ARTICLES LABELLED WITH TAG Poland

Talent availability is the primary factor when choosing a new location, according to a survey that Cushman & Wakefield in conjunction with CoreNet Global conducted every year since 2016. C&W surveyed global corporate real estate executives across a variety of industry sectors focusing on their key office location strategies and decision drivers worldwide.

According to Cresa, Warsaw’s total office stock has risen by more than 3.75% over the year to 5.42 million sqm and the absorption rate is down by 1.4% compared with Q3 2017. The vacancy rate is at 10%.

A fleeting trend or a well-thought-out strategy? Cushman & Wakefield presented a report on the use of commercial buildings’ rooftops.

In the third quarter of 2018, the Polish warehouse market was bolstered by 683,400 sqm of new supply. At the end of September, storage space in Poland exceeded 15 million sqm, which means that in the last 5 years the total surface volume has doubled. Almost 2 million sqm remains under construction, of which more than 25% in Central Poland.

Ghelamco presented Warsaw Unit, its latest Warsaw project, previously known as Spinnaker. The 180-metre skyscraper is scheduled to be completed in early 2021. The project’s budget is nearly €200 million.

Prologis has started development of a new 16,700 square meter facility at its fully occupied Prologis Park Wrocław V. The company has already signed the first pre-lease agreement for 6,000 square meters in the new building with a logistics operator in the aviation industry.

Poland's industrial sector remains in great shape. Up to 2.8 million sqm of space was leased and 1.3 million sqm delivered to market from the beginning of January to the end of September 2018. Nearly 2.1 million sqm of industrial space remains under construction, according to JLL.

Adgar Poland has concluded an agreement for the acquisition of the asset at Czackiego 15/17 in Warsaw. Thus, the portfolio of the company in Poland was increased to 12 assets. The value of the transaction amounted to €8.3 million (PLN 36 million).

According to Cresa’s latest report, the vacancy rate on Poland warehouse market is at a record low of 4.3% at the end Q3 2018 (down by 0.9 pp compared to September 2017). With new supply continually on the rise, Poland’s warehouse and industrial stock has already surpassed the 15 million sqm mark.

In their early days, start-ups require a flexible working environment and usually opt for co-working space, which, however, is relatively costly in the long term. That’s why it’s important that they do not overstay there and move forward at the right time, says Artur Sutor, Partner and Head of Office Department at Cresa Poland.