Industrial space market hits record in 2014

Commercial developers finalized the construction of 1.0 million sqm of warehouse space in 2014, according to a Poland Industrial MarketView Q4 2014 report issued by CBRE Polska, a real estate services and investment firm. The report claims that the activity of renters was high and the vacancy rate reached extremely low level. It is believed that the projects finalized for Amazon contributed to the last year's very good results. The Warsaw agglomeration remains the country leader in terms of warehouse space supply, which totals 2.8 million sqm. It is followed by Górny Śląsk region, with f 1.57 million sqm and Wrocław with 1.26 million sqm of industrial space. The total supply of warehouse space totaled 8.8 million sqm at the end of 2014. As many as 2.5 million sqm was leased last year. The vacancy rate was at 5.8 percent at the end of 2014.