Logistic construction levels highest since 2008

At the end of June, there was 853,000 sqm of logistic space under construction across Poland, the highest volume since 2008, with the majority being built near Poznań (316,100 sqm) and Wrocław (314,600 sqm), advisory CBRE wrote in a report. Poland has 8 million sqm of logistic space. The largest logistic market is the Warsaw area (Warsaw I and II) with 2.8 million sqm, followed by Upper Silesia with 1.5 million sqm and Central Poland, which recently crossed the 1 million sqm threshold. Poznań and Wrocław now have close to 1 million sqm of stock each. At €218 million, logistic transaction volume in Q2 2014 was for the first time higher than the total deal volume in the office and retail segments combined. Altogether, real estate transactions in the second quarter totaled €409 million, which was significantly lower than in the first quarter of the year, when close to €1 billion in real estate deals was recorded.