Poland’s total warehouse stock is expected to exceed 35 million square meters soon. By the end of June, the market had stood at around 33.52 million square meters, with the Mazowieckie, Śląskie and Łódzkie regions holding the largest portions of this supply.
In the second quarter of 2024, tenants in Poland rented 1.76 million square meters of warehouse space, surpassing demand in other European countries.
Damian Kołata, Partner and Head of Industrial & Logistics/E-Commerce CEE at Cushman & Wakefield, emphasized the significance of the surge in demand.
“Tenants have more than made up for the weaker results from the first quarter, with this being the second time that demand in Poland has surpassed that in Germany," Kołata said.
He added that large transactions, ranging from 20,000 to 130,000 square meters, accounted for 56 percent of the total rental volume in the second quarter.
The growth of Poland’s warehouse market is attributed not only to domestic companies but also to foreign firms attracted by strategic locations and competitive pricing.
Katarzyna Pyś-Fabiańczyk, Head of Industrial Services Hub at the property advisory firm Savills, said: "The need for data storage is driving interest in facilities that incorporate modern, environmentally-friendly solutions aligned with ESG (Environmental, Social, and Governance) standards."
Pyś-Fabiańczyk added: "I anticipate that Poland's stable economic situation and strong position on the international stage will attract new players among tenants, developers and investors in the coming months."
The sectoral structure of demand has also shifted, with retail and e-commerce companies now accounting for 34 percent of signed contracts, while the share of logistics operators has decreased to 22 percent, down from 36 percent in early 2023.
Analysts expect continued growth in e-commerce and increasing demand for high-quality, ESG-compliant warehouse spaces in the long term, supported by the trend toward nearshoring, where companies move production closer to their main markets.
Currently, 2 million square meters of new warehouse space is under construction across Poland. Developers are becoming more cautious, however, easing off on speculative projects — those built without sufficient rental agreements secured ahead of time.
Base rental rates for large warehouse projects, known as BIG-BOX, remained stable in the first half of 2024, ranging from EUR 3.60 to 6.50 per square meter per month. Smaller projects, such as city logistics warehouses, had rates between EUR 5 and 7.50.
Tenants can often negotiate lower effective rents, however, benefiting from incentives such as rent-free periods and financial contributions toward adapting spaces, which can reduce costs by up to 25 percent.
(rt/gs)
Source: businessinsider.com.pl
