Report: Central Poland Industrial Snapshot – Analysis of the industrial and logistics real estate market in Central Poland, AXI IMMO publication

AXI IMMO, the largest Polish commercial real estate advisory firm, presents its market analysis in the special publication “Central Poland Industrial Snapshot”.

Estimated reading time: 8 minutes

In 2024, the Łódź Voivodeship reinforced its position as a key location on Poland’s logistics map. The Łódź region recorded a historic high in industrial and logistics leasing activity, reaching 1 million sq m, marking a 61% year-on-year increase. Despite a decline in new supply and a slowdown in development activity, the Łódź region remains the first-choice market for central operations of the country’s leading retail and distribution companies. Stable rental rates, the availability of large units, and favourable geographic locations ensure that the region maintains its position as one of Poland’s most competitive and mature industrial markets.

Industrial and logistics real estate market Central Poland

In 2024, the warehouse market in the Łódź region experienced its highest level of tenant activity to date. Gross take-up totalled 1 million sq m, with net take-up reaching 495,000 sq m – increases of 61% and 56% year-on-year, respectively. Notably, over half of the transactions involved lease renewals, reflecting the market’s maturity and companies’ strong commitment to the location.

Among all transactions in 2024, the retail sector led tenant activity, overtaking the previously dominant logistics (3PL) operators. Retail chains accounted for 37% of gross and 58% of net take-up. According to AXI IMMO analysts, this shift is driven by changes in supply chain management, with retailers increasingly opting to manage their logistics operations in central Poland. This strategy allows for internal control of distribution processes, greater responsiveness to consumer needs and changing market conditions.

“Compared to other regions in Poland, the Łódź industrial market stands out in terms of transaction scale. Last year, of the 75 recorded lease agreements, 75% involved spaces exceeding 10,000 sq m.“

Hubert Wojtera, Director, Industrial & Logistics, AXI IMMO

Key transactions included a 105,700 sq m lease renewal and expansion by an e-commerce client at Hillwood Stryków II, a 72,000 sq m lease renewal by a retail client at Central European Logistics Hub, and a new 62,000 sq m lease at Hillwood Łódź II (Chocianowice). 

Hubert Wojtera, Director, Industrial & Logistics, AXI IMMO, notes:

“Compared to other regions in Poland, the Łódź industrial market stands out in terms of transaction scale. Last year, of the 75 recorded lease agreements, 75% involved spaces exceeding 10,000 sq m. This unusually high average lease size is rare across other markets and confirms the region’s role as the primary hub for central warehouse operations of major companies operating in Poland. The largest leases are now being signed not only in Stryków – traditionally the region’s central warehouse cluster – but also in Zgierz, south of Łódź near Tuszyn, and to the east at the Nowosolna Junction”.

Industrial and logistics developers activity in the Łódź region

In line with the nationwide trend, development activity in the Łódź region declined. New supply on the warehouse market in Łódź region in 2024 amounted to 343,000 sq m (-17% y/y), while the pipeline under construction fell to 232,000 sq m (-42% y/y). Nevertheless, the region remains one of the top markets in terms of the number of projects. Among the largest completions were Hillwood Park Zgierz II (nearly 77,000 sq m) and MDC2 Park Łódź South (52,000 sq m).

By the end of 2024, the Łódź region’s total modern industrial and logistics stock reached 4.9 million sq m. It is also worth noting that 51% of the space under construction was speculative, exceeding the national average and indicating developers’ continued confidence in the market’s potential.

The vacancy rate stood at 9.7% at the end of 2024 – the highest among Poland’s five major industrial markets. In absolute terms, approximately 475,000 sq m was available for lease, primarily in large units over 10,000 sq m. 

How much does it cost to rent warehouse space in the industrial and logistics real estate market in Central Poland

Rental rates for warehouse space in the Łódź Voivodeship remain stable, ranging from EUR 3.60 to EUR 4.60 per sq m per month.

The lowest rents are available in warehouses in Piotrków Trybunalski, while the highest is found in warehouses in Łódź. 

Expert commentary

Hubert Wojtera
Director, Industrial & Logistics, AXI IMMO, sums up

2025 is expected to be a period of stabilisation. We anticipate continuing of the lease renegotiation trend, although the expected improvement in economic conditions may result in increased expansion activity.

Developers will assess locations and projects more cautiously, but are unlikely to abandon speculative investments in the region’s key areas.

Download publication “Central Poland Industrial Snapshot”