary, Croatia and Czech Republic. The investors purchased the 12,672 sqm Atrium office building in Katowice.

JLL and LaSalle have published the latest edition of the Global Real Estate Transparency Index – GRETI. As emphasized by the authors of the report, although there is a greater emphasis on corporate social responsibility and the use of new technologies, we are currently facing the slowest rate of transparency improvement since the period directly following the Global Financial Crisis.

The H1 data indicate that the worst-case scenarios regarding the effects of the COVID-19 pandemic on the Warsaw office market did not materialize. According to a report published by Cresa Poland, the second quarter witnessed a substantial volume of new supply which has now been almost fully absorbed by the market. A total of 100,000 sqm was delivered in Warsaw with an additional 700,000 sqm currently under construction.

Echo Investment has gained a loan for the construction of the MidPoint71 office building, that is being built in Wrocław on Powstańców Śląskich street. PKO Bank Polski provided the financing of the project. In accordance with the signed loan agreement, the bank granted Echo Investment €54.4 million in a construction loan, as well as a PLN 7 million VAT loan. Once the construction is finished, the construction loan will be converted to an investment loan. The total funding period ends on 30 June 2026.

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.