Łódź’s total office stock hits 528,300 sqm in Q1

Łódź’s total office stock stood at 528,300 sqm at the end of the first quarter, up 12.1 percent y-o-y, according to Cresa. More developments are being planned for post-industrial sites in Łódź. These include Fuzja, Echo Investment’s mixed-use project that will see an old power station revitalized. Its two first office buildings, which will be delivered in 2022, will be occupied by Fujitsu. Office take-up hit 37,700 sqm between January and March, driven by new leases that made up 71 percent of all deals, of which 45 percent were pre-leases. Next in line were renegotiations and expansions which accounted for 15 percent and 14 percent of the leasing volume, respectively. The largest lease agreement in the first quarter was a pre-lease of 16,300 sqm at Fuzja signed by Fujitsu Technology Solutions, followed by a 6,500 sqm pre-lease agreement at Brama Miasta B by a confidential tenant and a renegotiation with expansion to 5,700 sqm at Sterlinga Business Centre by another confidential tenant, according to Cresa.