CORONA ENSURES VERY WEAK HALF-YEAR RESULT
The Cologne market for warehouse and logistics space has traditionally not been one of the highest take-up markets in Germany due to its small-scale structure and the high proportion of existing space. However, a half-year result of 49,000 m² is a new negative record even for this metropolis. The already weak result of the previous year was undercut by around 14% and the long-term average was even missed by 49%. As a result of the social and economic lockdown in the wake of the Corona pandemic, many companies had to switch to a crisis mode and temporarily put their investment and expansion plans on hold. The long-term shortage of supply was thus compounded by a temporary decline in demand, which additionally caused the market to lose its momentum in the second quarter. The few market activities focused primarily on smaller spaces, with a particular interest in capacities available at short notice. However, in the course of the stepwise easing and economic recovery, a revival of the market on the demand side could already be possible in the next weeks.
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