16:00 19 March 2019
Szczecin office market to see more growth in 2019 – C&W
Just one office project – Black Pearl, offering 2,350 sqm – was completed in Szczecin in 2018, but the city’s office stock will see much more growth this year with a total of approximately 46,000 sqm scheduled to be delivered in the period, according to the latest report by Cushman & Wakefield. The new space is much anticipated by potential tenants – in the last two years, the net absorption level in the city was almost four times higher than the level of new supply, which brought the vacancy rate down to 5.1 percent at the end of 2018, the study said. Szczecin currently has nearly 160,000 sqm of modern class-A office space and is one of the smallest regional markets in Poland. However, due to its improving roads infrastructure and proximity to the German and Scandinavian markets, the city has been gaining in popularity as an office location.
(Warsaw Business Journal)
