The first quarter in the warehouse space market in Poland should be considered successful. Although the supply side is feeling the effects of decisions made by developers last year to cease work on speculative projects, positive trends are noticeable on the demand side for warehouse space.
Tenant activity significantly exceeded the results recorded in the same period of 2009; however, a significant portion of transactions still consists of renegotiations and lease extensions, which means that vacancy rates are decreasing at a slower pace than the high level of tenant activity might suggest. In several markets, an increase in vacancy levels was even recorded. Due to the high availability of vacant space, asking rents remain at a low level.
More information is available in the attached report.