Warehouse space supply at 9.1 mln sqm in Q1

Approximately 270,000 sqm of industrial and logistics space were delivered and the total supply of warehouse space at the end of Q1 stood at 9.1 million sqm. The biggest project finalized in that period was Goodman Poznań II Logistics Centre (82,400 sqm), according to a report by CBRE. Currently, there are 600,000 sqm of warehouse space under construction, of which the construction of 217,000 sqm was started in Q1. The vacancy rate amounted to 5.6 percent in Q1, a decline of 5.8 percent q/q. Around 640,000 sqm were leased with an average price of €4-5.5 per sqm in Warsaw and €2.5-3.9 per sqm outside Warsaw.