In first quarter 2020, gross take-up for office space in Warsaw amounted to 139,800 square meters (1.5 million square feet), down by 0.5 percent on the same period in 2019, according to Cushman & Wakefield.
New leases accounted for 55 percent of all deals, while expansions and renegotiations made up 14 percent and 31 percent, respectively. Net take-up hit 95,200 square meters (1.0 million square feet), down by 5 percent on the same period in 2019. In addition, 28 percent of all the new deals struck in the first three months of this year were pre-lets.
“The current situation has had a limited impact on the number of leases in the first quarter, as the first measures to contain the spread of the COVID-19 pandemic were not introduced until March 18, and a substantial majority of transactions scheduled for the first quarter had been finalized or were in their final stages,” said Jan Szulborski, senior consultant at Cushman & Wakefield. “The real impact on dem
