AXI IMMO MAGAZINE – Report – Industrial & Logistics Market in Poland 2025, February 2026, discover the latest insights into Poland’s industrial and logistics market, published by AXI IMMO. As the largest Polish commercial real estate consulting firm, AXI IMMO’s Research Department experts provides valuable data and trends shaping the logistics and industrial real estate sector in Poland. Stay ahead in the commercial property market with this essential resource, releasing in February 2026.

Download report [EN]
Raport w języku polskim dostępny jest tutaj

Estimated reading time: 8 minutes

Poland’s Industrial & Logistics Market 2025 – Maturity

According to the latest report by AXI IMMO, Poland’s largest commercial real estate advisory firm, titled “Industrial & Logistics Market in Poland 2025”, the industrial and logistics sector maintained a strong position despite a moderate slowdown in the first half of the year. Total stock of industrial and logistics space reached 36.58 million sqm at the end of 2025, while new supply declined to 1.68 million sqm. Gross take-up increased to 6.64 million sqm, marking the third-highest result in the market’s history, and the vacancy rate remained stable at 7.4%. On the investment market, the industrial and logistics sector recorded the second-largest transaction volume among commercial real estate sectors, reaching EUR 1.5 billion.

 Expert’s comment – Monika Rykowska, Head of Research, AXI IMMO

Monika Rykowska AXI IMMO

“The industrial and logistics sector is entering a phase of greater selectivity. We are observing a continued high share of lease renegotiations in the take up structure, tighter control of speculative supply and investment concentration in the most liquid regions — Mazowsze, Śląsk and the Łódzkie region.

At the same time, the importance of cross-border hubs and port locations such as Tricity and Szczecin is increasing, supported by transport infrastructure development.

In 2026, the key growth drivers will be an improvement in European industrial performance and domestic consumption.” 

Monika Rykowska, Head of Research Department,
AXI IMMO

Take-up: Third-Highest Result in Market History

In 2025, total leasing activity in the industrial and logistics market reached 6.64 million sqm (+14% y/y). Renegotiations reached a record 3.46 million sqm, accounting for 52% of total take-up (+10 pp y/y). The highest tenant activity was recorded in the Mazowieckie (1.41 million sqm), Łódzkie (1.17 million sqm) and Śląskie (1.07 million sqm) regions. Net take-up totalled 3.18 million sqm (-6% y/y), with the leading markets being Mazowieckie (729,000 sqm), Łódzkie (475,000 sqm) and Dolnośląskie (464,000 sqm). Selected major transactions in 2025 included the extension and expansion of Agata Meble at Mapletree Piotrków II (128,200 sqm in total), ID Logistics’ lease renewal for 78,100 sqm at P3 Wrocław II, a new lease of 67,800 sqm by a 3PL operator at 7R Park Gdańsk III, and Schaeffler’s new 63,400 sqm lease at Prologis Park Ujazd.

Expert’s comment – Anna Głowacz, Head of Industrial, AXI IMMO

“The take-up structure in 2025 confirms the growing maturity of the Polish market. Renegotiations of five-year leases signed in 2021–2022 became the dominant component of tenant activity.

In 2026, new demand will result from both sector-specific expansions and the need to consolidate or relocate space to optimise operating costs.

We are observing increased activity among retail, e-commerce and distribution companies, alongside a moderate recovery in demand from logistics operators.” 

Anna Głowacz, Head of Industrial Department,
AXI IMMO
Anna Głowacz AXI IMMO

Supply: Lowest Level Since 2016

Total stock of industrial and logistics space reached 36.58 million sqm at the end of December 2025 (+6% y/y). However, new supply declined to 1.68 million sqm (-35% y/y), marking the lowest annual result since 2016. Among the largest newly delivered projects were P3 Wrocław (95,000 sqm) in the Dolnośląskie region and Hillwood Poznań-Czempiń (53,700 sqm) in Wielkopolskie. Outside the so-called “big five” markets, notable projects included 7R Park Lublin (57,500 sqm) in Lubelskie and Panattoni Park Szczecin-Dunikowo (54,400 sqm) in Zachodniopomorskie.

The development pipeline stands at 1.79 million sqm (+2% y/y), with a significant reduction in speculative projects to 38.6% (690,000 sqm; -8.6 pp y/y). The highest level of development activity is currently concentrated in Mazowieckie (648,000 sqm), Pomorskie (221,000 sqm) and Śląskie (192,000 sqm). Developers are increasingly conditioning new projects on securing 40–50% pre-lease commitments.

The vacancy rate at the end of 2025 stood at 7.4% (-0.1 pp y/y). The lowest vacancy rates were recorded in Zachodniopomorskie (1.2%) and Małopolskie (2.6%), while the largest vacancy increase was recorded in Śląskie (+2.3 pp y/y). Headline rents in big-box projects remained within the range of EUR 3.6–6.0 per sqm per month, with effective rents at EUR 3.0–4.5 per sqm per month. Competition increasingly shifted toward incentive packages, typically offering one to two months of rent-free periods per lease year.

Investment Market: EUR 1.5 Billion and Strong Sale and Leaseback Activity

Total investment volume in the industrial and logistics sector reached EUR 1.5 billion (+15% y/y), representing 34% of total investment activity in Poland and the second-largest share among commercial real estate sectors. Single-asset transactions and sale and leaseback deals dominated the market. Investors from the United States and the Czech Republic played a particularly active role in 2025.

Expert’s comment – Grzegorz Chmielak, Head of Capital Markets, AXI IMMO

“The industrial and logistics sector continues to be one of the most stable segments of the investment market.

In 2025, we observed a clear increase in sale and leaseback transactions, reflecting manufacturers’ need to release capital.

In 2026, we expect further liquidity improvement and a slight compression of cap rates for prime assets secured by long-term leases” 

Grzegorz Chmielak, Head of Capital Markets Department,
AXI IMMO
Grzegorz Chmielak AXI IMMO

Outlook for 2026

AXI IMMO analysts expect stable levels of new supply, a gradual decline in vacancy rates and selective rental growth in prime locations. Renegotiations will remain the dominant element of the take-up structure, while new developments will largely be linked to expansions and space consolidation.

 Expert’s comment – Renata Osiecka, Owner, Managing Partner, AXI IMMO

Renata Osiecka AXI IMMO

“The industrial and logistics sector is entering a phase of greater selectivity. We are observing a continued high share of lease renegotiations in the take up structure, tighter control of speculative supply and investment concentration in the most liquid regions — Mazowsze, Śląsk and the Łódzkie region.

At the same time, the importance of cross-border hubs and port locations such as Tricity and Szczecin is increasing, supported by transport infrastructure development.

In 2026, the key growth drivers will be an improvement in European industrial performance and domestic consumption.” 

Renata Osiecka, Owner, Managing Partner,
AXI IMMO

About AXI IMMO

AXI IMMO is the largest Polish commercial real estate advisory firm, providing services in leasing and investment transactions, industrial & logistics and office property management, property valuation, as well as the acquisition and disposal of development land. AXI IMMO’s key strength lies in combining international service standards with in-depth knowledge of local markets. The company has received numerous international and domestic awards, including Advisor of the Year and Local Advisor of the Year titles from organisations such as CEEQA, CEE Investment Awards, CIJ Awards and Prime Property Prize. Most recently, in 2025, AXI IMMO was awarded the title of Warehouse Agency Team of the Year by the Eurobuild Awards jury.

The AXI IMMO’s Research Department team conducts regular market analyses and provides reports and publications on the commercial real estate market.

You might be interested in:

Fill out the form to download the full “Industrial & Logistics Market in Poland 2025” report and gain valuable insights.