Many office developers expect to see a supply gap in Warsaw over the next few years and some are ready to take advantage of this opportunity. Jeroen van der Toolen, Managing Director – CEE at Ghelamco talked to Property Forum about the changes in the Polish office market, the incoming supply gap and the company`s interest in the PRS sector.

In one of the largest transactions on the Warsaw office market in recent months, HB Reavis has leased 18 floors (30,000 sqm) in the Forest skyscraper to Bank Pekao. The second-largest bank in Poland will become the main tenant of the building. 

Macquarie Asset Management, on behalf of its Macquarie European Logistics Real Estate Fund, has agreed to acquire for an undisclosed sum a logistics and warehousing facility currently under development near Warsaw. The seller is Logistic Property Investment, which is owned by the Żabka Group and managed by the Żabka Property Fund.

Specializing in ESG policy and operational cost optimization, Westbridge Advisory has opened its new headquarters in the capital city of Poland in April 2022. Danuta Grzywacz has been entrusted with the duties of director of the headquarters located at 1 Rondo ONZ. As Country Head for Poland, she will report directly to the Managing Director of Westbridge Advisory International AG, who is Hajo Engelke. From now on. the expertise of Westbridge is available locally to investors and asset managers operating in the Polish real estate market. 

Colliers has taken over the management of three warehouse complexes with a total area of almost 180,000 sqm: City Point Targówek, Logistics Point Piaseczno and Logistics Point Raszyn. Their Investment Manager is Peakside Capital. 

Yareal announced that it has signed a contract with a general contractor responsible for completing the final stages of its flagship office complex, LIXA. FineTech Construction will build two office buildings with a total area of 29,000 sqm near Daszyński Roundabout. So far, nearly 49,000 sqm of modern offices have already been developed here at LIXA, including the most recently commissioned building C, which will soon be ready to welcome its first tenants. 

MNK Partners has appointed real estate advisory firm Savills as property manager for its newly acquired office building NC3.

Office Warsaw faces major challenges: deteriorating macroeconomic indicators, rising construction and utility costs, and upward pressure on rents and service charges. In addition, there are delays resulting from broken supply chains, the spectre of a supply gap and a strong reshuffling in the demand structure. On the other hand, the capital city market reports a quarterly record in lease agreements signed and attracts an IT giant that buys one of the newest office-mixed use complexes; all this is according to the summary of the first quarter in the Warsaw office market prepared by BNP Paribas Real Estate Poland experts.

Atrium European Real Estate, the owner of the Wars Sawa Junior buildings and the operator of Pasaż Wiecha, has appointed award-winning architectural design and engineering firm Foster + Partners to look into this central location in Warsaw. The practice experienced in large scale urban regeneration projects is to conceptualize the possible directions of use of this emblematic scheme, that would facilitate upgrading it into a future-proof part of the multifunctional city center. The partnership demonstrates a 2030+ vision to responsibly realign public realm with the New Center of Warsaw municipal masterplan and form meaningful pedestrian connections with anticipated Museum of Modern Art and Plac Centralny, Chmielna street and tourist city walk toward Nowy Świat and Old Town.

Heimstaden subsidiary Heimstaden Bostad AB is buying the 400-apartment residential project Aurora in Warsaw from development company Dantex. The transaction is structured as a turnkey forward funded acquisition, where Heimstaden Bostad does not carry any direct development risk. Completion is scheduled for mid-2024.