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Polish warehouse market: growth in a different way

Yellow industrial robot in an automated warehouse sorting packages against the backdrop of tall shelves filled with cardboard boxes. The image illustrates modern AI and robotics solutions in re-commerce logistics, as discussed in the JLL material.

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Nowoczesny magazyn wysokiego składowania firmy Colian w Opatówku - biały budynek przemysłowy z logo Colian na fasadzie, otoczony zielenią na tle błękitnego nieba.

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** According to the "Made in Poland" report, a comprehensive guide for investors - manufacturing companies that are considering starting operations in Poland, as well as for those that are already present and developing their operations in our country, the industrial real estate market in Europe is growth dynamics. It has proven resilient and critical to the global economy during the challenging years of 2020 and 2021, with interrupted and disrupted supply chains forcing major players to act immediately and adapt their real estate strategies. Today, these movements are shaping the future of the entire industrial market.**

Poland is the sixth largest real estate market in Europe. The diversity of assets and a wide selection of locations are our important distinguishing feature. Investors entering the Polish market have a wide range of potential development opportunities at their disposal, depending on their individual business strategy.
Over the last five years, existing warehouse resources in Poland have more than doubled. The commercial resources of industrial and logistics space in Poland today exceed 26 million m².

Most of the existing warehouse resources are located near major Polish agglomerations and cities, such as Warsaw, Katowice, Łódź, Wrocław and Poznań, which account for 80% of the national supply.

Recently, new locations have also attracted the attention of developers and tenants, with the markets surrounding the Lubuskie Voivodeship, the vicinity of Bydgoszcz and Rzeszów taking the lead.
 
Moreover, selected key logistics and industrial locations in Poland have been shaped based on their history and characteristics, which further confirms the maturity of the Polish market. The industrial achievements of Upper Silesia and Rzeszów (including aviation) translate into the sector's current investments in these regions. The situation is similar in Central Poland and Bydgoszcz, where due to the convenient location in the center of the country and communication advantages, there is increased investment activity by logistics operators and retailers. Western regions, such as the Lubusz Voivodeship and the Wrocław area, are often chosen by companies operating in Western Europe. Tricity and Szczecin largely attract companies that use access to sea ports.

The amount of industrial land available for development continues to grow. Driven by unwavering demand, developers are securing new plots of land, and local governments are eager to issue local development plans, encouraging the launch of new projects by both domestic and foreign investors. Investments in road infrastructure also create new location opportunities, attractive in terms of communication, labor market and public subsidies.

One of the first decisions to be made regarding real estate is to choose between renting or purchasing space. This decision will largely depend on the business strategy, investment time horizon, potential expansion plans and the investor's degree of flexibility.
You don't have to be the owner of a building to receive public support - tenants can also receive state aid. Therefore, manufacturers can choose from many development options - from renting or purchasing an existing property to the construction and lease of a new built-to-suit (BTS) facility, i.e. warehouses designed and built in accordance with the individual requirements of the recipient.

In order to start the investment as quickly as possible, most developers have "virtual land banks" prepared to start construction works immediately after making the decision. The length of the legislative process for such an investment may vary depending on development scenarios and the scope of public aid.
Renting space in an existing park is the fastest way to start a business. However, in the case of production space, existing warehouses may require additional improvements, which may extend the process by several months, especially if there is a need to obtain a new environmental decision and/or building permit.

A built-to-suit (BTS) investment, i.e. a hall designed and built for a dedicated recipient, and built-to-own (BTO) projects require the most time and patience on the part of the investor. It usually takes about 62-92 weeks from selecting the location to issuing the occupancy permit.
The process of renting a facility that will be built according to the manufacturer's needs (BTS), but is located in an existing park, will take much shorter time, from 33 to 65 weeks. This is because in many cases permits may already be obtained and some of the necessary infrastructure created. In such a case, the investor is only obliged to submit an application to amend existing permits to include the current investment plan.

Unwavering demand and growth dynamics of the warehouse market have created a competitive environment in the development sector. Currently, the leading developers of industrial facilities are large international groups such as Panattoni, Hillwood, 7R, GLP, Exeter, P3, SEGRO, Prologis and MLP, which, among others, They have completed many turnkey industrial projects to their credit.

Dojrzałość polskiego rynku nieruchomości atutem dla zagranicznych inwestorów – wnioski z raportu JLL „Made in Poland”