PL

POLAND Record breaking 2020 for Polish warehousing

Warehouse & industrial
The highest ever total – 5.2 mln sqm of warehouse space – was leased in Poland in 2020, as a result of significant changes in consumer behaviour in an exceptional year, according to industrial agency Axi Immo.

The industrial and logistics sector was the quickest to adapt to the Covid-19 requirements that were imposed, through adapting supply chains and ensuring health and safety to workers and customers. 2020 was also a year of rapid growth of all segments related to the e-commerce sector.

In Q4 2020, the volume of warehouse investment transactions reached app. EUR 700 mln, thus taking the annual total to a record EUR 2.6 bln – 65 pct higher than in 2019 and 41 pct more than the previous record set in 2018 (EUR 1.8 bln). This also represents around 50 pct of the capital invested in the entire Polish commercial real estate market and was achieved despite significant difficulties with site visits. Increased interest in the warehouse sector has driven down yields, which currently stand at 6–6.25 pct (gross) for big-box facilities, 5.5– 6 pct for city logistics and 4.25–4.5 pct for single-tenant properties with long leases and high-quality occupiers.

The main transactions recorded in 2020 included: the acquisition of Goodman’s Central European portfolio by Singapore stock exchange-listed GLP (app. 880,000 sqm, 66 pct of which is in Poland); the sale of Panattoni’s portfolio of five warehouse properties (app. 280,000 sqm) to Savills IM; the acquisition of seven buildings in P3 Park Mszczonów from P3 by Elite Partners Capital (app. 229,000 sqm), and the purchase of Hines'’ nationwide portfolio (170,000 sqm) by CGL. New players also appeared on the Polish investment market, with one such transaction being the purchase of the Logistic City park in Central Poland (135,000 sqm) by Reino Capital, Grosvenor and IO AM.

Total take-up reached a record 5.2 mln sqm (+29 pct y-o-y). The fourth quarter accounted for 1.5 mln sqm of this – the highest quarterly figure in history. The largest leasing transactions included Amazon Świebodzin (203,500 sqm), Prologis Janki – Euronet (73,400 sqm), Hillwood Łódź I – Amazon BTS (73,000 sqm), 7R BTS Żabka – Radzymin (67,500 sqm) and Panattoni – BTS 4F Czeladź (67,000 sqm).

As a result of the high absorption, the vacancy rate fell back to 7.1 pct (-40 bps y-o-y) at the end of 2020. The highest vacancy was recorded in Upper Silesia (10.2 pct) and Warsaw’s Zone II (10.1 pct). In contrast, Szczecin and Eastern Poland had the smallest amounts of available space (below 1 pct), followed by Warsaw’s Zone III (1.4 pct), Western Poland (2.4 pct) and the TriCity (3.4 pct).

We can say with certainty that throughout 2020, the e-commerce industry was the main force driving changes in the industrial market. The growing popularity of online sales had a positive knock-on effect on activity in other sectors, especially on courier companies and the packaging industry. The second group of companies that recorded significant growth were those producing and distributing durable consumer goods such as electronics, furniture, home furnishings and sports equipment. Another fast-growing segment was the e-mobility industry, especially within the production of batteries for electric cars.
Anna Głowacz, the head of industrial at Axi Immo

Poland’s total industrial stock reached 20.5 mln sqm (+11 pct y-o-y) at the end of last year. Throughout the year, developers completed 2.1 mln sqm (-23.5 pct y-o-y), with the most active players being Panattoni (almost 1 mln sqm), Hillwood (322,200 sqm) and 7R (165,400 sqm). The largest projects delivered in 2020 include Panattoni A2 Warsaw Park (Grodzisk) – 103,700 sqm, P3 Mszczonów – 75,800 sqm, Hillwood Wrocław Wschód II – 63,900 sqm, MLP Pruszków II – 55,000 sqm, Prologis Ruda Śląska – 51,200 sqm and 7R Park Gdańsk II – 50,900 sqm. At the end of the year, there was 1.9 mln sqm of warehouse space under construction (-2 pct y-o-y), with speculative development making up 23.6 pct of the total – its lowest level since Q3 2017. Most new supply under construction is in Upper Silesia – 359,000 sqm, Warsaw – 357,000 sqm and the TriCity – 272,000 sqm.

