HIGH TAKE-UP DUE TO LARGE DEALS
- With a take-up of 221,000 m² at the end of the third quarter, the Munich warehouse and logistics market achieved a result that is not only 16 % above the previous year's result, but also 8 % above the ten-year average. In a nationwide comparison, Munich is thus one of the few top markets to achieve above-average take-up.
- In addition to brisk market activity overall, two large-scale contracts in particular made a significant contribution to this result. These include the ca. 60,000 m² new building of a logistics firm in Oberding (owner-occupier) and the 30,000 m² expansion of Siemens Mobility at its corporate location in Munich-Allach.
- Due to the low availability of space and the increased construction costs, the already high rents have risen noticeably over the course of the year. The top rent is now quoted at 10.50 €/m², the average rent at 8.50 €/m².
LOGISTICS FIRMS AND INDUSTRIAL COMPANIES STRONG
- The particularly strong competition between the different types of use and the resulting very low supply of land and existing space for warehousing and logistics means that large-scale deals can be realised less frequently on the Munich market than in other major logistics hubs. However, due to the two deals mentioned above, the share of contracts of 20,000 m² or more is currently 41 % and thus far above the ten-year average of 17 %.
- The high proportion of small contracts up to 3,000 m², which account for a good quarter of take-up, is also remarkable. The low shares of the medium size categories, on the other hand, are mainly due to the lack of supply.
- The sector distribution is led by logistics firms (almost 47 %) due to the major contract. However, the otherwise usually leading manufacturing companies also achieve an above-average result with 44 %. Wholesale/retail companies, on the other hand, are very cautious and have so far only accounted for around 3 % of take-up.