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The series of reports by Colliers describes the office market in Polish regional cities with special emphasis on the BPO sector. This particular sector is one of the most dynamically developing in Łódź and the number of BPO and SSC tenants is constantly growing here.
Łódź is the third largest city in Poland in terms of the number of inhabitants. It is one of the main industrial and university centers. The office market in Łódź offers 232,000 m2 of modern office space, 20,400 m2 of which was completed in 2013. Another 8,000 m2 is under construction and will be delivered to the market this year.
During the first six months of 2013, the demand for office space totalled 13,000 m2. More than a half of signed contracts were expansions of existing tenants. The average transaction size was 998 m2.
The second quarter of 2013 registered an increase in the vacancy rate. At the end of June, as much as 41,000 m2 of office space remained vacant (17.6%).
Compared to other regional cities, Łódź office market still offers competitive rental conditions. Average rents in A class buildings ranged between € 11.5 and 13.5 /m2/month.
Thanks to the large university base and relatively low office rents, Łódź is one of the biggest BPO centers in Poland. Tenants from that sector present in Łódź include: Accenture, Fujitsu Technology Solutions, AB, Atos Origin, Microsoft, Nordea or SAP.