Briefs

TKG International's 3rd project

Construction started last month on Stolica Business Centre, TKG International's latest warehouse/office project, to be located on the E-77 Krakow highway, 5 kms south of Janki near Warsaw. The first phase, to consist of two buildings totaling 11,000 sqm, has been leased to Messenger Service Stolica. The second phase will add an additional 15,000 sqm of space.
Black & Veatch Poland is the general contractor and architecture firm APA Wojciechowski is the architect. DTZ Zadelhoff Tie Leung is exclusive leasing agent.

Maxon leases of 2,595 sqm.

Polish property consultancy Maxon Nieruchomosci has announced conclusion of lease agreements for 2,595 sqm of warehouse and office space in and around Warsaw.
Manta, a computer-accessories distributor, leased 650 sqm at the 'Elemis' warehouse and distribution centre in Targówek Przemyslowy in Warsaw, while Procan Logistyka (servicing Canal + and Cyfra +), signed a 660-sqm lease at Pruszków Distribution Centre to take its total to 1,400 sqm in the centre. Packaging manufacturer David S. Smith has leased 135 sqm of office space and 1,150 sqm of warehouse space at a warehouse centre in Tarchomin.

500,000 sqm by end of 2002

It is anticipated that supply of Class A warehouse space within a 20-km radius of Warsaw will reach 500,000 sqm by the end of 2002, according to CB Richard Ellis's recent Market Index brief. The figure was around 475,000 sqm at the beginning of the year. The beginning of 2002 has shown the vacancy rate continue to fall and at publication of the brief the figure was around 25%. Predictions are for the figure to fall to around 15% by the end of the year as less stock comes on the market. The trend, according to CBRE, is for occupier space requirements within Warsaw to be for units between 1,500 sqm and 3,000 sqm with a high office content of over 15%, and a minimum ceiling height of 9 metres. Rent is very much dependent on quality and specification, but falls mainly between USD 5 - 7 sqm.