Warehouse vacancies down by 2.5 pp y/y in Q3 2014 – report

Due to strong demand for warehouse space during the first three quarters of 2014, the vacancy rates on the warehouse and industrial market decreased by 2.5 percentage points at the end of Q3 2014 year-on-year, to a level of 8 percent, advisory CBRE said. The demand increased by 20 percent y/y, from 1.2 million sqm in Q1-Q3 2013, to 1.5 million sqm in the corresponding period of this year. CRBE expects the demand to reach 2.2 million sqm for the entire 2014. Poland now has 8.5 million sqm of modern warehouse space and another 650,000 sqm is under construction.