Gdańsk remains the largest “construction site” in Tri-City in H1 2013, according to Jones Lang LaSalle’s experts. Office sector developer activity remains high, with 71,200 sqm under construction within the agglomeration.
Tri-City is the fourth-largest office market in Poland, behind Warsaw, Kraków and Wrocław, with the total supply of office space in the region at 430,250 sqm. In H1, a total volume of 52,700 sqm of office space was delivered in Gdańsk, Gdynia and Sopot.
Olivia Business Centre in Gdańsk
In H1 2013, companies leased a total volume of 22,400 sqm of modern office space. New contracts, pre-lease agreements and relocations (net demand) accounted for 71 percent of the leased space. The main transactions in the analyzed period include Geoban (renewal and expansion, 2,800 sqm) in the Łużycka Office Park, Gdańskie Wydawnictwo Oświatowe (pre-lease of 2,500 sqm, Alchemia phase 1), Acxiom (renewal, 1,600 sqm, Garnizon.biz), First Data Global Services (renewal, 1,200 sqm, Arkońska Business Park) and LPP (extension, 1,200 sqm, Artus Park).
At the end of Q2, more than 56,000 sqm (13.1 percent) of Tri-City office space remained vacant. The vacancy rate is stable. At the end of Q2, headline rents remained stable at the level of €12-14. However, effective rents are lower because of incentives offered by landlords.
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