The absorption of office space in the Tri-city market hit the record high of 79,400 sqm last year, compared to the annual average of over 58,000 sqm seen in the last five years, according to the latest report by Cresa. A total of 117,700 sqm was taken up in the market in 2017, which represents an almost 26-percent increase y/y.
“The record performance of the Tri-city’s ports and major port and transport improvements have had a positive impact on the region’s office market. The Tri-city’s office market is attracting a growing interest from businesses intent on taking advantage of the recent upturn in shipbuilding and logistics,” said Michał Rafałowicz, the regional director at Cresa Poland.
Bolesław Kołodziejczyk, head of research and advisory at Cresa Poland, added that given the supply forecasts for 2018 and the anticipated healthy occupier activity, rents are expected to remain flat at €13-14.5/sqm/month in A-class office buildings and at €10-11.5/sqm/month in B-class buildings.