The Polish industrial market was hit hard by the slowing economy in 2012, with take-up dropping sharply for the period, compared with figures posted in 2011. Lease transactions for the sector dropped in the period by 305,000 sqm, coming in at just 755,000 sqm at the end of the year.
According to Tomasz Olszewski from JLL’s warehouse department, the weak take-up is the result of tenants adopting a more selective approach, when negotiating extensions to their leases. The number of the speculative investments in the sector remains low, with developers avoiding high degree of risk-taking for new projects.
The markets in Warsaw (395,000 sqm of leased space), Central Poland (270,000 sqm) Wrocław (211,000 sqm) and Upper Silesia (200,000 sqm) saw the highest demand for the warehouse space in the country. Logistic operators continue to provide the greatest momentum to the market (653,000 sqm), followed by the automotive sector (129,000 sqm) and the food sector (120,000 sqm).
