Poland's industrial market experienced a significant surge in occupier activity during Q2 2024, leading the country to record the highest warehouse take-up in Europe. Poland's total industrial stock is nearing the impressive milestone of 35 million square meters.

The first half of 2024 closed with nearly 2.7 million square meters of total take-up, reflecting a robust 22% increase year-on-year. In the second quarter alone, tenants leased 1.76 million square meters of warehouse space, more than compensating for the weaker performance seen in Q1. This not only marked the highest warehouse take-up in Europe but also the second instance where Poland outperformed Germany in quarterly leasing volumes.

Notably, large leases, ranging from 20,000 to 130,000 square meters, represented 56% of the total leasing activity in Q2. The largest deals were concentrated in the Wrocław and Bydgoszcz-Toruń regions. In Wrocław, an international e-commerce platform expanded its footprint by taking an additional 126,000 square meters, while LX Pantos renewed and expanded its lease to 100,000 square meters. Additionally, LPP Logistics secured 104,000 square meters near Bydgoszcz for online order fulfillment.

Mirroring last year's trends, new leases and expansions accounted for approximately 60% of the total leasing volume, showing a 24% year-on-year increase, with the remaining 40% attributed to renewed contracts.