Sector stock grows
According to Review: Industrial and Logistics Market in Poland, the latest report from BNP Paribas Real Estate Poland for the second quarter of 2025, Poland’s total stock surpassed the 36 million sqm mark, marking a 7.5% increase compared with the same period last year. Several new projects were delivered to the market by the end of June. The largest included Panattoni’s Park Szczecin VI (Dunikowo), spanning 54,000 sqm; Hillwood’s facility in Grodzisk Mazowiecki, Warsaw II, totalling 51,000 sqm; Panattoni’s Park Sosnowiec Expo in Upper Silesia, at 47,000 sqm; and LemonTree’s Booster Zabrze at 38,000 sqm.
Projects under way
Although warehouse developers are taking a cautious approach to launching new projects, large-scale facilities are still scheduled for delivery in the coming quarters. At the end of the first half of 2025, the development pipeline stood at 1.5 million sqm, down approximately 26% year-on-year. The largest volume of new industrial and logistics space under construction was in Mazovia (435,000 sqm). The leading zones for development activity were Warsaw II (28%), Upper Silesia (13%) and Tricity (12%). The largest projects in the pipeline included 7R Park Gdańsk III (80,000 sqm of new space), Panattoni’s Park Rzeszów West (73,000 sqm) and Park Zgierz II (68,000 sqm), followed by Prologis’ Park Ujazd in Opole (63,000 sqm).
Developer caution
The sector continues to grow steadily, although growth remained below 10%. The first half of 2025 saw 1.15 million sqm of new completions, marking a decrease of approximately 30% compared with the same period last year. In the second quarter, 468,000 sqm was added to the country’s total stock, down by 31% from the previous quarter.
No break for tenants
Despite a decline in new industrial and logistics completions, tenants continue to actively seek modern facilities.
“Total gross industrial and logistics take-up exceeded 1.84 million sqm in the second quarter of 2025, representing an increase of over 66% quarter-on-quarter and 7% year-on-year. This also marked the fifth-highest quarterly level of leasing activity recorded in Poland’s warehouse market since records began,” says Ludwika Korzeniowska, Head of Industrial and
Logistics, BNP Paribas Real Estate Poland.
Gross transaction volume by zone shows that Lower Silesia and Upper Silesia accounted for the largest shares, at 17% each, followed by Warsaw II with 13%. These data indicate that the Silesian regions remain key locations for the industrial and logistics market.
Take-up structure and major leases
Gross take-up in Q2 was dominated by lease renewals, which accounted for 54% of the total. According to BNP Paribas Real Estate Poland, this was driven by the expiry of contracts signed during the boom years for demand in 2020–2021. Faced with geopolitical and economic instability, tenants are increasingly exercising caution regarding relocations or expansions, viewing lease extensions as the optimal and safest solution. Expansions made up 5% of total take-up.
Notably, sale-and-leaseback transactions are gaining momentum across the Polish industrial and logistics market. The two largest transactions in the second quarter were such deals, involving two production facilities leased by Eko-Okna: in Wodzisław Śląski (131,000 sqm) and Kędzierzyn-Koźle (131,000 sqm). Major new leases saw SHEIN take 79,000 sqm at ECE Kąty Wrocławskie and Schaeffler occupy 63,000 sqm at Prologis Park Ujazd in the Opole zone.
Leasing activity was predominantly driven by logistics, distribution and transport, which accounted for 37% of the market. Manufacturing companies contributed 33% to gross industrial and logistics take-up, with retailers adding another 22%.
Rents hold firm
At the end of the second quarter, Class A industrial and logistics rents in Poland’s key markets remained stable. Monthly rental rates for logistics and distribution space averaged EUR 4.3 per sqm, while those for urban logistics facilities stood at EUR 7 per sqm – unchanged relative to the previous quarter and year. Of all zones, Warsaw I showed the greatest variation in asking rents.
“The outlook for the coming quarters points to continued stability in both rental levels and leasing activity. The industrial and logistics market remains balanced, with pricing pressure limited to locations with elevated vacancy rates,” says Piotr Załęski, Director, Industrial and Logistics, BNP Paribas Real Estate Poland.
Vacancies
At the end of the first half of the year, Poland’s overall vacancy rate stood at 8.2%, down 0.2 pp compared with the first quarter and 0.1 pp year-on-year. The highest warehouse vacancy rates were recorded in the West (17.1%), Tricity (10.7%) and Lower Silesia (9.6%), while the lowest were in Opole (1.7%), Szczecin (3.3%) and Krakow (3.4%).
Total industrial and logistics availability reached 2.8 million sqm, representing an increase of 0.3% quarter-on-quarter and 5.8% year-on-year. This volume of unoccupied space undoubtedly increases market competition and makes it easier for tenants to find suitable facilities.
