The Polish warehouse market saw a gradual decline in deals over the first six months of the year with the number of space leased during the period reaching just 560,000 sqm. That’s a 33-percent slump compared with the same period last year. “The drop is not significant, though the trend is likely to continue in 2013,” Robert Dobrzycki, managing director of Panattoni in Polandn told the daily Puls Biznesu. “Recovery would come no earlier than 2014.”
With developers leery of taking big risks these days, the regional warehouse market is not seeing too many project built on spec, said Tomasz Olszewski from CBRE’s warehouse department. “Built-to-suit projects, however, are not so easy to carry out. The tenant needs to have good financial performance, as pre-let agreement resembling a loan contract, as developers are investigating tenant’s financial credibility,” said Olszewski.
