According to the latest report, “Industrial and Warehouse Market in Poland”, the first six months of 2026 saw a marked revival in occupier activity amid a moderate development pipeline. Demand for warehouse and industrial space increased by more than 21% year-on-year, while the overall vacancy rate fell below 7% for the first time since the second quarter of 2023. At the same time, developers shifted into a lower gear, with construction starts averaging around 360,000 sqm per quarter, underscoring continued caution around launching new projects.
At the end of June 2026, Poland’s total warehouse and industrial stock surpassed the 38.0 million sqm mark, an increase of approximately 5.5% year-on-year. This points to a further slowdown from last year’s 7.5% growth rate.
“More than 1.23 million sqm of new warehouse and industrial space was delivered between January and June 2026, representing a year-on-year increase of 7.3%. The second quarter alone saw approximately 578,600 sqm of new completions, down 11.4% quarter-on-quarter but up 23.5% year-on-year. These figures suggest a moderate rebound on the supply side, although the pace of expansion remains clearly slower than in previous years. Mazovia led development activity, with nearly 396,100 sqm of new deliveries, accounting for almost a third of total new supply, ahead of Upper Silesia (143,550 sqm), Pomerania (139,100 sqm) and Lower Silesia (116,100 sqm),” says Jakub Kurek, Head of Industrial and Warehouse, Newmark Polska.
Warehouse space under construction
Development activity remained moderate for another consecutive quarter, with approximately 1.30 million sqm of warehouse and industrial space under construction at the end of June 2026, down 10.4% quarter-on-quarter and 11.2% year-on-year.
“More than half (53.9%) of this total was concentrated in Mazovia (nearly 381,350 sqm) and Upper Silesia (321,150 sqm). Collectively, Poland’s six largest industrial markets (Mazovia, Upper Silesia, Lower Silesia, Łódzkie, Greater Poland and Pomerania) accounted for nearly 85% of the development pipeline. Meanwhile, the volume of construction starts fell by around a quarter compared with the same period last year, which is likely to result in lower new supply levels in the coming quarters,” adds Jakub Kurek.
Tenant activity on the warehouse and industrial market in Poland
Total warehouse and industrial take-up in the second quarter of 2026 exceeded 1.93 million sqm, up 22.4% quarter-on-quarter and 6.3% year-on-year. This marked the strongest second quarter in four years (since Q2 2022) and the fifth-highest quarterly leasing volume on record in the Polish market.
“Total transaction volume in the first half of 2026 reached more than 3.51 million sqm, representing a 21.3% increase over the same period last year. Importantly, leasing activity accelerated while vacancy declined, pointing to the gradual absorption of space available in existing warehouses, even as total stock continued to expand. The first half of 2026 saw a marked shift in the structure of take-up by transaction type compared with the same period last year. New leases accounted for 52.1% of total leasing volume (approximately 1.83 million sqm), while the share of renewals fell to 34.4% (around 1.21 million sqm). Expansions represented 7.8% of take-up, with sale-and-leaseback transactions contributing a further 5.7%. By comparison, in the first half of 2025, new leases and renewals accounted for 40% and nearly 54% of total take-up respectively. In addition, approximately 172,700 sqm was transacted under short-term agreements, up nearly 35% year-on-year,” says Jakub Kurek of Newmark Polska.
The strongest leasing activity was recorded in Upper Silesia, Lower Silesia, Łódzkie, Mazovia and Greater Poland, which accounted for 17.7%, 16.6%, 16.3%, 15.8% and 15.2% of total take-up respectively.
Standout transactions in the first half of 2026 included Raben’s sale-and-leaseback of a 125,800 sqm built-to-suit warehouse in Poznań, an undisclosed tenant’s lease of 107,850 sqm at EQT Exeter Poznań Żerniki I, the renewal of Castorama’s lease for approximately 101,500 sqm at Panattoni BTS Castorama in Stryków, and a new 100,000 sqm lease signed by Latex Opony at Panattoni Park Bytom. E-commerce companies stepped up leasing activity in the first half of 2026, contracting more than 800,000 sqm and accounting for nearly 23% of total take-up. The most active e-retailers in the leasing market included Shein and Temu. The first six months of 2026 also saw 11 transactions for 50,000 sqm or more, up from seven a year earlier.
Warehouses to lease
According to Newmark Polska, warehouse availability in existing buildings amounts to more than 2.5 million sqm, representing a decline of over 15% year-on-year, with an additional 502,000-plus sqm available for lease in the development pipeline.
At the end of June 2026, Poland’s overall vacancy rate fell to 6.6% (down from 8.2% a year earlier). The vacancy rate fell below 7% for the first time since Q2 2023.
The highest vacancy rates were recorded in Świętokrzyskie (17.9%) and Subcarpathia (14.0%), while the lowest were in Opolskie (1.1%), Warmia-Masuria (2.1%) and Western Pomerania (2.3%). Across most key markets, vacant space represented approximately 5–8% of stock, with notable year-on-year declines in Lower Silesia, Central Poland and Greater Poland.
Rents
Prime warehouse and industrial rents have held relatively firm across Poland’s core markets amid growing bifurcation between modern, well-located facilities and older, less efficient buildings.
“The decline in vacancy rates has reduced downward pressure on prime rents. At the same time, owners of lower-quality assets or facilities located in markets with higher availability are inclined to offer more generous incentive packages. Prime rents remain highest in Warsaw (zone 1) and Pomerania,” comments Agnieszka Giermakowska, Research & Advisory Director, ESG Lead, Newmark Polska.
