No new projects were delivered to the St. Petersburg warehouse market in Q1 2017. An increase in total supply by 3% is expected up to the end of this year. The main volume of demand is still formed by logistics and retail companies. The decrease in the volume of new speculative space and stable demand helped to reduce the vacancy rate in Q1 2017 by 2.5 p.p. over the last 12 month. Rental rents are stable and settled at a level of RUB3,600–4,200/sq m/year.