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

Estimated reading time: 6 minutes

In 2024, the Łódź Voivodeship reinforced its position as a key location on Poland’s logistics map. The 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.

In 2024, 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. 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.” 

In line with the nationwide trend, development activity in the Łódź region declined. New supply 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 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. 

Rents 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 Piotrków Trybunalski, while the highest is found in Łódź. 

Hubert Wojtera, 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.” 

About AXI IMMO 

AXI IMMO offers comprehensive advisory services related to commercial real estate, including warehouse and office leasing and property management, real estate valuation, land acquisition, and sales. The firm also offers B2B and B2C supply chain management services. AXI IMMO’s greatest advantage is combining international business standards with deep local market knowledge. AXI IMMO has received numerous awards, including Best Local Agency of the Year in 2012 – 2019, 2021 and 2024 in the CiJ Awards and the award for Best Team in the warehouse sector in 2016 – 2017. In 2019 and 2023, the firm was the winner in the Local Agency category, and in 2024 it was named Advisor of the Year at the CEE Investment Awards. AXI IMMO was named Local Agent of the Year in 2023 and 2024 in the CEE region at the CEEQA awards. The firm’s most recent achievement is the title of Advisor of the Year in the Prime Property Prize 2024.