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Industrial market in Poland

The good macroeconomic performance of the Polish economy is having a positive effect on the warehouse market. Since the beginning of the year, demand has exceeded 2.54 million sq m, spurring on subsequent investments – in Q3 an impressive result of 1.34 million sq m of modern warehouse space was under construction. 

Developers are building on mass, but are less likely to take risks and are limiting speculative investments. High demand, falling staff availability and a limited number of attractive investment areas are affecting rent levels in the market – according to Axi Immo report with summary of Q3 2017 at warehouse market in Poland. 

Gross demand in Poland amounted to 720,000 sq m, of which lease agreements and expansions made up 62 pct. This result is 23 pct higher compared with the same period last year. Despite this, due to record demand in the first half of the year (1.82 million sq m), at the end of 2017 we can expect last year’s result of 3.09 million sq m of leased warehouse space to be equalled or even exceeded. 

Most warehouse space was leased in the Warsaw region – 155,000 sq m, of which over 138,000, or 90 pct, constituted contracts outside the city boundary. In the second place was Central Poland with 134,000 sq m, and just behind it was Upper Silesia with 105,000 sq m of leased warehouse space.

As said Axi Immo’s report the most expansive tenants in the third quarter of 2017 were logistic operators (over 30 pct of demand) and companies from the retail sector (13 pct). A large group of tenants were companies from the automotive sector, whose share in gross demand amounted to over 11 pct. 

The largest new lease contracts in the third quarter 2017 were signed by: Agito in P3 Błonie (33,100 sq m), VIVE Group in Panattoni Park Kielce (26,300 sq m) and FM Logistic in P3 Piotrków (18,300 sq m). Major transactions in the past months also include the contract renewal and expansion of Moto Profil in Prologis Park Chorzów (44,300 sq m), Whirpool in Goodman Wrocław I (25,900 sq m) and the extension of the contract and expansion of Sarantis in MLP Pruszków II (14,400 sq m). 

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