The Łódź Voivodeship recorded historically high leasing activity in the industrial and logistics property sector in 2024, with total take-up reaching 1 million square metres, according to AXI IMMO’s latest publication, Central Poland Industrial Snapshot. This represents a 61% increase year-on-year, despite a decline in new supply and a slowdown in construction activity. Net take-up in the region reached 495,000 square metres, a 56% increase compared to 2023. Over half of all transactions were lease renewals, indicating long-term commitments by tenants and reflecting the market’s maturity. Retail companies led leasing activity, surpassing logistics providers (3PLs), and accounted for 37% of gross take-up and 58% of net take-up. The shift is attributed to retail chains increasingly internalising logistics operations to improve control and responsiveness. Significant transactions included a 105,700 sqm renewal and expansion by an e-commerce company at Hillwood Stryków II, a 72,000 sqm renewal by a retail client at the Central European Logistics Hub, and a new 62,000 sqm lease at Hillwood Łódź II in Chocianowice. Hubert Wojtera, Director of Industrial & Logistics at AXI IMMO, highlighted the large scale of transactions in the region. Of the 75 lease agreements signed last year, 75% were for spaces larger than 10,000 sqm. Leasing activity extended beyond Stryków into areas such as Zgierz, Tuszyn, and Nowosolna. New supply in 2024 totalled 343,000 sqm, down 17% year-on-year. Projects under construction fell to 232,000 sqm, a 42% decline. Despite this, the region remains one of Poland’s most active markets. Major completions included Hillwood Park Zgierz II (77,000 sqm) and MDC2 Park Łódź South (52,000 sqm). By year-end, the region’s modern industrial and logistics space reached 4.9 million sqm. About 51% of the space under construction was speculative, above the national average. The vacancy rate stood at 9.7%, the highest among Poland’s five largest industrial regions. Approximately 475,000 sqm of space was available for lease, mostly in large units over 10,000 sqm. Rental rates in the Łódź Voivodeship remained stable in 2024, ranging from EUR 3.60 to EUR 4.60 per sqm per month. The lowest rates were seen in Piotrków Trybunalski, and the highest in Łódź. Wojtera expects 2025 to bring stabilisation in the market, with continued renegotiation of leases and potentially more expansion activity if economic conditions improve. He added that while developers may be more selective with locations and projects, speculative construction in strategic areas is likely to continue.