According to the latest report “Warehouse and Industrial Market in Poland” published by the advisory firm Newmark Polska, in the first quarter of 2025, the total stock of modern warehouse and industrial space in Poland exceeded 35 million square meters. Lower Silesia – with over 5.25 million square meters of warehouse space – overtook Central Poland, ranking third among the largest regional markets. Existing warehouses now offer nearly 3 million square meters of space for lease – the highest volume of available space in the history of the Polish market. The vacancy rate increased only slightly year-on-year – by 0.3 percentage points.
At the end of Q1 2025, Poland’s total stock of modern warehouse and industrial space surpassed 35 million sqm, reflecting a year-on-year increase of just under 8%.
– “New supply between January and the end of March amounted to approximately 679,700 sqm, which represents a 34% increase compared to the previous quarter, but more than a 20% decrease compared to Q1 2024. Nearly half of this volume was delivered in Lower Silesia, which surpassed Central Poland in terms of total warehouse and industrial stock, moving up to third place among Poland’s largest regional markets,” said Jakub Kurek, Head of Industrial and Warehouse Department at Newmark Polska.
Developer activity continues to decline quarter over quarter. As of the end of March 2025, just under 1.4 million sqm of modern warehouse and industrial space was under construction – 21.8% less than in Q4 2024 and almost 41% less than in the same period in 2024. This is the lowest quarterly construction volume since Q3 2019. Only three voivodeships – Mazowieckie, Śląskie, and Łódzkie – had more than 250,000 sqm under construction each, while in the remaining regions, less than 100,000 sqm was being built. From January to the end of March, developers broke ground on nearly 310,000 sqm of warehouse space, 70% of which was located in the Mazowieckie region. Overall, nearly 80% of ongoing warehouse development in Poland is concentrated in six key regions: Warsaw and surroundings, Upper Silesia, Lower Silesia, Central Poland, Greater Poland (Wielkopolska), and the Tri-City (Trójmiasto).
– “The total leased space volume in Q1 2025 reached nearly 1.11 million sqm, marking a year-on-year increase of over 16%, but a 45.1% decline quarter-over-quarter. The average tenant activity level in Q1 over the past five years has not exceeded 1.3 million sqm. The demand recorded in Q1 2025 suggests that tenant interest in leasing warehouse space will remain stable throughout 2025, with the total lease volume likely to exceed 5 million sqm this year,” added Jakub Kurek.
In the leasing structure for Q1 2025, renegotiations dominated (57%). New lease agreements accounted for 36% of total demand, while expansions made up the remaining 7%.
It is also worth noting that tenants leased a total of 56,650 sqm under short-term agreements (up to one year). Significant shares of renegotiations were recorded in Mazowieckie (76.6% of total demand), Zachodniopomorskie (72.2%), Śląskie (69.1%), and Łódzkie (67.0%).
Among the largest transactions completed from January to March 2025 were: a confidential 3PL tenant leasing 67,800 sqm in 7R Park Gdańsk III, a 55,900 sqm lease renegotiation in Prologis Park Chorzów, and OBI’s lease renegotiation for a 50,600 sqm BTS facility in P3 Łódź.
At the end of March this year, the vacancy rate stood at 8.5% of total stock, representing an increase of 1.0 percentage point quarter-on-quarter and 0.3 percentage point year-on-year. Availability of warehouse and industrial space in existing buildings continues to grow, reaching nearly 3 million sqm – the highest vacancy level in the history of the Polish market. In comparison, ongoing construction projects offer around 565,500 sqm for lease, representing just over 41% of total space under construction.
– “Rents for prime warehouse and industrial space in major markets remain relatively stable. At the end of March 2025, the highest rates were observed in Warsaw (zone I), as well as in the Śląskie, Pomorskie, and Małopolskie voivodeships. Sustainable warehouses and facilities that help companies optimize both leasing costs and operational efficiency continue to enjoy high tenant interest. Asking rents for such facilities remain elevated, with relatively limited incentive packages offered to tenants,” said Agnieszka Giermakowska, Head of Market Research and Advisory, ESG Leader at Newmark Polska.
Source: https://ceo.com.pl/rynek-magazynowy-w-polsce-przekroczyl-35-mln-mkw-raport-newmark-polska-q1-2025
