ARTICLES LABELLED WITH TAG TriCity

Morska Agencja Gdynia sp. z o.o., a specialist provider of sea, land and rail freight services, will become a tenant of one of the two buildings of Panattoni Park Tricity East V. It has leased 22,800 sqm of warehouse space in a build-to-suit facility. The tenant was advised on the choice of location and during lease negotiations by real estate advisory firm Newmark Polska.

The company, which owns the Sinsay, Cropp, Reserved, House and Mohito brands, is to occupy approx. 64,000 sqm in two Panattoni Park Tricity South II buildings, where it will commence operations as early as April 2022. The investment will be designed for online orders as well as service returns. 

According to consulting company Walter Herz, the consistently expanding office market of Tri-City has the lowest vacancy rate in Poland currently and the office stock of the Tri-City agglomeration will exceed 1 million sqm after the construction of the ongoing investments is completed.

According to a new report published by Cresa Poland, the Tricity office market is likely to become a tenant’s market soon due to the changing market environment. Tricity is still attractive for the BPO/SSC/GBS sector. Additionally, investments in its seaport and transport infrastructure are a magnet for sea freight operators.

Panattoni has signed a lease with the owner of the Polish fashion label Tatuum – KAN sp. z o.o. The tenant will take up 10,150 sqm at Central European Logistics Hub in Łódź, moving in by mid-August 2020. The developer also leased 14,000 sqm of warehouse space in Panattoni Park Tricity East III to Omega Pilzno.

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.