Tri-City office market 'hot on the heels' of leaders
The Tri-City is a unique place on Poland's business map. Excellent quality of life means that the Tri-City 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 the Tri-City will be the third largest regional market with office supply exceeding one million sq m.
“Over the past few years, the Tri-City has undergone an amazing transformation, becoming one of the most desirable Polish investment locations. The area not only provides modern office facilities, but also attracts employees with its high quality of life. Currently, the most popular district in the Tri-City for office developers is Oliwa in Gdańsk, and soon the attractive location with mixed-use projects will become the Young City, a major project planned for the post-shipyard area. Interest in the areas around the airport is also increasing. Investment plans in Gdynia are gaining momentum as well with a business district developing in the vicinity of the PKM Stadion station. In addition, we also anticipate an increase in the attractiveness of Śródmieście in the vicinity of the waterfront”, explains Magdalena Sierant, Senior Consultant at the JLL Office in the Tri-City.
The offer of Gdańsk, Gdynia and Sopot continues to meet the expectations of all types of tenants by offering large office hubs with skyscrapers, renovated tenements as well as office buildings located on the outskirts of the cities. The activity of developers who are currently building 160,000 sq m of new space goes hand-in-hand with demand. In the first half of this year, tenants leased nearly 35,200 sq m, with office supply totalling over 790,000 sq m. Year after year, the popularity of the office market in the Tri-City is confirmed by its low vacancy rate, which at the end of H1 2019 stood at 6.06%. Currently, prime headline rents range between 13.0-14.0 euro / sq m / month.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com