The total office stock in Kraków reached 1,257,500 sqm last year, of which 155,200 sqm was delivered in 2018 alone, according to Cushman & Wakefield. Net absorption hit 155,100 sqm, representing a 4-percent increase y-o-y. Last year’s largest office completions included Cavatina’s Equal Business Park C (23,500 sqm), Echo Investment’s O3 Business Campus (19,200 sqm) and the first phase of Decon Investment’s Podium Park (15,700 sqm). Key lease transactions were the 14,000 sqm lease at Tertium Business Park I, Capgemini Polska’s 11,850 sqm renegotiation at Rondo Business Park 1 & 2 and the 10,950 sqm expansion and renegotiation by UBS at Kraków Business Park 800. Prime office rents stood at €14.50 per sqm in 2018, but are expected to edge down in 2019 due to high supply levels, according to Cushman & Wakefield.
