Tenant activity on Polish office market hits 668,000 sqm in H1

by   CIJ News iDesk II
2020-07-30   09:46

In the first half of 2020, tenant activity on the Polish office market was 668,000 sqm, with markets outside of Warsaw accounting for 330,000 sqm, according to JLL. This is a better result than a year ago, despite the fact that demand on regional markets in the second quarter was 50 percent lower than the previous quarter. “Demand for office space in the first half of the year increased by almost 10 percent y-o-y. This increase can be partly put down to the Krakow market which accounted for one third of tenant activity outside Warsaw,” said Karol Patynowski, director of regional markets at JLL. Krakow saw the largest lease agreement for a regional market in H1 with ABB’s renewal on 20,000 sqm at Axis. In terms of scale, however, Warsaw remained dominant, with the largest transaction in the history of the Polish office market – a pre-lease by PZU at Generation Park Y (46,500 sqm). Furthermore, DSV signed a sale-and-leaseback agreement on 20,000 sqm in Warsaw's Mokotow district, and Poczta Polska renewed its lease and decided to expand at the Domaniewska Office Hub (19,800 sqm).