A very good start to 2014 for Poland’s industrial market. Total gross take-up exceeds 400,000 sq m across Poland in Q1, marking the best start to a year in 6 years.
After the record-breaking 2013, when demand for industrial and warehouse space peaked, the market still seems to be maintaining momentum. In Q1, the gross take-up was in excess of 400,000 sq m, which marks the best beginning to a year since 2008. New lease agreements and tenant expansions totalled 269,000 sq m, which translates into 67% of the gross demand. The remainder was attributable to lease renewals. Taking into account developers’ activity and the good shape of the economy, we see no reason to change our forecast, and that the net demand for industrial space will reach 1 million sq m in 2014 - says Tomasz Olszewski, Head of Industrial Department CEE, JLL.