Record demand and supply levels in warehouse property market

The first quarter of this year was the best Q1 in the whole history of the warehouse property market in Poland, according to a recent report by JLL. The demand reached the record level of 855,000 sqm, with Silesia, Warsaw and Wrocław having seen the most tenant activity in the period. Also developers put up a record performance in the first three months of 2017 – as much as 538,000 sqm of new space was completed in the period, which brought the total warehouse space stock in Poland to 11.7 million sqm. Almost 1.4 million sqm of warehouse space was under construction at the end of Q1, with 29 percent of that area being developed on a speculative basis. The vacancy rate rose only slightly in Q1, to 6.4 percent, the JLL study said.

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