Latest news

Warehouse & industrial

SERBIA CTP to start work on Serbian logistics park

schedule 09 March 2021
Opr./edited by NN

Czech industrial developer CTP has announced plans to develop CTPark Belgrade Centre, which it claims will be the largest warehousing park in Serbia.

Warehouse & industrial

POLAND Panattoni to build latest Western Pomeranian park

schedule 09 March 2021
Opr./edited by NN

Panattoni has announced that it is to develop a new warehousing park in Western Pomerania.

Events

POLAND The search for a (tennis) star!

schedule 27 January 2021
Eurobuild Conferences

The champion for many years was Michał Małaszyński of APP-Projekt, while the last two years have been dominated by Krzysztof Stempień of Cresa. But who will be carrying off the trophies from the Eurobuild CEE Annual Tennis Tournament this year?

Warehouse & industrial

POLAND MLP to develop super-cool Poznań warehouse

schedule 09 March 2021
Opr./edited by NN

MLP is to develop an 8,500 sqm BTS warehouse for a European logistics operator at MLP Poznań West.

Retail & leisure

AFI to open retail centre in AFI City project

schedule 08 March 2021
Opr./edited by AH

AFI has announced that it is to open a 4,500 sqm shopping centre for its AFI City project, with operations to start from the beginning of 2022.

Residential

Poland Resi4Rent opens another Warsaw building

schedule 08 March 2021
Opr./edited by AH

Rental apartment platform Resi4Rent has added a building on ul. Taśmowa with over 370 apartments to its Warsaw portfolio.

Warehouse & industrial

Poland Accolade grows in Zielona Góra

schedule 08 March 2021
Opr./edited by AH

Accolade is constructing a 45,700 sqm warehouse building in its business park in Zielona Góra.

Warehouse & industrial

CZECH REPUBLIC Contera starts work on Sportisimo mega-shed

schedule 08 March 2021
Nathan North
deputy editor

Czech industrial developer Contera has started work on one of the largest industrial halls in the Czech Republic, in Contera Park D1 in Ostrava.

Retail & leisure

ROMANIA KiK off into Funshop Park Focșani

schedule 08 March 2021
Nathan North
deputy editor

German clothes store chain KiK is to open a 640 sqm store in Funshop Park in Focșani, about 190 km north-east of Bucharest.

Office & mixed-use development

Infinity will take till 2023

schedule 05 March 2021

Construction work has begun on the Infinity office building in Wrocław. has begun.

Office & mixed-use development

Raiffeisen in Monopol

schedule 05 March 2021
Opr./edited by AH

Raiffeisen Bank International AG is moving into the Monopol office centre in Warsaw.

Warehouse & industrial

Romania VGP enters Bucharest

schedule 05 March 2021

Industrial developer VGP has purchased 25 ha to the north of Bucharest where it intends to develop VGP Park Bucharest.

Green projects

POLAND Panattoni goes for climate-neutrality by 2025

schedule 05 March 2021
Nathan North
deputy editor

Panattoni has announced a commitment to achieving climate-neutrality for all of its projects by 2025.

Investment & finance

CZECH REPUBLIC CTP to float in Amsterdam

schedule 05 March 2021
Opr./edited by NN

Czech industrial developer CTP has announced its intention to float on the Euronext Amsterdam stock exchange.

Office & mixed-use development

ROMANIA Sony stays in Bucharest Business Park

schedule 05 March 2021
Opr./edited by NN

Sony has renewed its lease in Bucharest Business Park for another five years.

Hotels

Timișoara City Center now open

schedule 04 March 2021

Optim Project Management has completed the construction of the 6,715 sqm ibis Timișoara City Center hotel on behalf of Hotel Development.

Property and Facility Management

Hungary CovergenCEE works for HB Reavis

schedule 04 March 2021

HB Reavis appointed ConvergenCE to lease 8,000 sqm in Agora Tower in Budapest last year, followed by an additional 6,000 sqm in Agora HUB in February.

Office & mixed-use development

Poland Abris stays on at Grzybowska Park

schedule 04 March 2021

Private equity firm Abris Capital Partners has extended its lease for office space in the recently refurbished Grzybowska Park.

Office & mixed-use development

POLAND Gdański Business Center almost fully leased

schedule 04 March 2021
Opr./edited by NN

Savills Investment Management leased almost 24,000 sqm to ten companies in the Gdański Business Center office complex in Warsaw in 2020 – almost a quarter of its total area.

