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Occupier demand for office space in Warsaw remained robust, with 878,000 sqm transacted in 2019, up by 2% on the peak year 2018. Cushman & Wakefield presented a summary of 2019 on the Warsaw office market.

At the end of 2019, Poland’s total industrial stock topped 18.6 million sqm, with warehouse supply hitting a record high of 2.72 million sqm in the past 12 months. Compared to the previous year, warehouse space availability improved significantly on most of the nation’s regional markets. Cushman & Wakefield presents a summary of the Polish industrial market.

CPI Property Group announced the acquisition of the Green Corner A office building in Warsaw.  The property was acquired from DWS Group, one of the world's largest asset managers and a significant investor in commercial real estate in the CEE region.

The Neopark office complex, one of the flagship investments of Yareal Polska, is now fully leased, with companies such as Play, Inpost, New Work, Olympus and Mitsubishi opening their offices in the buildings’ 24,000 sqm of space. Experts from JLL were responsible for the commercialization of the project.

Cushman & Wakefield consolidate its Warsaw headquarters at The Warsaw HUB in the city’s new business centre. The global commercial real estate services company will occupy nearly 2,500 sqm of office space in the skyscraper.

Demand on the Warsaw office market reached 880,000 sqm with 225,000 sqm in the form of pre-lets. JLL summarised the situation on the Polish office market at the end of 2019.

KGAL, an independent investment and asset manager, has bought a second office building in Warsaw. The acquisition of the Prosta Office Centre (POC) from Cromwell Property Group follows the 2018 purchase of the Spark office complex. Both assets were acquired for a Europe-wide special real estate AIF.

Savills has been appointed as sole adviser to M7 Real Estate for the fund’s entire office portfolio. Savills will be responsible for office space leasing and property management. The portfolio comprises a total of approximately 73,500 sqm across seven buildings located in four cities: Warsaw, Krakow, Wroclaw and Katowice.

First Property Group has entered into a contract for the sale of one of its properties, a 50.3% interest in Chałubińskiego 8 (CH8), an office tower in Warsaw, Poland, at a price of €44 million. Completion of the contract is deferred until the treatment of VAT relating to the sale has been approved by the Polish tax authorities, which is expected by 31 March 2020. The name of the buyer has not been disclosed.

According to JLL data, office take-up in Warsaw grew by 270,000 sqm year-on-year in Q3 2019. At the same time, 185,000 sqm of space was delivered to the market during recent months. This means that the need for additional space exceeded new supply by as much as 85,000 sqm. This impressive performance has further fueled developer activity. 790,000 sqm of space is under construction, with a significant proportion of this total already being leased.