In the year to date, real estate advisory firm Cresa has advised clients in Krakow, the capital of Lesser Poland, on office lease transactions totalling 19,000 sqm. Many negotiations are still pending.
This year’s largest transactions in which Cresa Poland represented tenants in Kraków, include approximately 12,000 sqm leased in the Vinci Office Center by Akamai Technologies and two deals with an area of over 6,000 sqm in the O3 Business Campus.
“Krakow retains the top spot among regional office markets. Companies based on the outskirts are relocating closer to the city centre to be more attractive to their employees and job candidates, whilst benefiting from easier access to public transportation and more service and entertainment options – it’s a notable trend. Cresa helps tenants make the best decisions for new offices. We support our clients in negotiations or renegotiations of lease agreements, including commercial conditions, algorithms used to settle service charges, and on legal, architectural and technical matters. Our objective is to safeguard tenants’ interest,” says Artur Sutor, Partner, Head of Office Department, Cresa Poland.
“We secured favourable lease terms during the renegotiations,” says Karolina Słysz, Advisor, Office Department, Cresa Poland. “If you begin renegotiations early enough, you have an opportunity not only to talk about rental rates, but also to discuss and secure what is missing in a building such as a bike rental station, a canteen or a newsagent’s shop,” she added.
Cresa Poland opened its Krakow office in August 2018.