Warehouse & industrial

POLAND Medical devices from Panattoni Park Tricity North

schedule 03 March 2021
Opr./edited by NN

A medical device manufacturer has leased more than 4,000 sqm in Panattoni Park Tricity North.

Latest in Warehouse & industrial

schedule 09 March 2021

CTP to start work on Serbian logistics park

Czech industrial developer CTP has announced plans to develop CTPark Belgrade Centre, which it claims will be the largest warehousing park in Serbia.

schedule 09 March 2021

Panattoni to build latest Western Pomeranian park

Panattoni has announced that it is to develop a new warehousing park in Western Pomerania.

schedule 09 March 2021

MLP to develop super-cool Poznań warehouse

MLP is to develop an 8,500 sqm BTS warehouse for a European logistics operator at MLP Poznań West.

schedule 08 March 2021

Accolade grows in Zielona Góra

Accolade is constructing a 45,700 sqm warehouse building in its business park in Zielona Góra.

schedule 08 March 2021

Contera starts work on Sportisimo mega-shed

Czech industrial developer Contera has started work on one of the largest industrial halls in the Czech Republic, in Contera Park D1 in Ostrava.

schedule 05 March 2021

VGP enters Bucharest

Industrial developer VGP has purchased 25 ha to the north of Bucharest where it intends to develop VGP Park Bucharest.

schedule 03 March 2021

Medical devices from Panattoni Park Tricity North

A medical device manufacturer has leased more than 4,000 sqm in Panattoni Park Tricity North.

schedule 03 March 2021

Barbora expands into Ożarów II Logistics Centre

Barbora, the owner of the e-grocery store Barbora.pl, has leased 6,000 sqm of warehouse and office space in the Ożarów II Logistics Centre on Warsaw’s western outskirts.

schedule 03 March 2021

AST Supplies prints its mark in Panattoni park

Laser printer supplier AST Supplies has leased over 1,300 sqm of warehouse and office space in Panattoni Park Warsaw Janki III.

schedule 02 March 2021

Panattoni comes to Zgorzelec

Panattoni Development Europe is to purchase a 13.2 ha plot in Zgorzelec on south-western Poland for a warehouse development.

schedule 01 March 2021

ELI to build City Logistics Kraków I

European Logistics Investment (ELI) and its strategic partner Panattoni are to deliver a 37,000 sqm warehouse complex in Kraków’s Nowa Huta district.

schedule 26 February 2021

No Limit for 7R Park Sosnowiec

Logistics company No Limit has leased space in 7R Sosnowiec in Silesia for its new headquarters.

schedule 26 February 2021

TCC enters the region

US developer Trammell Crow Company (TCC) has announced that it is to enter the European warehouse market.

schedule 26 February 2021

Good year for accolade

The Accolade Portfolio has risen in value to EUR 700 mln with rental income up by 35 pct y-o-y.

schedule 26 February 2021

Examining the rise of urban logistics

Over the last decade, the supply of industrial space has more than tripled from 6.3 mln sqm at the end of 2010 to almost 21 mln sqm in 2020, according to the 'Logistics Avenue: city logistics market in Poland’ report published jointly by JLL and Segro.

schedule 25 February 2021

Mobexpert moves into Constanța Business Park

Romanian furniture producer and retailer Mobexpert has leased a 2,000 sqm logistics unit in Constanța Business Park, which is being developed by Globalworth and Global Vision.

schedule 24 February 2021

InPost comes to Prologis Park Chorzów

InPost, which owns the Paczkomaty network of parcel lockers, is to open a new 6,000 sqm logistics centre in Prologis Park Chorzów.

schedule 24 February 2021

Panattoni to build 8th Warsaw city logistics project

Panattoni has announced its latest city logistics project in Warsaw: City Logistics Warsaw VI in the city’s Targówek Fabryczny district.

schedule 24 February 2021

XXXLutz leases from WDP

Austrian furniture and decoration retailer XXXLutz has leased 6,000 sqm in WDP Industrial Park Dragomireşti on Bucharest's western outskirts.

schedule 22 February 2021

Electrolux happy in MLP Pruszków I

Household appliances manufacturer and distributor Electrolux has renewed its occupancy at the MLP Pruszków I logistics park on Warsaw’s western outskirts.

Categories