NO LARGE-SCALE CONTRACTS SIGNED YET
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The Stuttgart warehouse and logistics market (including owner-occupiers) recorded take-up of 59,000 m² in the first half of the year. The federal state’s capital thus surpassed the rather weak result of the previous year by one quarter, but, like most large logistics hubs, missed the ten-year average (-27 %).
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As in the first half of the previous year, letting activity has so far been characterised by smaller contracts, with no deals above the 10,000 m² mark yet being signed. The largest rental agreement to date was concluded by a logistics firm in Talheim for 9,000 m².
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Demand for warehouse and logistics space is currently being dampened somewhat by the weakening economy, meaning that some companies are tending to wait and see how the economy develops and delay their relocation and expansion plans. At the same time, the supply situation remains very limited, particularly in the large-scale, modern hall segment, as there are hardly any suitable plots available for new developments within the market area. The noticeable rise in rents, which is also a result of this, is another reason why more and more tenancy agreements are being extended in existing spaces.
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After gradually rising in 2022 and 2023, the rent level has not changed any further compared to the first quarter and is thus following the nationwide trend of stabilising rents. The prime rent amounts to €8.30 per m² and the average rent at €6.20 per m².