Colliers International, a leading commercial real estate advisor, has presented the results of a report on the situation in the warehouse space market in Poland at the end of the first quarter of 2011.
The beginning of 2011 brought a slight increase in warehouse space delivered to the market. In the first quarter, nearly 33,800 sq m were completed across four projects. Total warehouse space stock in Poland at the end of the quarter amounted to over 6.45 million sq m. The volume of transactions reached over 376,000 sq m, which represents a 14.7% increase compared to the fourth quarter of 2010. Over 78% of all transactions were new leases, while the remaining 22% were renegotiations and expansions. The vacancy rate remained at a similar level compared to the previous quarter, standing at 14.38%. Rents for warehouse space remain stable with a slight upward trend.
More information is available in the attached report.