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More deals take place in the Polish office market

Cushman & Wakefield has summarized the third quarter of 2023 on the Polish office market. Office development activity continues to slow down both in Warsaw and in Poland’s regional city markets. Nominal leasing activity remains high in the largest regional cities, with Warsaw reporting a record number of leases.

Deutsche Pfandbriefbank provides €75 million loan for CEDET office building

pbb Deutsche Pfandbriefbank has provided a €75 million investment loan facility to a Polish company managed by Macquarie Asset Management on behalf of institutional investors.

Avenga chooses Infinity

Avenga, a global provider of IT and software engineering solutions, has been welcomed as a new tenant of the Infinity office building. Its new office will occupy over 700 sqm of modern space located on the 6th floor. The company will move to Infinity in Q2 2024.

Office tenants choose the centre of Warsaw

From January to the end of September 2023, the total demand for modern office space in Warsaw amounted to nearly 0.5 million sqm. Tenants often choose two contract options, i.e., they relocate to a new space or decide to renegotiate existing terms. The vacancy rate is decreasing, standing at 10.6% at the end of September 2023. On the supply side, developers delivered just over 20,000 sqm to the capital's office market in January-September 2023, indicating a supply gap period in Warsaw. Nevertheless, more than 240,000 sqm is under construction, most of which will be completed by the end of 2025, says Axi Immo.

Astrazeneca is a new tenant at Equal Business Park

Apollo-Rida, the owner and property manager of the Equal Business Park in Krakow, has signed a lease for nearly 1,000 sqm of office space with global biopharmaceutical company AstraZeneca Pharma Poland. The landlord was advised during the transaction process by real estate advisory firm Savills, the sole leasing agent for office space in the complex.

Office development activity in Warsaw slows down sharply

Cushman & Wakefield has released a summary of office market conditions in Warsaw. This year’s development activity is expected to fall to its lowest in nearly 25 years amid a record number of leases, falling vacancy rates and the continued upward pressure on rental growth. Supply: office development activity is at an all-time low

Office building in Warsaw sold for PRS redevelopment

Octava sold Obrzeżna Center office building in Warsaw to the Polish investor. The price has not been disclosed. Avison Young and Savills jointly represented the seller.

Echo Investment starts construction of Swobodna SPOT in Wrocław

Swobodna SPOT is a new project by Echo Investment at 60 Swobodna Street in Wrocław. There will be a total of 41,600 sqm of leasable space in the project located in the city's business centre. Two office buildings and a green urban walkway connecting them were designed by architects from Kuryłowicz & Associates.

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