2026-03-11-莱坊-Warehouse_market_Warsaw_Q4_2025_4页_325kb

Summary of the Warsaw Warehouse Market in Q4 2025

Core Content

The Warsaw warehouse market remains the most significant in Poland, with a total existing stock of 7.2 million square meters at the end of Q4 2025, representing 19.7% of the national total. The market is characterized by a high level of demand, a moderate vacancy rate, and a mix of existing and new supply.

Key Statistics

• Total existing warehouse stock: 7.2 million sq m
• Annual take-up (2025): 1.4 million sq m (+3% y/y)
• New supply (2025): 270,000 sq m
• Supply under construction (Q4 2025): 640,000 sq m (+22% q/q)
• Vacancy rate (Q4 2025): 4.3% (-1.1 pp y/y)

Lease Terms

• Asking rents (BIG BOX facilities): EUR 3.80–5.00 per sq m per month
• Asking rents (city logistics schemes): EUR 5.00–7.50 per sq m per month
• Service charge: PLN 4.00–7.00 per sq m per month
• Rent-free period: 1–1.5 months

Warehouse Zones

The Warsaw region is divided into two main warehouse zones:

Zone I (Within 12 km of the city centre)

• Stock share: ~20%
• Key areas: Okęcie, Śląwiec Przemysłowy, Targówek, Zerń
• Primary use: Urban distribution and last-mile logistics

Zone II (12–50 km from the city centre)

• Stock share: ~80%
• Key areas: Błonie, Ożarów Mazowiecki, Piaseczno, Nadarzyn, Pruszków, Mszczonów, Teresin, Sochaczew
• Primary use: Large-scale logistics parks with expansion potential

New Supply and Development Activity

• Key completions in 2025:
  • Hillwood Grodzisk Mazowiecki (51,400 sq m)
  • Panattoni Park Warsaw North III (32,900 sq m)
  • Warsaw North Logistic Park (28,500 sq m)
• Largest project under construction: Panattoni Park Grodzisk VI (86,200 sq m), expected to be completed in Q3 2026
• New supply in 2025: 270,000 sq m, which is 40% less than 2024 and 200,000 sq m below the five-year average
• Speculative construction: Nearly 50% of the current under-construction space is pre-leased, higher than the national average of ~60%

Demand Trends

• Annual take-up: 1.4 million sq m, showing slight growth compared to the previous year
• Major leases:
  • Panattoni Park Grodzisk VI (47,800 sq m)
  • P3 Błonie II (41,100 sq m)
  • Chlebnia Distribution Center (35,700 sq m)
• Stable demand: Despite reduced supply, tenant demand remained strong, leading to a decline in vacancy rate

Top 5 Warehouse Destinations (by existing stock)

Economic Context

• Population of Mazowieckie Voivodeship: 5.5 million
• Voivodeship area: 35,559 sq km
• Average monthly salary (enterprise sector): PLN 10,900 (gross)
• Unemployment rate: 4.3%
• Average monthly salary (transportation and storage sector): PLN 10,500 (gross)

Infrastructure

• High-speed roads: 80 km of highways and 500 km of expressways (e.g., S2, S7, S8, S17, S61)
• Transport corridors: European routes E30, E67, and E77 facilitate logistics to Poznan, Katowice, and Kraków

Contacts and Research Team

• Research contact: Dorota Lachowska (dorota.lachowska@pl.knightfrank.com)
• Capital Markets contact: Krzysztof Cipiur (krzysztof.cipiur@pl.knightfrank.com)
• CEO: Charles Taylor (charles.taylor@pl.knightfrank.com)
• Industrial Agency contact: Przemysław Pietak (przemyslaw.pietak@pl.knightfrank.com)
• Valuation & Advisory contact: Małgorzata Krzystek (malgorzata.krzystek@pl.knightfrank.com)

About Knight Frank Poland

Knight Frank Poland provides strategic consulting, market forecasts, and analysis for commercial real estate, including warehouse, office, retail, and industrial sectors. Their research covers major Polish cities and regions, offering tailored reports and presentations to a wide range of clients.

Disclaimer

This report is for general information only and should not be relied upon for decision-making. Knight Frank does not accept any liability for losses or damages arising from the use of this document. Reproduction is not allowed without prior written consent.