The latest Cresa Poland „Occupier Insight H1 2019” report presents a very optimistic picture of the industrial market in Poland. Total warehouse and industrial stock surpassed 16.9 million sqm in this period.
In the first half of 2019, warehouse supply amounted to 1.2 million sqm, up by more than 63% on the same period a year ago.
Nearly 2 million sqm of warehouse space was transacted in H1 2019. New leases accounted for 62% of the leasing volume, followed by renegotiations (33%) and expansions (5%). Most regions reported transaction volumes well above 50% the annual average for 2013-2018, which is evidence of a growing occupier interest in new warehouse spaces compared to previous years.
The largest transactions of the first half of 2019 was nearly 60,000 sqm lease in Panattoni Park Wrocław XI by Pantos Logistics and 58,500 sqm by PepsiCo in P3 Mszczonów.
The overall vacancy rate currently stands at 4.6%, down by 0.75 pp. The highest vacancy rates are in Greater Poland (7.7%), Lodzkie (6.3%) and Lesser Poland (5.3%).
- Net absorption of warehouse and industrial space was up by almost 50% in H1 2019 compared to the same period in 2018. This indicates that the downturn in Germany’s manufacturing sector and the resultant weakening demand for Polish goods have had no adverse effect on occupiers’ demand that remains robust. Given the number of pending transactions, this trend is expected to intensify in the next two quarters – says Bolesław Kołodziejczyk, PhD, Head of Research & Advisory, Cresa Poland.
The report presents data for Poland’s 16 regions as well as an overview of the Polish Investment Zone, and the expressway and motorway network. The development of the road network is an important driver of the warehouse market, among other things, in the Warsaw region.
- Access to expressways and motorways remains critical for warehouse and industrial tenants both in Warsaw Inner City and in Warsaw’s suburbs. To meet their clients’ demands, developers are breaking ground on new projects in the immediate vicinity of Warsaw’s exit roads and the A2 motorway. The development pipeline amounts to approximately 400,000 sqm of warehouse and production space, representing a 90% increase compared with the same period last year. We expect this growth momentum to continue – says Katarzyna Bojanowicz, Business Development Director, Industrial & Warehouse department at Cresa Poland.
