Tricity’s office stock grows 3% by end of September

Tricity’s office stock grew by more than 3 percent y-o-y to 798,500 sqm by the end of September, according to Cresa Poland. The transaction volume totaled 74,200 sqm in the first three quarters of 2019, up by 12 percent on the same period last year. The largest lease deals signed in the first three quarters included a 10,800 sqm lease renegotiation and expansion by Nordea at Olivia Star, a 9,500 sqm renegotiation and expansion by Jeppensen at Arkońska Business Park, and UTC’s 7,300 sqm deal at Heweliusza 18. New leases accounted for half of all transactions, while renegotiations and expansions made up 37 percent and 13 percent, respectively. “Tricity continues to be targeted by TFL (transport, forwarding and logistics) companies which benefit from the convenient geographic position of this urban area and availability of skilled labor, which all provide an excellent environment in which to expand their shared services centres,” said Michał Rafałowicz, head of the Pomeranian region at Cresa Poland. “It also continues to attract Scandinavian office tenants as the region has been for years a point of entry to reach the markets of Central and Eastern Europe.”