CB Richard Ellis Ltd partnership has prepared a report on office space in the Tri-City (Tri-City Office Market View). The list of the most important conclusions:
1. Tri-City is considered to be one of the fastest growing regions in Poland. Intensive development of infrastructure, proximity to the airport and the seaside location contribute to the excellent image of the city in the context of business. Many developers choose Tri-City as a destination of their investments. Tri-City economy is based increasingly on knowledge, systematically changing the face of the region.
2. Supply of modern office space of Gdansk, Gdynia and Sopot is estimated a total of over 351 thousand square meters, which makes the area the fourth largest market in Poland. The region is a very popular location for BPO activities - just as Warsaw, Krakow and Wroclaw.
3. The first major office project in the region was Baltic Business Center, built in 1995. However, the golden years for the region started after 2000, when a large amount of modern office space has been commissioned.
4. Currently, in the Tri-City, more than 60 thousand square meters of office space is under construction. In 2012 and 2013 another 150 thousand square meters of offices are planned. The region is characterized by the presence of local developers such as Torus, TPS, Allcon Investment and Hossa Investment.
5. Flourishing development of the developer market is accompanied by a growing demand for office space. Rented space in the Tri-City last year amounted to about 35 thousand square meters. In subsequent years, we expect further growth in tenant activity in the region
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6. Vacancy in the Tri-City are generated mainly by the vacant surface of the Class B and newly commissioned projects that have not found tenants yet. However, this type of office space should be quickly cultivated by the BPO sector, whose activity is recently characterized by a steady increase.
The highest asking rents for modern office space in the Tri-City area for a long time remain stable and varies between 13-16 EUR/sq m/Month. In the longer term, we expect slow growth in rental rates in the region.
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