Poland’s commercial property investment volume surpassed €4 billion in the January-September period of 2020, down by 12.4% on the same period in 2019. Logistics accounted for nearly half of the investment activity while offices made up 38% of the transaction volume in Q1-Q3 2020, according to Cushman & Wakefield.
Key findings:
- Investment volume in Q3 2020 reached approximately €1 billion despite the ongoing pandemic and restrictions on public movement in place.
- Logistics accounted for a vast majority of deals.
- The largest transaction was the acquisition of Goodman’s portfolio by GLP, a leading player on the global logistics real estate market.
- C&W anticipates that this year’s investment volume will hit approximately €5.2–5.5 billion, close to the five-year average on the Polish market.
“The Polish commercial real estate market got off to a flying start to 2020, with €1.72 billion worth of deals, which was the second-best result in the first quarter of a year on record. Investment activity slowed afterwards due to the uncertainty caused by the pandemic. The third quarter witnessed a trend towards strategy adjustment among investors to the consequences of the current situation, which prevented a massive dip in investment activity,” says Paweł Partyka, Partner at Cushman & Wakefield.
The largest transaction by volume was the acquisition of Goodman’sportfolio by GLP, a leading player on the global logistics real estate market, who was represented in the deal by global real estate services firm Cushman & Wakefield. It was also the largest logistics deal in Central and Eastern Europe since 2017.
“With its portfolio comprising 1.3 million sqm in Poland, Czechia, Slovakia and Hungary and bold plans for the near future, GLP has built a strategic position in the CEE region,” says Paweł Partyka.
