In less than a year, the three largest office space lease transactions took place on the Warsaw office market. Less than a year ago, the mBank Group leased 45,600 sqm in the Mennica Legacy Tower complex, which at that time was a record nationwide. Just two months later another record transaction was announced: Orange Polska extended the lease agreement for 44,800 sqm office space in the Miasteczko Orange complex. Now the PZU Group has decided to move its headquarters to the new Generation Park Y office building, renting 47,000 sqm.
CBRE advised on two of the three largest transactions on the Polish real estate market. Cresa advised mBank.
In Warsaw alone, over 800,000 sqm of office space in over 30 projects are under implementation. By the end of the year, more than 400,000 sqm of office space is expected to be delivered to the market. Tenant activity in the first three months of 2020 was 139,000 sqm, which is the same as the same period last year.