ARTICLES LABELLED WITH TAG Warsaw

Panattoni takes on another development for ESA Logistika in the Radzymin area. One of the leading logistics operators in the CEE region is to take up 30,000 sqm from the beginning of 2023.

One of the largest office complexes in Warsaw’s Mokotów district, Marynarska Business Park, is currently undergoing extensive modernisation. The project is being carried out with particular attention to sustainability. The redevelopment will give a new appearance to the common areas of the office buildings and the outdoor area, where the 6,000 sqm concrete car park is being transformed into a publicly accessible green park. The planned completion date is Q2 2023.

After its August acquisition of the Renaissance Tower office building in Warsaw's Wola district, the company has increased its holdings in the business district of Służewiec. Another office building will be constructed on a plot of nearly 7,000 sqm, located at 10 Marynarska Street, in the immediate vicinity of the existing Adgar Plaza complex.

Panattoni has its first development for DTW Logistics – a rapidly developing company from the TSL sector. The tenant is to occupy over 25,000 sqm in Panattoni Park Warsaw West and is to start using the leased space from April 2023. 

Strabag Real Estate has announced the development of Upper One, an office and hotel complex at the junction of ul. Grzybowska and Jana Pawła II in Warsaw. It will replace the out-of-use Atrium International office building.

Magdalena Bartkiewicz-Podoba, CEO, Liebrecht & wooD Poland talked to Property Forum about their newest large-scale, mixed-use investment in Warsaw, revitalization-related challenges and creating a valuable urban fabric.

CEE-based flex office operator New Work continues to expand in its key markets. In Budapest, the company opened the second phase of its business centre in the Science Park office building in South Buda, adding 2,000 sqm of high-quality flex office space to the local market. In Warsaw, New Work opened a brand location, offering 1,135 sqm, in the Tulipan House office building in the city’s Służewiec district.

The third quarter of 2022 completes the dynamic new supply period observed in the Polish office market in recent years. Between January and September 2022, developers delivered 39 new investments, which increased the sector’s total stock by 560,100 sqm to over 12.7 million sqm. The period under review also registered intense activity on the demand side. At the end of Q3 2022, more than one million sqm was leased across Poland. However, the office market, like other sectors of the commercial real estate market, faces many challenges, including rising energy costs or the expected supply gap and rising rents. AXI IMMO presents data summarizing Q3 2022 in the Polish office market.

Q3 2022 in the Warsaw office market saw record-low developer activity. At the end of September, only 160,000 sqm of space was under construction. As a result, new supply is expected to drop significantly in 2023, with only 60,000 sqm of office space coming to the market, JLL reports.

According to Savills, development activity has cooled dramatically in the Warsaw office market. There is currently close to 230,000 sqm under construction, of which just over 115,000 sqm is scheduled for completion in 2023–2024.