The stock of modern office space in the Warsaw market stood at 5.017 million sqm at the end of Q3 of 2016, the Polish Office Research Forum (PORF) reported.
“In the period from January to September, around 378,800 sqm of modern office space in 17 office projects was delivered to the capital city’s market. The largest included: Warsaw Spire A (59,200 sqm), Gdańsk Business Center II C and D (49,000 sqm), and Q22 (46,400 sqm). In Q3 the only project completed was West Station I (28,700 sqm),” PORF stated in its press release.
At the end of September 2016, modern office space available for immediate lease amounted to 732,000 sqm, which constituted 14.6 percent of total stock (down 0.8 percent from Q2 and up 1.6 percent compared to the same period in 2015). The vacancy rate in central locations stood at 17.1 percent, while in non-central locations it reached 13.5 percent of modern office stock.