During the first three months of 2020, demand on the Warsaw office market was nearly 139,000 sqm, which almost matched the Q1 performance of last year. The vacancy rate fell by 0.3 pps, while 770,000 sqm is under construction. JLL summarised the Warsaw office market in Q1 2020.

COVID-19 restrictions which were introduced by the Polish government in March and extended until at least 19 April are affecting each sector of the economy. Cushman & Wakefield experts, including Katarzyna Lipka-Nawrocka, Jan Szulborski, Małgorzata Dziubińska, and Adrian Semaan, talk about how these restrictions are reshaping the retail, office and warehouse sectors.

Warehouse developer 7R is to build a specialized facility for Cefea – a company dedicated to the manufacturing, distribution and import of pharmaceutical products. The tenant will move into 7R City Flex Warsaw Airport I in July of this year.

The total value of investment transactions in the Polish real estate market for the first quarter was nearly €1.8 billion, which is the second-highest result on record for the first three months of the year. JLL analyses the investment transactions concluded in Q1 2020 in Poland’s commercial real estate sector.

The Polish Commercial Real Estate Chamber (PINK) is hereby publishing figures on the office market in Warsaw for Q1 2020. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers International, Cresa, Cushman&Wakefield, JLL, Knight Frank, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.

Hartwig Gdynia has leased 5,200 sqm of warehouse and office space in the Pomeranian Logistics Centre. The tenant was represented during negotiations by Cresa.

Singapore-based alternative asset manager Elite Partners Capital has announced the first close of its pure-play Elite Logistics Fund. Launched in January 2020, Elite Logistics Fund, which targets investment opportunities in the EU and UK logistics sectors, now holds more than 372,000 sqm of logistics assets in Poland and the UK.

Yareal has signed a contract to sell the Nowogrodzka Square office building to a French fund managed by Amundi Real Estate. The transaction includes a Class A office building covering an area of 11,000 square meters, as well as an underground garage with 148 parking spaces. Nowogrodzka Square was opened in the fall of 2018.

Penta Real Estate has sold the D48 office building in Warsaw’s Służewiec district to fellow Slovak company IAD Investments for an undisclosed sum.

Echo Investment is introducing a new service for potential home buyers, Aurelia – a virtual customer assistant.