Tricity’s office stock increased by more than 6 percent y-o-y to 790,000 sqm as of the end of the first quarter of 2019. Despite the increase, vacancy fell by 2.3 percent to 5.4 percent compared with the end of last March, its lowest level in five years, according to a new report by Cresa. Office take-up amounted to 9,100 sqm in the first quarter of 2019, just 11 percent of the annual five-year average. New leases accounted for 70 percent of the leasing volume, while renegotiations and expansions made up 25 percent and 5 percent, respectively. The three largest transactions included 3,000 sqm leased by BBK at BCB Business Park II, a 2,600 sqm lease renegotiation and expansion at Alchemia III Argon (confidential tenant) and 1,500 sqm leased by JUUL Labs Services in the same office building.
