Poland’s warehouse take-up hits 1.3 million sqm in Q2

by   CIJ News iDesk II
2020-08-11   09:28
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Take-up and supply on the Polish industrial market reached high levels in the first half of 2020, according to Cushman & Wakefield. Warehouse take-up hit 1.3 million sqm in the second quarter of 2020 with 2.3 million sqm transacted since the beginning of the year. Net take-up, comprising new leases and expansions, remained robust, amounting to 1.7 million in the first half of the year, which accounted for 74 percent of the total leasing activity. Renewals made up the remaining 26 percent, or 582,000 sqm, of the transaction volume. By region, the strongest leasing activity was on three core markets, including the Warsaw suburbs, Upper Silesia and Central Poland, where a total of 1.2 million sqm was transacted, accounting for more than 50 percent of the total take-up between January and June. More than 1 million sqm of warehouse space has come onto the market since the beginning of the year. Of that total, 600,000 sqm was completed in the second quarter. Around 70 percent of the new supply was delivered to three regional markets: the Warsaw suburbs, Wroclaw and Upper Silesia.