The average value of office space absorption on the Tricity market amounted to over 58 000 sq. m in the last 5 years. In 2017, there was a record-breaking result of 79 400 sq. m. According to the report “Occupier Economics: Office Market In Tricity In 2017” devised by Cresa, the lease conditions concerning office space are stable.
The record-breaking results pertaining to the Tricity harbors and significant investments in port and transport infrastructure do have a significant impact on the office market in Tricity. We can observe the increasing interest in Tricity office market from companies that want to benefit from the current economic situation in logistics and shipyard production – says Michał Rafałowicz, Director of Pomeranian Region, Cresa Poland.
Companies that search for a new office space in Tricity have a lot of options. The resources of office space amounted to 696 400 sq. m at the end of 2017. There are nearly 149 000 sq. m under construction. The building of the highest investment in Tricity – Olivia Star (ca. 40 000 sq. m) – which belongs to the Olivia Business Center complex, will be completed this year. What's more, there were 56 800 sq. m of vacant buildings at the end of the year, which constituted 8.1% of total office resources in the region (drop by 2.9 percentage points year-by-year).
The vacancy building drop is a result of popularity of a given office market among tenants. In 2017, lease contracts concerning 117 700 sq. m were signed in Tricity. This is a significant increase by nearly 26% in comparison to the results from 2016. The previous year was record-breaking due to the activity of tenants in Tricity. Considering the size of planned supplies in 2018 and the maintenance of activity level among tenants, the rent rates should remain at the current level, that is 13-14.5 euro for sq. m monthly in the buildings class A and 10-11.5 euro for sq. m monthly in the buildings class B – says dr Boleslaw Kolodziejczyk, Director of Market Research Department and Consultancy, Cresa Poland.
In Tricity, there are operational centers from 19 countries, where services are delivered in 33 languages. According to the analysts of Cresa, growth dynamics of the industry of modern services for business should maintain the upward trend in this region.