GTC closed the year by achieving a high occupancy rate for its office buildings in Warsaw. Particularly important for GTC's results was a contract-laden end of the year. The company signed office leases from its Warsaw portfolio for nearly 20,000 sqm, 34 percent of all transactions were new tenants.

Demand for Warsaw offices remains at the level we saw during the market boom, despite the fact that many tenants are optimizing their floor space, says Walter Herz.

Develia S.A. signed a PSPA (preliminary sale agreement) with an entity from Adventum Group for Wola Retro, a prime office building located in Warsaw. The price agreed is ca. €69.8 million. Closing is expected by the end of April 2023.

Panattoni has purchased 4 ha of land and is soon to start construction on Panattoni Park Warsaw South III Piaseczno, where it will immediately develop the entire area of around 20,000 sqm. The development is being constructed near to the S7 expressway and the Janki junction, which joins the national road S7 and the S8 expressway. 

According to a report published by Newmark Polska, new office supply reached 237,000 sqm in 2022, bringing Warsaw’s total prime office stock to close to 6.27 million sqm at the end of the year. The gross office take-up hit 860,000 sqm.

PINK has published figures on the office market in Warsaw for Q4 2022. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.

Savills has advised AT Capital Group on the acquisition of the development plot at the junction of Grzybowska and Żelazna streets in Warsaw for the planned 140-metre-high Liberty Tower.

FLE SICAV FIS, managed by FLE GmbH, has acquired from DWS its fifth office property in Poland – the Kopernik Office Buildings in Warsaw. Knight Frank advised the buyer and Colliers represented the seller. The price remains confidential.

In late 2022, NREP made 116 fully furnished and equipped apartments available for rent at Kłobucka Street in Warsaw. It is NREP’s first completed residential investment in Poland. The first tenants moved in at the beginning of December, and the building is now nearly fully leased.

GLP has completed the development of another logistics park near Warsaw. The 24,000 sqm GLP Warsaw V Logistics Centre is located next to the Grodzisk Mazowiecki Junction of Motorway A2. The logistics company No Limit will be its sole tenant.