Record high amount of new industrial and logistics supply delivered

Record high amount of new industrial and logistics supply delivered

MARKETVIEW
Poland Industrial, Q4 2016
Record-high tenant activity
with e-commerce business driving
the market.
5.9%
3.49 million sq m
1.42 million sq m
1.12 million sq m
*Arrows indicate change from 2015.
Figure 1: Total leasing activity (000 sq m)
4 000
3 500
3 000
2 500
2 000
1 500
1 000
500
0
2006
2007
2008
2009
Warsaw I
2010
2011
Warsaw II
2012
2013
2014
2015
2016
Pan-regional Poland
Source: CBRE Research, Q4 2016.
SUPPLY
Q4 2016 CBRE Research
© 2017 CBRE sp. z o. o. |
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M A R K E T V I E W POLAND INDUSTRIAL
Figure 3: Vacancy rates
Figure 2: Largest completions in 2016
25%
Region
Property
Size (sq m)
20%
Central
Panattoni Park Strykow II
85,200
15%
Warsaw II
Panattoni Park Konotopa
46,800
Silesia
Panattoni Park Sosnowiec II
41,000
Warsaw II
Panattoni Park Grodzisk
38,900
Poznan
Panattoni Park Poznan Airport
35,500
10%
5%
0%
2010
Source: CBRE Research, Q4 2016.
2011
2012
Warsaw I
Pan-regional Poland
Source: CBRE Research, Q4 2016.
Figure 4: Completions (000 sq m)
Figure 5: Headline rents, Q4 2016 (EUR/ sq m/ month)
1 200
1 000
800
600
400
200
0
2010
2011
2012
2013
Warsaw I
Warsaw II
Wroclaw
Central
North
Szczecin
Source: CBRE Research, Q4 2016.
2014
2015
Poznan
Krakow
2016
Silesia
East
2013
2014
2015
2016
Warsaw II
Poland average
Warsaw City
Krakow
East
Wroclaw
Szczecin
Central
Poznan
Silesia
Warsaw Region
North
2.0 2.5 3.0
Source: CBRE Research, Q4 2016.
3.5
4.0
4.5
5.0
5.5
Figure 6: Take-up (TLA excluding renewals) in 2016 (000 sq m) and vacancy rates (%)
600
12%
500
10%
400
8%
300
6%
200
4%
100
2%
0
0%
Warsaw II
Silesia
Szczecin
Central
Poznan
Poland
Take-up (TLA excluding renewals)
North
Vacancy rate
Wroclaw
Krakow
East
Warsaw I
Average vacancy rate for Poland
Source: CBRE Research, Q4 2016.
Q4 2016 CBRE Research
© 2017 CBRE sp. z o. o. |
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M A R K E T V I E W POLAND INDUSTRIAL
V A C A NC Y R A T E S
O U T L OOK
D E M A ND
R E N TS
Warsaw I
Stock
Warsaw II
Regions
Poland
700,000 sq m
2,480,000 sq m
7,840,000 sq m
11,010,000 sq m
0
210,000 sq m
910,000 sq m
1,120,000 sq m
Space under construction
20,000 sq m
300,000 sq m
1,100,000 sq m
1,420,000 sq m
Q4 2016
commencements
10,000 sq m
220,000 sq m
410,000 sq m
650,000 sq m
9.6%
6.6%
5.4%
5.9%
130,000 sq m
790,000 sq m
2,570,000 sq m
3,490,000 sq m
2016 completions
Vacancy rate
2016 total leasing activity
Q4 2016 CBRE Research
© 2017 CBRE sp. z o. o. |
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M A R K E T V I E W POLAND INDUSTRIAL
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