Producer and supplier of ready-made furniture systems, Cyprys has leased 5,600 sqm of modern warehouse and office space on the eastern side of Krakow. AXI IMMO was responsible for comprehensive advisory services, including representing the client in negotiations.
Cyprys is a producer and supplier of ready-made furniture systems, providing comprehensive interior arrangement and equipment services since 1996. The company offers furniture for living rooms, dining rooms and bedrooms. Cyprys in 2009 decided to open a factory where it is constantly expanding the production line. An extensive machine park ensures the versatility and functionality of solutions in implementing orders from large furniture chains.
“We are right in line with our long-term plans and consistent growth policy, which include developing our business and opening a second production plant. We are aware of the growing expectations and, above all, on-time deliveries to customers. We were looking for a production plant which ensures us in terms of well-connected location and blue-collar workers. The eastern regions of Kraków were attractive in these terms and met our’s expectations,” says Paweł Cudzich, CEO, Cyprys.
“Due to the clients’ specific technical requirements, we were looking for a relatively narrow module with two separate entrances to the production area, enabling the maintenance of the technological line. We also consulted technical issues with our experienced consultants from the AXI IMMO BTS department to adapt the building to production activities suited to client needs. What’s more, we were under a lot of pressure, because due to the growing number of orders, the client almost immediately wanted to start working in the new plant,” explains Marta Nowik, Consultant, Industrial & Logistics Agency, AXI IMMO.
At the end of Q1 2021, Kraków was the ninth-largest warehouse market in Poland, offering over 0.56 million sqm of industrial space. While estimates by AXI IMMO experts, in December 2021, the local warehouse market should exceed 700,000 sqm of industrial space. First of all, limited supply contributes to the low vacancy rate, which in Q1 2021 dropped to 3 percent and was the lowest result in almost five years. Secondly, it affects the low activity of tenants due to the lack of expansion opportunities. Historically Kraków occupier demand has for years been generated mainly by local manufacturers and distributors.