News from office stock in Lodz Central Poland: numbers still goes up

At the end of H1 2020, Lodz total office stock stood at 548,000 sqm, up by 10% year-on-year. Two office buildings were delivered to the market in the second quarter: Brama Miasta A (14,100 sqm, Skanska) and Zielony by Synergia (4,400 sqm, Synergia). New leases made up 58% of all deals in Q2. Next in line were renegotiations and expansions which accounted for 39% and 3% of the leasing volume, respectively.

The largest lease agreement in H1 2020 was a pre-lease of 16,300 sqm in Fuzja signed by Fujitsu Technology Solutions, followed by a renewal with expansion at Sterlinga Business Center (5,700 sqm, confidential tenant) and a new lease of 4,700 sqm in Brama Miasta B signed by GFT.

Another investment from Lodz, Monopolis was nominated to the Prime Property Prize 2020 in category Architecture. https://monopolis.pl/?locale=en_us

“Office absorption was at 5,600 sqm in H1 2020. The city’s vacancy rate reached 13.2%, representing a 1.1 pp increase year-on-year. There is 72,100 sqm of office space available to lease in existing office buildings. It remains to be seen in the coming quarters how deeply the epidemic-related restrictions on economic activity will impact demand and thereby the appetite for commencing new projects,” says Bolesław Kołodziejczyk, PhD, Head of Research & Advisory, Cresa Poland.