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Another record breaking quarter for warehouses

Rafał Ostrowski 17 May 2018

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał is a journalist at ‘Eurobuild CEE’. Previously he worked for Wydawnictwo Murator and for Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and published photo-reportages from his travels to Asia, where lived and worked for some time. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. He enjoys sailing, travelling and family life. For ‘Eurobuild CEE’ he specialises in eastern European markets and is responsible for the film direction of Eurobuild TV.

POLAND In the first quarter of this year 1.16 mln sqm of modern warehouse space was leased, according to Axi Immo. This is 20 pct more than in Q1 2017 and a record-breaking start of the year for the third time in a row. In just 3 years, demand in the first quarter has grown by 86 pct.
From January to the end of March this year the highest number of new lease agreements were signed in Central Poland, where 236,000 sqm were leased, of which new lease agreements accounted for nearly 94 pct. Warsaw region came second with over 200,000 sqm, followed by Wrocław with 172,000 sqm. “Improved infrastructure and in particular the completion of a number of sections of the S8 and S7 expressways, combined with the relatively greater availability of staff has created higher demand from investors for new locations in the Warmia-Masuria and Podlasie provinces,” says Anna Głowacz, the head of Industrial at Axi Immo.

The demand mostly comes from logistics companies (32 pct), followed by retail chains (21 pct) and e-commerce (19 pct).

From January to the end of March this year, only 314,000 sqm was completed, 34 pct less than in the same period last year. This was mainly due to breaks in construction due to low winter temperatures. The average vacancy rate at the end of March this year was down to 4.2 pct.

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