SLOW START FOR THE SECOND YEAR IN A ROW
The Cologne market for warehouse and logistics space started the year with a weak result. As in the previous year, a take-up of only 22,000 m² was registered at the end of the first quarter, which is still equivalent to the lowest opening figure for the year ever. The long-term average was also undercut by a whopping 49%. However, with ten registered deals, twice as many contracts were registered as in the previous year, which is clear evidence that there was a certain market dynamic in the reporting period. The only thing that was missing for a better result were larger deals, which is mainly due to the lack of adequate premises. Against this backdrop, it would be premature to draw conclusions about possible cutbacks due to the corona crisis. Since the majority of the contracts concluded are negotiated with a considerable preparation period, the effects of the social and economic lockdown that has been in effect since mid-March cannot yet be identified in terms of take-up. It can be assumed that this will only be the case from the second quarter onwards.
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