1.6 mln sqm of industrial space leased in 2015

Industrial space take-up in Poland has now hit 1.6 million sqm for the year. The share of speculative developments of space under construction has increased while the vacancy rate has dropped, according to a report by JLL. "Despite the slight decrease in industrial demand in Q3 as compared to previous quarters, the sector's year-to-date results still add up to its best year ever. Since the beginning of the year, gross demand for warehouse and production space in Poland has totaled 1.6 million sqm; 433,000 sqm of which was leased during Q3. If the take-up figures in Q4 are similar to those registered in the previous three quarters, we anticipate that Poland’s industrial market will register record-breaking demand for the third consecutive year," said Tomasz Olszewski, Head of Industrial CEE, JLL. Since the beginning of the year, net demand has reached 1.07 million sqm. The most active sectors in 2015 have been logistic operators (accounting for 30 percent of net demand), followed by retail chains (20 percent), light manufacturing (13 percent) and automotive companies (11 percent). The largest lease transaction concluded during 2015 involved Leroy Merlin, which leased 53,000 sqm in Panattoni Park Stryków II. The most prominent renewal was by Goodyear, which renegotiated the lease of 46,000 sqm in Tarnów Logistic Park. Since the start of 2015, nearly 59 percent of tenant activity has been concentrated in just three regional markets, i.e. Central Poland (21 percent), the Warsaw Suburbs (20 percent), and Upper Silesia (17 percent).