Turning up the volume

Last year was one of rapid growth for Poland's warehouse and logistics sector, reports CB Richard Ellis (CBRE) Polska in "Big Box Poland - Industrial Market in Poland." Compared to 2005, take-up increased by 96 percent to reach a record level of over 857,000 sqm.

Last year, 25 new warehouse projects were added to the market, with a combined total of 609,000 sqm. Poland's total modern warehouse space increased by 36 percent and, at the end of 2006, totaled in excess of 2.53 million sqm.

"The most dynamic growth in new modern warehouse and logistics space, as well as volume of lease transactions, was recorded in [areas outside Warsaw and its vicinity]," said John Palmer, managing director of CBRE Polska. "Increasing interest and growth of regional areas has lead to a more geographical spread of the warehouse and logistics market in Poland. Throughout the course of 2006, in the regions of Katowice, Poznań, Łódź, Piotrków Trybunalski, Wrocław and Gdańsk, close to 450,000 sqm of new space was constructed - representing approximately 74 percent of the total for the year."

At the end of 2006, the total vacancy rate for all sectors of Poland fell to 7.94 percent. Currently, the total amount of available warehouse space is 191,000 sqm, with the highest proportion in existing buildings located just outside the Warsaw metropolitan area.

According to CBRE, the market for warehouse and warehouse-type business parks located within 20 km of central Warsaw experienced increased activity in 2006, with take-up reaching 116,960 sqm. This represents a 40-percent rise on 2005. This sector also recorded the lowest vacancy rate of all the sectors, at 4.98 percent.