20. Februar 2012 
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Industrial market in Poland is back on track
The warehouse market is witnessing a revival. With regards to 2011, it was undoubtedly a good year for both developers and tenants. Increasing demand and the return of new warehouse projects, which were on hold during 2009-2010, are the best signs of the current upswing. These are the main conclusions of the report ‘2011: Industrial Market in Poland’ by LaSalle. Market is driven both by record-breaking demand volumes and growing developers activity.
Lease contracts signed in 2011 covered 1.69 million sq m of warehouse space. This result is better than 2010 by over 400 000 sq m. Numerous contracts that were signed in previous years were coming to their break in 2011 and there was a need for extension or renegotiation. As a result, 40% of demand were lease renewals.
The most important tenant sectors were logistic operators. In 2011 they leased 468,000 sq m what represented 28% of the market. Electronics companies were also a key player. They leased space of 271,000 sq m in 2011. High demand was also generated by the food industry (176,000 sq m) and retail chains (169,000 sq m).
The upturn in the industrial markets is also seen in the construction activity. Some 371,000 m² of new warehouse space was completed in 2011. Developers built again speculatively, which practically disappeared after crisis in 2009. Although the speculative projects were realized on a small scale, their return is a proof that developers are confident about the future.
At the end of 2011, 354,000 sq m of warehouse space was under construction, almost as much as in the total completion figure for the whole 2011. This shows that the warehouse market in 2012 will also intensively develop further.
Although the number of new completions increased in 2011, vacancy rate was falling. At the end of 2011 potential occupiers could choose among 754,000 sq m of available warehouse space. Vacancy rate stood at 11.5%. To compare, at the end of 2010 there was almost 1 million sq m of existing warehouse space vacant which represents a vacancy rate of 15%.
Lease contracts signed in 2011 covered 1.69 million sq m of warehouse space. This result is better than 2010 by over 400 000 sq m. Numerous contracts that were signed in previous years were coming to their break in 2011 and there was a need for extension or renegotiation. As a result, 40% of demand were lease renewals.
The most important tenant sectors were logistic operators. In 2011 they leased 468,000 sq m what represented 28% of the market. Electronics companies were also a key player. They leased space of 271,000 sq m in 2011. High demand was also generated by the food industry (176,000 sq m) and retail chains (169,000 sq m).
The upturn in the industrial markets is also seen in the construction activity. Some 371,000 m² of new warehouse space was completed in 2011. Developers built again speculatively, which practically disappeared after crisis in 2009. Although the speculative projects were realized on a small scale, their return is a proof that developers are confident about the future.
At the end of 2011, 354,000 sq m of warehouse space was under construction, almost as much as in the total completion figure for the whole 2011. This shows that the warehouse market in 2012 will also intensively develop further.
Although the number of new completions increased in 2011, vacancy rate was falling. At the end of 2011 potential occupiers could choose among 754,000 sq m of available warehouse space. Vacancy rate stood at 11.5%. To compare, at the end of 2010 there was almost 1 million sq m of existing warehouse space vacant which represents a vacancy rate of 15%.
