Q1 2026 brought a rebound to the Polish industrial and logistics space market. Increased tenant activity, a predominance of new agreements and a declining vacancy rate point to the sector's condition, according to a BNP Paribas Real Estate Poland report.
Total stock exceeded 37 million sqm, with around 650,000 sqm of new space delivered in Q1. "Although the volume of new supply remains relatively high, its scale is gradually decreasing compared to previous years, indicating a phase of normalisation in development activity," says Ludwika Korzeniowska, Head of Industrial and Logistics at BNP Paribas Real Estate Poland. Among the largest projects completed were 7R Park Gdańsk III (80,000 sqm), Panattoni Park Rzeszów West (73,000 sqm) and Prologis Park Ujazd in Opole (over 63,000 sqm).
Transactions exceeding 1.5 million sqm were concluded, an increase of 46% year-on-year. New contracts dominated the transaction structure (42%), a change compared to 2025, when renegotiations prevailed. Among the largest deals were the sale-and-leaseback of the Raben Poznań facility (over 125,000 sqm), a renegotiation for 68,000 sqm in Logistic City Piotrków Trybunalski, and a new lease for over 67,000 sqm in Marq Wrocław V Logistics Centre. The most space was leased in Warsaw II (20%), Central Poland (16%) and Upper Silesia (15%). 3PL companies led transaction volume at 39%.
At the end of March, space under construction amounted to 1.5 million sqm, a 6% increase year-on-year. "The share of projects secured with lease agreements increased to approx. 63%, reaching its highest level since Q2 2021. This indicates greater tenant interest and limits the risk of rising vacancy," notes Korzeniowska. The largest projects under construction include Panattoni Wrocław Campus 2 (78,000 sqm), Hillwood S8 Warsaw South (58,000 sqm) and Panattoni Park Grodzisk VI (52,000 sqm), concentrated in Warsaw II (34%), Upper Silesia (15%) and Central Poland (11%).
The vacancy rate stands at 7.3%, down 0.1 pp on the previous quarter and 1.1 pp year-on-year. The highest availability was recorded in the Western region (15.2%), Upper Silesia (8.4%) and the Tri-City (8.2%), while the lowest were in Opole (1.1%) and Szczecin (1.4%). Rents remain stable, with prime rents in the best locations at €5.25 per sqm per month, depending on project standard, location and construction costs.
