Łódź’s total office stock reached nearly 518,000 sqm in the third quarter, according to Cresa. “The office space growth is likely to further strengthen the economic and business ties between Łódź and Warsaw. Meanwhile, this year’s high supply levels have pushed the vacancy rate up, which will encourage some tenants to relocate or take advantage of an opportunity to renegotiate leases,” said Marta Pyziak, head of Cresa’s Łódź office. The third quarter of 2019 saw four office completions: Imagine I & II (14,800 sqm, Avestus Real Estate), Stara Drukarnia (4,700 sqm, Joka), Business House II (1,800 sqm, Business House) and Szkoła Grohmana (1,000 sqm, Royal Mill Investment Group).
