仓库市场新兴市场2025年第一季度

Q1 2025 knightfrank.com.pl/en/research The comprehensive guide to the warehouse market in EmergingMarkets EmergingMarkets Emerging Markets Among the developing warehouse locations in Poland, the emerging markets areincreasinglyimportant.These include the Kujawy region(Toruń,Bydgoszcz),Podkarpacie (Rzeszów), Eastern Poland (Białystok, Lublin), as well as the areas aroundOlsztyn, Kielce, Zielona Góra, Legnica and the border areas with Germany. The totalstock of modern warehouse space in these locations at the end of March 2025 reached5.3m sq m, which accounted for 15% of the national supply. The development of thesemarkets is driven by infrastructure investments and the relatively greater availabilityof workers than in the main logistics hubs. Particularly high potential is observed inEastern Poland, where the completion of the Via Carpatia route is of key importance,as it will improve the accessibility of investment areas in the Podlaskie, Lubelskie, andPodkarpackie provinces. Q1 2025 5.3m sqmExistingwarehouse stock 165,000sqmSupplyunder construction In Q1 2025, 88,000 sq m of new warehouse space was delivered in emerging markets,representing a nearly 50% y-o-y increase, yet this result continues to be below thequarter average for the last five years. The largest completed developments included:three halls in MLP Zgorzelec (50,100 sq m), CTPark Rzeszów (33,300 sq m) and Next StepKożuchów (4,100 sq m). During the year, total supply in emerging regions increased bynearly 5%. 12.4%Vacancy rate 88,000sq mNew supply(Q1 2025) Development activity remains limited, with 165,000 sq m of modern warehouse spaceunder construction at the end of March, 37% less than a year earlier. The largestschemes under construction include 7R Park Lublin (57,500 sq m), developed as BTS.In the first quarter of 2025, construction began on four schemes totaling 55,500 sq m,including Bi Park Radom (30,800 sq m). In emerging markets, developers are reluctantto start construction on a speculative basis, and the pre-let level among projects underconstruction reached 70%. 105,000sq mTake-up(Q1 2025) Standard lease termsin warehouse buildings Tenant activity in emerging markets amounted to 105,000 sq m, slightly below thequarter average for the last five years. The largest transactions were new contracts inthe following parks: Bydgoszcz II (18,300 sq m) and Zielona Góra II (11,000 sq m). Newcontracts accounted for 80% of all contracts, renewals for 14% and expansions for 6%. 3.80-4.50Asking rentsfor warehouse spaceEUR/sq m/month The vacancy rate increased to 12.4%, an increase of 2.2 pp year-on-year. The high levelof new supply delivered to the market in the first quarter and moderate take-up had asignificant impact on this result. Despite the increase in availability of space, asking rents in Q1 2025 remained stable. 10.00-12.50Asking rentsfor office spaceEUR/sq m/month 4.00-7.00Service chargePLN/sq m/month 1-1.5monthRent-free period Location of warehouse developments in the region % share of existingstock Existing, under construction and plannedwarehouse space % share of under constructionand planned supply TOP 5 warehousedestinations in the region(by existing stock) Poland 313,930sqkmArea 37.5mPopulation Bydgoszcz680,000 sq m 5.1%Unemployment rate ECONOMIC DATA(03.2025, STATISTICS POLAND) Lublin450,000 sq m Average monthly salary(transportation and storagesector)PLN8,303(gross) Average monthly salary(enterprise sector)PLN9,056(gross) Rzeszów430,000 sq m Świebodzin370,000 sq m HIGH-SPEED ROADS HighwaysKujawsko-pomorskie170kmA1Opolskie90kmA2Lubuskie90kmA2 ExpresswaysLubelskie90kmS12Podlaskie90kmS61 Zielona Góra270,000 sq m CAPITAL MARKETSKrzysztof Cipiurkrzysztof.cipiur@pl.knightfrank.com RESEARCHDorota Lachowskadorota.lachowska@pl.knightfrank.com CONTACTS IN POLAND:+48 22 596 50 50www.KnightFrank.com.pl INDUSTRIAL AGENCYNatalia Mikanatalia.mika@pl.knightfrank.com VALUATION & ADVISORYMałgorzata Krzystekmalgorzata.krzystek@pl.knightfrank.com As one of the largest and most experienced research teams operating across Polish commercial real estate markets, Knight FrankPoland provides strategic advice, forecasting and consultancy services to a wide range of commercial clients including developers,investment funds, financial and corporate institutions as well as private individuals. We offer: strategic consulting, independent forecasts and analysis adapted to clients’ specific requirements,market reports and analysis available to the public,tailored presentations and market reports for clients. Reports are produced on a quarterly basis and cover all sectors of commercial market (office, retail, industrial, hotel) in major Polishcities and regions (Warsaw, Kraków, Łódź, Poznań, Silesia, Tricity, Wrocław, Lublin, Szczecin) and PRS sector in Poland. Long-termpresence in major local markets has allowed our research team to build in-depth expertise of socio-economic factors affecting realestate market in