Eolus Poland, a renewable energy developer from Sweden, will become one of the tenants of the LIFE Building. It will soon occupy nearly 300 sqm of the office building in Warsaw’s Wola district. JLL Polska, representing VIG Fund, is responsible for the full commercialisation of LIFE Building, while Find Office represented Eolus Poland in the negotiation process.
Bonarka for Business “B4B” has completed 6 leasing transactions in 5 buildings during the final quarter of 2023. These transactions encompass a total GLA of approximately 8,500 square meters and include new leases, renewals and one expansion. Notably, B4B has attracted two new tenants, namely Apollo Investment and Enetecs, who will conduct their operations in Building D and Building F, respectively, while Remi/Holding 1 has signed a new office lease in Building A.
Eolus Poland will join the tenants of Life Building in Warsaw's Wola district. The Swedish-based renewable energy developer will occupy nearly 300 sqm in the office building in April.
Demand for offices in Poland remains high, but there is the least amount of space under construction in over a dozen years. The office real estate market is changing more and more, says Walter Herz.
In 2023, on Poland’s largest eight regional office markets, developers delivered 280,000 sqm (-31% y/y). It’s bringing the sector’s total stock to 6.68 million sqm (+4% y/y). The new supply slightly increased the vacancy rate, stabilizing around 17.5% (+2.2 pp. y/y) at the end of December 2023. The largest concentration of tenant activity was observed in the largest regional office markets, i.e., Kraków, Wrocław, and the Tricity (about 70% of gross demand), where, in total, companies leased about 520,000 sqm out of 750,000 sqm of all signed contracts in 2023, says Axi Immo.
A new flexible office concept is being developed in Warsaw's Mokotow district to meet the needs of different types of tenants. Domaniewska 45 Flex are offices leased directly from the building owner, who is also the office operator1. The project is being developed by ASD Real Estate
Despite a decrease in new office construction, major Polish cities outside of Warsaw still anticipate more office space than the capital. By the end of 2023, regional vacancy rates reached record highs.
According to a recent report published by Newmark Polska, total office take-up in 2023 in the largest Polish regional cities surpassed 741,300 sqm - an increase of almost 19% year-on-year and 7% from the pre-pandemic 2019 peak. Meanwhile, issues related to ESG, functionality improvements, efficient office space management and optimisation of lease costs have filtered through into the vocabulary and strategies of tenants and developers alike.
We use cookies to optimise site functionality and give you the best possible experience.
This site uses cookies to store information on your computer.
Some of these cookies are essential, while others help us to improve your experience by providing insights into how the site is being used.
Accept Recommended Settings
Necessary Cookies
Necessary cookies enable core functionality such as page navigation and access to secure areas. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
Analytics
Analytical cookies help us to improve our website by collecting and reporting information on its usage.
Marketing
We use marketing cookies to help us improve the relevancy of advertising campaigns you receive.
Social Sharing Cookies
We use some social sharing plugins, to allow you to share certain pages of our website on social media.
