Between January and March, 1.16 million sqm of warehouse space was leased in Poland, up 20 percent from Q1 2017, according to AXI IMMO. Developers completed 314,000 sqm, but almost 2 million sqm are still under construction. Developers unwillingness to build speculative investments resulted in a low vacancy rate, according to AXI IMMO, which at the end of March stood at 4.2 percent. Most new lease agreements were signed in Central Poland in Q1. A total of 236,000 sqm were leased in that region, of which new lease agreements accounted for nearly 94 percent. Taking second placed, the Warsaw region leased more than 200,000 sqm in the three-month period, followed by Wrocław with 172,000 sqm signed, according to AXI IMMO.
