Poland ended 2018 with a considerable amount of industrial and warehouse stock, reaching a record-high. The total area destined for industrial and business applications was estimated at 15.79 million sqm in Poland, by the end of 2018, with 2.22 million delivered last year alone, down by 6% compared to 2017.
The most active area in 2018 was Central Poland, with 792,000 sqm constructed, a regional record. The Panattoni Central European Logistics Hub in Łódź (at 214,000 sqm), providing business space for companies such as BSH, Media Expert and Smyk, remains one of the largest in the country.
Furthermore, an additional 1.92 million sqm of logistics spaces were under construction at the end of 2018. New lease agreements and contract extensions accounted for 76% of all deals in 2018, with logistics operators being the most active (36% of all deals) and the automotive sector at the lowest (5%). Most of the country’s projects are developed near major transport corridors, in various out-of-town locations, with the remaining build sites reserved for urban warehouse parks for last-mile logistics.
Last, but not least, the amount of unoccupied space reached 796,000 sqm by the end of December 2018, which is 5% of the country’s stock and down 0.2% from 2017.