According to the latest report, “The Industrial and Warehouse Market in Poland”, published by advisory firm Newmark Polska, total modern warehouse and industrial stock in Poland exceeded 37 million sqm in the first quarter of 2026. During this period, the six largest regional markets strengthened their advantage over other locations, accounting for almost 70% of new supply, more than 83% of space under construction and nearly 85% of recorded demand. The average vacancy rate declined not only year on year, but also for the second consecutive quarter.
At the end of the first quarter of 2026, total modern warehouse and industrial stock in Poland exceeded 37.4 million sqm, representing year-on-year growth of just over 6.2%.
“New supply since the beginning of the year amounted to approximately 653,250 sqm, which represents an increase of more than 374% compared with the previous quarter, but at the same time a decrease of just under 4% compared with the first quarter of 2025. In three voivodeships, developers delivered more than 100,000 sqm of space. In total, over 450,000 sqm of new space was delivered in the country’s six main warehouse markets, accounting for almost 70% of total new supply recorded in the first quarter of 2026,” said Jakub Kurek, Head of the Industrial and Warehouse Department at Newmark Polska.
At the end of March 2026, just under 1.46 million sqm of modern warehouse and industrial space was under construction. This was 18.6% less than in the fourth quarter of 2025, but almost 6% more than in the same period of 2025. Projects under construction currently account for just under 4% of Poland’s total existing warehouse stock, indicating relatively limited developer activity. This also points to greater caution among investors and developers when deciding to launch new projects, as well as to the gradual stabilisation of the market after years of very dynamic growth.
“The leader in terms of both space under construction and share in the total volume of ongoing projects remains the Mazowieckie Voivodeship, with 542,400 sqm, or 37.3%. Upper Silesia ranks second, with more than 216,000 sqm, accounting for approximately 15% of all warehouse space currently under construction,” added Jakub Kurek.
Total take-up in the first quarter of 2026 reached nearly 1.58 million sqm, up by more than 46.8% year on year, but down by 27.7% quarter on quarter. It was also the strongest first-quarter result since 2021.
“Taking into account the size of the Polish market and tenant activity over the past 12 months, we can expect interest in leasing warehouse and industrial space to remain at a relatively high level in the near term. As a result, total demand this year may exceed 6 million sqm,” said Jakub Kurek.
New leases dominated the transaction structure in the first quarter of 2026, accounting for 42% of total demand. Renegotiations represented 35.2%, while the remaining 22.8% consisted of expansions, at 11.8%, and sale-and-leaseback transactions, at 11.0%. A particularly high share of sale-and-leaseback deals was recorded in the Podkarpackie Voivodeship, where they accounted for 77.2% of total regional demand, followed by Lubelskie at 44.8% and Wielkopolskie at 43.2%. In addition, tenants leased a total of 91,950 sqm under short-term agreements of up to one year.
The largest transactions completed between January and the end of March 2026 included a 125,800 sqm sale-and-leaseback deal at a warehouse dedicated to Raben in Poznań, as well as two renegotiations: 72,000 sqm at Prologis Park Janki and 68,300 sqm at Logistic City Piotrków Trybunalski. Both lease extensions involved confidential tenants from the retail sector.
At the end of March 2026, the share of vacant warehouse and industrial space in total stock stood at 7.3%, down by 0.1 percentage points quarter on quarter and by 1.2 percentage points year on year. This translates into more than 2.7 million sqm of available space in existing buildings. By comparison, projects currently under construction offer 539,750 sqm for lease, representing just over 37% of the total volume of space under development.
In the first quarter of 2026, further polarisation was observed in asking rents for warehouse and industrial space.
“Facilities equipped with advanced technological and environmental solutions, located in the most sought-after areas, recorded slight rent increases. Meanwhile, owners of lower-standard warehouses faced weaker tenant interest and the need to offer more extensive incentive packages. At the end of March, the highest rental rates continued to be recorded in Warsaw, Zone I, and in the Pomorskie Voivodeship,” said Agnieszka Giermakowska, Head of Research & Advisory and ESG Lead at Newmark Polska.
