ARTICLES LABELLED WITH TAG TriCity

Radisson Hotel Group announced the opening of the Radisson Blu Hotel in Sopot and the Radisson Hotel Szklarska Poręba, bringing its portfolio to 14 properties in operation in Poland.

New office space for lease is being absorbed very quickly in Tricity. In the first half of 2019, the region’s net absorption of 16,300 sqm nearly matched new supply (17,400 sqm). Approximately 50,000 sqm of new office space is scheduled for delivery by the end of 2019.

Tri-City continues to attract investments and the three cities' office sector continues to expand. The uniqueness of the Tri-City market is underpinned by the fact that the largest office complex in Poland is located here. What's more, Poland's first office park to be located within an airport is planned for Gdańsk, while Gdynia will offer unique office space situated on the waterfront. According to last year's JLL estimates, in 2021 Tri-City will be the third-largest regional market with office supply exceeding one million sqm.

Tri-City is becoming increasingly popular amongst global players looking for optimal location conducive to further business development. Furthermore, the growing business image of the region is contributing to a great deal of interest in office space and boosting developer activity on the local market. JLL estimates that by 2021 the total office stock in the Tri-City area may exceed 1 million sqm.

Office supply on the Tricity market keeps breaking new records with the average annual growth at 9% for the last five years. Tricity is currently Poland’s third-largest regional office market (excluding Warsaw) and continues to strengthen its position, according to Cresa’s report.

Panattoni Europe nears the finish line with the launch of its fourth logistics centre in Tricity. Panattoni Park Gdańsk IV, with 41,500 sqm planned at full build-out, is only 4 km away from the Port of Gdańsk and the deep-water container terminal DCT Gdańsk, and the first tenants will be able to move into it already in the coming August.

Regional cities in Poland are attracting an increasing number of tenants and more development activity. Cresa analysed the office markets of Wrocław, Łódź and Tricity.

In 2017, Tricity’s office space absorption hit a record high of 79,400 sqm, compared to the five-year average of more than 58,000 sqm. Leasing conditions in the region hold stable, says tenant-only real estate advisory firm Cresa.

Office take-up in 2017 hit a record high of 674,800 sqm in Poland’s regional office markets, up by more than 16% on 2016’s level. The strongest leasing activity was recorded in Kraków, Wrocław and Tricity. Cushman & Wakefield has published its MarketBeat report.

Class A office buildings in the downtown areas of Gdańsk and Gdynia will finally become available for lease, complementing office provision on the outskirts of the Tricity agglomeration. Tenants are likely to move to new headquarters in more prestigious locations, says Michał Rafałowicz, Head for the Pomeranian Region at advisory firm Cresa Poland.