In 2023, the Polish warehouse market experienced a period of dynamic changes that set new directions for development and challenges for the industry. In the REDD Report: Warehouses 2023 Summary /2024 Outlook, we present how the market situation evolved in 2023 and forecast the changes that 2024 will bring. We sought comments on the most important changes and upcoming trends from experts in the commercial real estate market. Below is a statement from one of them.

Michał Ptaszyński, Country Manager, Logicor Poland:

The past year was busy and successful for us – we are happy with the continued interest in our properties. Thanks to a team of only 15 people in Poland’s Logicor office, we signed 51 lease agreements for nearly 400,000 square metres. From quarter to quarter, an upward trend was visible—we achieved better and better results: from 65,300 square metres in the first quarter to 141,600 square metres in the fourth. May this be a symptom of lasting recovery.

However, customers are still cautious, and their decision-making process takes longer. That’s not only because of high inflation but also because of the geopolitical situation affecting the global supply chain. Hence the phenomenon called nearshoring, where production and assembly lines are increasingly moving to the nearest sales markets. Due to its geographical location and relatively low barriers to market entry, Poland can benefit from this trend.

The risk of breaking supply chains also raises concerns, so companies prefer to stock up increasingly and adequately decide whether to expand the existing logistics infrastructure or make new investments. This is an opportunity for companies like ours.

A new clear trend accompanies the phenomena mentioned above: the increasing role of modern technologies, particularly artificial intelligence (AI) and big data. For logistics property managers, this primarily means optimization. Automation and immediate analysis of vast data result in better customer service.

Another trend, the importance of which will continue to grow, is the implementation of ESG strategies by companies and the environmental obligations included in them. In our case, achieving zero CO2 emissions by 2050 and reducing the carbon footprint by 36% by 2030. As part of sustainable development, one of our actions is modernizing lighting with environmentally friendly LED installations. In Europe, in 2023, LED modernizations covered an area of 750,000 square metres; for 2024, we plan one million square metres, which is a size exceeding 142 football pitches. In Poland, last year, we replaced lighting in an area of approximately 170,000 square metres, which gives energy savings of 58% annually.

After a successful 2023, we expect this year to be even better. We intend to launch new projects. We plan new warehouse investments in the Mysłowice and Święcice II logistics parks. These facilities have an area of over 20,000 square metres, combining the latest solutions in sustainable construction with modern design. We are also talking to our customers about expansions.

The original comment appeared in the REDD Report: Warehouses 2023 Summary /2024 Outlook. The full report is available for download through the form below.