Ghelamco Poland has started the construction of its first office project in the city of Kraków. The building, called .big, will be located at the junction of Generała Bohdana Zielińskiego and Kapelanka streets. The project will offer 10,000 sqm of office and 1,500 sqm of commercial space. Completion is scheduled for mid-2017. Cushman & Wakefield is the leasing agent for .big.

Poland’s warehouse supply hit a record high at the end of Q3 2017. The industrial stock totalled 12.86 million sqm, which represented an 18% rise year-on-year. Tenant demand remained robust on the country’s core warehouse markets, driven largely by logistics operators whose share in total take-up amounted to 45%. The vacancy rate slipped down by 0.8 percentage points year-on-year while headline and effective rents remained largely unchanged, reveals Cushman & Wakefield.

The growth of the start-up culture and the high-tech sector, leading to an ever larger number of projects that require swift staff reorganisations, has sparked a boom on the Polish market of co-working space and serviced offices, as revealed by real estate advisory firm Savills in its latest report Flexible Workplaces in Poland.

The Property Management department at BNP Paribas Real Estate Poland ran the rebranding process for the shopping centres that have recently changed hands from Ikea Centres Polska to the Pradera fund. The new name and corporate design can now be seen in Polish and German locations.

Cresa, a tenant-only commercial real estate firm, has opened its second Polish office in the city of Wrocław. The new office is headed by Michał Grabikowski, who is also the Head of Tenant Representation, Office Department of Cresa Poland in Wrocław.

From Q1 to Q3 2017 companies in Poland signed lease agreements for over 1 million sqm of modern office space while nearly 548,000 sqm was delivered to market. Furthermore, 1.8 million sqm of is under construction. JLL summarised the situation on the Polish office market at the end of Q3 2017.

Goodman has begun construction of a modern warehouse of over 32,000 sqm for BMW Group in Świecko, Poland. The facility will be a logistics centre for replacement parts to serve the Polish and East German market. It will be Goodman’s first development for BMW Group in Poland, and its fourth project for the automotive giant in Continental Europe.

Investment flows into the CEE-6 region’s commercial real estate markets rose 12% y-o-y in the first nine months of 2017. The €7.6 billion closed deal total coupled with a still full pipeline of deals under consideration suggests that the annual cycle high of €12.2 billion invested last year is likely to be matched or overhauled. Substantial growth in Czech and Bulgarian volumes were the drivers of the momentum in the January-September 2017 period, says Colliers International in its latest report.

The construction of building H, the eighth element of Bonarka for Business (B4B), an office complex in Krakow, has recently started. At completion, the office building will provide approx. 10,000 sqm GLA and 209 parking spaces for the tenants, extending the B4B complex to a total of 75,000 GLA. Meanwhile, GlobalLogic, an existing tenant in B4B since 2016, signed a lease agreement for an additional 1,274 sqm GLA.

The office markets of Central European capitals are growing dynamically with the number of new leases on the rise and vacancy rates hitting record lows in several cities. In light of all this it is no surprise that development activity is also heating up on the most popular markets of the region.