The beginning of 2025 in Poland’s industrial and logistics real estate market was marked by stabilization—both on the developer and tenant sides. According to the report “At A Glance – Industrial and Logistics Real Estate Market in Poland”, the total leasing volume reached 1.11 million sqm in Q1 2025, a 16% year-on-year increase. Notably, renewals accounted for 56% of the total volume, indicating a cautious approach among companies toward signing new contracts.
Developer Activity Slows Down
Approximately 700,000 sqm of new industrial and logistics space was delivered in Q1 2025—down 20% compared to the same period in 2024. The largest share of new completions occurred in the Lower Silesia region (269,000 sqm), Upper Silesia (118,000 sqm), and the Poznań zone (61,000 sqm).
The total volume of space under construction reached 1.37 million sqm, marking a 41% decline year-on-year and a 22% drop compared to Q4 2024. Key ongoing developments include Panattoni Park Zgierz II (68,000 sqm), Tuszyn Logistics Park (59,000 sqm), and 7R Park Lublin (57,000 sqm). Developer activity was most concentrated in the Warsaw II zone (326,000 sqm), Upper Silesia (270,000 sqm), and Central Poland (253,000 sqm). This reduction in new projects aligns with a global trend of slowing growth in the warehouse sector.
“Speculative developments—often a litmus test for the industrial and logistics sector—are limited. Developers are increasingly launching projects only when a significant portion of space is pre-leased. In the coming quarters, we expect renewals to continue dominating gross demand, while developer activity remains subdued. This may gradually lead to lower vacancy rates,” explains Ludwika Korzeniowska, Head of Industrial and Logistics at BNP Paribas Real Estate Poland.
Renewals Dominate Leasing Activity, 3PL Leads the Market
The leasing volume in Q1 2025 exceeded 1.1 million sqm, with the strongest demand observed in the Warsaw II zone (246,000 sqm), Upper Silesia (228,000 sqm), and Central Poland (152,000 sqm). Major transactions included a new 67,000 sqm lease at 7R Park Gdańsk III, a 55,000 sqm renewal by Moto-Profil at Prologis Park Chorzów, and a 50,000 sqm renewal by OBI at P3 Łódź II.
According to BNP Paribas Real Estate Poland, the average pre-leasing rate for projects under construction surpassed 58%. Between January and March, companies from the third-party logistics (3PL) sector accounted for 33% of total leasing activity, followed by retail companies with a 15% share.
While lease renewals dominated (56%), new contracts still made up 36% of the leasing volume. Overall demand remains stable, supported by Poland’s strong economic fundamentals, strategic location in European supply chains, growing importance of nearshoring, competitive operating costs, skilled workforce, developed infrastructure, and access to the EU market.
New players entered the market as well—CIRRO E-Commerce, a logistics provider for e-commerce, officially launched operations in Poland, and the Lithuanian investment fund Nordspace announced plans to develop 100 business parks in the Small Business Units segment.
Stable Rents, Rising Vacancy Rates
After previous increases, industrial and logistics rents stabilized. As of the end of Q1 2025, rents for standard facilities ranged between €3.20 and €8.50/sqm/month, with the highest rates observed in urban locations such as Warsaw and Kraków. SBU (Small Business Unit) tenants paid higher rents, while markets with elevated vacancy levels offered more attractive incentive packages.
The national vacancy rate reached 8.5% at the end of March 2025, representing a quarterly increase of 1 percentage point. The highest vacancy rate was recorded in the West zone (20.1%), while the lowest was in the Opole zone (2.4%). In total, 2.9 million sqm of space remained unleased.
Growing Interest in Self Storage
Analysts at BNP Paribas Real Estate Poland highlight the increasing relevance of the self-storage market, particularly in large urban areas. Nearly 200 self-storage facilities are now operating across the country.
The growth of the self-storage segment is driven by rising demand for flexible and efficient storage solutions—from both individuals and businesses that prefer short-term lease commitments. The sector is especially popular among e-commerce companies, which are still in an early growth phase in Poland but expanding rapidly.
Warehouses and Energy Security
With the increasing automation of manufacturing and warehousing, the need for reliable power sources is growing. Even short power outages can result in significant financial losses, making energy security a critical operational concern.
“Common safeguards against power outages include emergency power systems that ensure operational continuity for a limited time. Recently, photovoltaic and wind installations have gained traction. However, energy storage systems play a key role by storing surplus electricity generated from solar or wind sources,” notes Robert Pawłowski, Head of Industrial and Logistics at BNP Paribas Real Estate Poland.
Source: CEO.com.pl – Industrial and Logistics Real Estate Market in Q1 2025
