Kraków’s office stock up 10% y-o-y
Kraków’s office stock grew by more than 10 percent y-o-y to 1.35 million sqm by the end of September 2019, according to Cresa Poland. The leasing volume in the first three quarters came to almost 235,000 sqm. Although the influx of new international market entrants to the Kraków market has slowed down recently, companies that have already built a presence in the capital of the Lesser Poland region are growing at a rapid rate and reporting increased office space requirements. Total office take-up reached an annual high of nearly 235,000 sqm between January and September. Given transactions that will be closed in the final quarter, this year’s leasing volume is likely to hit an all-time high. The largest transactions of the first three quarters included UBS’s 19,300 sqm lease at Fabryczna Office Park, Motorola Solutions Systems’ renegotiation of its 17,100 sqm lease at Green Office, and Sabre’s 16,000 sqm deal at Tischnera Office.