More than 25 million m2 of warehouse space in 2022
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Total warehouse space stock in Poland will exceed 25 million m2 in H1 2022, up from 23 million m2 in Q3 this year. The high volume of new supply and demand indicates that in 2022 the warehouse market will continue its dynamic development, and tenants’ interest in industrial and logistics properties will not weaken. It is expected that in the first 6 months of next year the total space resources will exceed the limit of 25 mln m2.
Colliers also predicts that in 2022 the share of e-commerce companies in gross demand will remain at a high level. Courier services will continue to develop dynamically, with more parcel machines belonging to new logistics operators appearing on the market. The “dark store” concept, i.e. distribution and order preparation centers for e-commerce – closely related to the warehouse market – will also gain popularity.
The company also sees further development of the industrial and logistics real estate market in the trend of locating production closer to the home country or the sales region, the so-called nearshoring. Many foreign companies decide to shorten the supply chain, including locating their production plants closer to the sales market. The COVID-19 pandemic brought some supply chains to a complete halt, leaving the world without some essential commodities. Therefore, many entrepreneurs learned from this experience are looking to minimize such risks, including by implementing the idea of nearshoring.
In 2022, there will be more and more warehouses built to the new height standard of 12 meters. Developers are also paying more and more attention to ecological solutions in their buildings. Although in Poland there is not yet any warehouse facility certified with BREEAM at the highest level (Outstanding), there are already buildings certified at the Excellent level (e.g. Panattoni Park Sosnowiec I). The trend for increasingly “green” warehouses will continue strongly next year, it was also reported.
Boom in the Polish warehouse market
Another phenomenon here is the boom in the Polish warehouse market, which is attracting new investors and developers. Since the beginning of the pandemic, several new players have already appeared, who are currently in the process of building their first industrial and logistics facilities, and are announcing further expansion for next year. “This is not the end of entries into this market – in 2022 we can expect further development of interest in warehouse facilities among entities engaged so far in investing in other types of commercial real estate,” Colliers predicts.
In their summary of the current year, experts point out that it was marked by excellent results on the demand and supply side. The amount of space under construction exceeded 3.6 million m2, which is the best result in the history of the market. In Q3, new supply exceeded 1 million m2, thus total market resources reached 23 million m2. Despite the high volume of new supply, the available space was very popular among tenants, which resulted in a vacancy rate below 5%.