ARTICLES LABELLED WITH TAG Warsaw

In the first half of 2020, Globalworth leased nearly 50,000 sqm of office space in its buildings in Poland. In the last 3 months, during very difficult time of the COVID-19 pandemic, the asset management & leasing department of the CEE office investor has signed contracts for a total area exceeding 28,000 sqm.

What will the Warsaw office market look like in the next 18 months? Experts of Savills have outlined two potential scenarios. Both scenarios foresee a short-term decrease in demand and rising vacancy rates, but with a different scale of impact of the COVID-19 pandemic on the Polish capital’s office market. Both also forecast that the market will remain resilient in the long term.

Pandemic-related economic and social restrictions have given rise to multiple questions on the office market. Will the demand for office space remain unabated? Will office projects underway be delivered on time? Cresa has reviewed pre-let levels and the progress of office projects currently under construction in Warsaw.

Arrow Capital Partners, an investor and operator of real estate in Europe and Asia-Pacific, has acquired the prime urban logistics asset, Airport House, in Warsaw, for its $3 billion European Strategic Industrial Real Estate (SIRE) platform. The asset has been sold by M7 Real Estate, on behalf of PVBRI, a work-out investment vehicle created by M7 and a Polish Bank to stabilise and turnaround a financially challenged portfolio of industrial, office and retail investments.

The PZU Group has leased 47,000 sqm of office, retail, service and warehouse space, as well as 325 parking spaces in Generation Park Y – Skanska’s highest office building in CEE located in Warsaw. With this lease, the building is now 98.5 percent occupied. The PZU Group will move its headquarters to the new office in Q2 2022. This is the largest lease agreement in the history of the office market in Poland and the history of the Skanska Group in the world.

Panattoni has completed the development of the largest warehouse facility in the Warsaw region – A2 Warsaw Park. The building, totalling close to 104,000 sqm, was delivered in Adamów, right next to the Grodzisk Mazowiecki junction on the A2 motorway. Nearly half of the space provided by the developer has been taken up.

Savills Investment Management has signed a new lease agreement involving Gate One Business Park in Warsaw. An international company dealing with data centre services has leased 21,000 sqm of the modern space at the Gate Two building. The term of the agreement is 15 years.

Aurec Capital Poland has acquired three residential buildings in Warsaw’s Praga Północ district with the intention of redeveloping them. 150 rental apartments and retail units will be built under the LivUp PRS brand. The redevelopment project is planned to be completed in early 2022.

DSV, a global supplier of transport and logistics services, has closed the sell-and-lease-back transaction with French investor, Corum Asset Management, for the new DSV International Shared Service Centre in Warsaw’s Mokotow Business District. The total leasable area (GLA) of the project is 20,000 sqm. Cushman & Wakefield advised the seller.

Tenants are to move into the EQ2 office building, developed by Waryński Group, in Q1 2021. The office building has already reached its target heigh, and the completion of construction work has been celebrated with a symbolic topping off ceremony. Walter Herz is responsible for the commercialization of the project