Warsaw’s office vacancy rate hits seven-year low

Some of the largest lease deals on the Warsaw office market were signed in the third quarter of this year, including mBank’s lease at the newly constructed Mennica Legacy Tower. Orange, meanwhile, renegotiated its lease at the office complex on Jerozolimskie avenue. Warsaw’s office stock has increased by 3.1 percent over the year to 5.59 million sqm, according to Cresa Poland. The volume of lease transactions totaled 700,000 sqm in the first three quarters of 2019, representing 92 percent of the annual average for 2013-2018. If occupier activity remains robust, this year’s office take-up in Warsaw is likely to set a new high, according to Cresa.