Case Study CUBE Office Park

Approx. 10,000 sq. m located outside the business centre of Gdansk had to be re-commercialised. Additionally, the market was not aware of the availability of A-Class space in CUBE Office Park, as the building had been fully leased for many years. The re-commercialisation coincided with a market slowdown caused by the effects of the pandemic, which meant increased cost sensitivity for tenants and longer decision-making processes. At the same time, it was necessary to refresh the common areas and ensure a smooth process of commercialisation, given the lack of an on-site commercialisation team on the landlord’s side.

We conducted a comprehensive analysis of the facility, its vacancy structure and its real potential in the current market conditions. Based on this, we developed a commercialisation strategy and lease offer, adapting the product to various space types and redefining the financial terms in order to reflect the current market situation and the standard offered by the property.

We proposed and oversaw the implementation of a solution that increased the facility’s attractiveness – the CUBE Flex coworking space, which effectively addressed the growing demand for flexible lease models. We handled requests for proposals and space presentations, supported space planning and valuation processes, handled the renegotiation of existing contracts and actively communicated the availability of space on the market through marketing activities and collaboration with brokers. The owner was informed about all these activities, the ongoing progress and was provided recommendations for further steps on a regular basis.

Over a period of 18 months, we managed to reduce the vacancy rate in the complex by over 50% and successfully launched and fully commercialised the subsequent stages of CUBE Flex. Consistent market presence, systematic communication with the brokerage chain and active lead pipeline management have translated into an increase in the visibility of the facility, despite its location outside the main business area.

The strategy used, based on flexible forms of lease, allowed for significant improvement of the efficiency of commercialisation and generated revenues above the market averages for this location, strengthening the position of CUBE Office Park as a stable and competitive partner offering high quality space at an optimal level of lease costs.