Retail space to exceed 13 million sqm by end-2015 – JLL

Retail space to exceed 13 million sqm by end-2015 - JLL

Total retail space will increase by 12 percent by the end of 2015, reaching some 13.2 million sqm, according to data by JLL. The majority of the growth will be seen in Polands eastern regions.

Currently 44 percent of the existing space is located in western and northwestern regions of the country, while another 17 percent is located in the center (Mazowieckie and dzkie voivodships), the report reads.

The most rapid increase in retail space (by 27 percent) is expected is the countrys eastern voivodships, which still has far less retail space than Polands western voivodships. Several large shopping malls have either been completed recently, including Atrium Felicity in Lublin opened in March, or are under construction. Three outlet centers (two in Biaystok and one Lublin) are also in the pipeline.

The increase in retail space will likely be followed by a surge in demand for warehouse space, which is currently scarce in the region (92 percent of all warehouse space is located within five major hubs: Warsaw, Silesia, Central Poland, Pozna and Krakw).

With 24 percent share in demand for warehouse space over the past five years, retail networks are the second largest group of warehouse space tenants in Poland, after logistics operators, said Tomasz Mika, head of industrial agency, at JLLs Poland office.

Poland A.M.

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Retail space to exceed 13 million sqm by end-2015 - JLL