13:45 5 September 2019
More activity expected in Szczecin office market
The city of Szczecin in north-western Poland, which is one of the smallest of the major regional office markets in the country and currently has over 161,000 sqm of office space, should see its supply and demand volumes go up in the near future, according to Cushman & Wakefield experts. Less than 3,500 sqm of new area in two projects (Fabryka II and Szczecin Business Plaza III) was completed there in the first half of this year, but the H2 supply is expected to reach 27,300 sqm. Most of that space (19,800 sqm) will be delivered within the Posejdon scheme. Next year, J.W. Construction is to finish work on its Hanza Tower high-rise development in Szczecin. In H1 2019, 4,900 sqm of office space was leased in the city, a 26% increase y/y. Cushman & Wakefield experts argue that the market has much investment potential, which is reflected by, among other things, its growing BPO sector. “We expect that demand and developers’ activity in the Szczecin market will grow,” said Daria Zagożdżon-Dembicka, a negotiator in the company’s office department.
(Warsaw Business Journal)
