HIGHEST TAKE-UP OF THE TOP LOCATIONS
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The Frankfurt warehouse and logistics market recorded take-up of around 304,000 m² in the first nine months of 2024. Although the result is 24% below the long-term average (Ø 10 years: 400,000 m²), it exceeds the relatively weak result from the same period last year by 24%.
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While Frankfurt is also unable to resist the overall combination of a weak economic phase and the predominantly existing supply bottlenecks, the metropolis on the Main nevertheless remains at the front of the top markets in a nationwide comparison and is well ahead of Berlin (216,000 m²) and Cologne (204,000 m²).
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After a rather subdued start to the year, market momentum picked up noticeably with quarterly take-up of over 100,000 m² in each case. Following a wait-and-see attitude with a tendency to extend leases, the number of market enquiries and requests for space has now increased significantly. In addition, the activity of owner-occupiers has risen noticeably again, with their share of take-up growing to 40% (Q1-Q3 2023: 9%). It is also worth noting that the only reason that take-up is currently below the ten-year average is the lack of further large-scale deals for more than 20,000 m².
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The rent level did not change further in the third quarter. The average rent has remained constant at €6.70 per m² since the end of 2023 and the prime rent only rose marginally by 1% to €7.95 per m² between the first and second quarters.