JLL: Tri-City office market 'hot on the heels' of leaders

2-10-2019

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.

The Tri-City is a unique place on Poland's business map. The combination of Gdańsk, Sopot and Gdynia's potential and their excellent quality of life means that the Tri-City continues to 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.

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.
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.

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