仓库市场新兴市场2025年上半年

H1 2025 knightfrank.com.pl/en/research The comprehensive guide to the warehouse market in EmergingMarkets Emerging Markets BeyondPoland’s major logistics hubs,emerging warehouse markets are gainingincreasing importance. These include the Kujawy region (around Toruń and Bydgoszcz),Podkarpacie (Rzeszów), Eastern Poland (Białystok, Lublin, and the Olsztyn area), aswell as Kielce, Zielona Góra, Legnica, and other well-connected areas near the Germanborder. As of the end of Q2 2025, the total warehouse stock in these regions reachednearly 5.4m sq m, accounting for 15% of the country’s total supply. H1 2025 5.4m sqmExistingwarehouse stock Emerging markets are developing at a dynamic pace, driven by growing tenant interestin new locations. Key factors include improvements in transport infrastructure andaccess to a skilled workforce. Manufacturing and logistics companies are increasinglyseeking alternative locations, as labor shortages in major logistics hubs — due to lowunemployment — make recruitment more difficult. Additionally, the construction of theVia Carpatia international route is improving accessibility in Eastern Poland, creatingfurther growth opportunities in the Podlaskie, Lublin, and Podkarpackie voivodeships. 270,000sqmSupplyunder construction 10.6%Vacancy rate In H1 2025, over 120,000 sq m of modern warehouse space was delivered in the region,representing a decrease of nearly 32% compared to the same period in 2024. The largestcompletions in this period included Fortress Logistic Park Bydgoszcz (10,600 sq m),Panattoni BTS Valmet Automotive (8,800 sq m), and P3 Bydgoszcz (8,000 sq m). 120,000sq mNew supply(H1 2025) However, developer activity increased. At the end of June 2025, nearly 270,000 sq m wasunder construction — 60% more than in the previous quarter and 64% more year-on-year. Only the Warsaw region currently has more warehouse space under construction.Across emerging markets, nine warehouse projects are under development, the largestbeing a 73,000 sq m building in Panattoni Park Rzeszów West. Approximately 87% of thespace under construction is already pre-leased, indicating both strong tenant interest inthese regions and developer caution toward speculative projects. 450,000sq mTake-up(H1 2025) Standard lease termsin warehouse buildings In the first half of the year, take-up for warehouse space in emerging markets grewsignificantly. Total leased space amounted to 450,000 sq m, an increase of 78% comparedto the same period in the previous year. The largest transactions between March andJune 2025 included a new lease at Prologis Park Ujazd (63,400 sq m), a new lease atCTPark Sulechów (34,500 sq m), and a new lease at Hi Park Rzepin (19,100 sq m). 3.80-4.50Asking rentsfor warehouse spaceEUR/sq m/month The leasing structure was dominated by new leases, which accounted for 52% of the totalvolume. Lease renewals represented 47%, while expansions accounted for 1%. The vacancy rate in emerging markets at the end of Q2 2025 stood at 10.6%, marking a2.5 pp decrease compared to 12 months earlier. This decline was directly influenced bythe clear recovery in take-up and the higher share of new lease agreements. 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 Source: Knight Frank % 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 Bydgoszcz730,000 sq m 5.2%Unemployment rate ECONOMIC DATA(06.2025, STATISTICS POLAND) Lublin450,000 sq m Average monthly salary(transportation and storagesector)PLN8,610(gross) Average monthly salary(enterprise sector)PLN8,880(gross) Rzeszów430,000 sq m Świebodzin370,000 sq m HIGH-SPEED ROADS ExpresswaysLubelskie90kmS12Podlaskie90kmS61 HighwaysKujawsko-pomorskie170kmA1Opolskie90kmA2Lubuskie90kmA2 Zielona Góra270,000 sq m RESEARCHDorota Lachowskadorota.lachowska@pl.knightfrank.com CAPITAL MARKETSKrzysztof Cipiurkrzysztof.cipiur@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