FRANKFURT OFFICE MARKET STAYS ON COURSE
The upward trend of the first half year continued in the third quarter. After the first nine months, take-up in the entire Frankfurt market area totaled 362,000 m², of which 304,000 m² was attributable to the more narrowly defined gif area. The result exceeds the long-term average by just under 1%. Compared with the previous year, a 10% increase in take-up was registered. A direct quarter-on-quarter comparison also exhibit a significant increase of 14%. In Q3, take-up of 120,000 m² was achieved (Q2: 105,000 m²), including the letting of around 18,600 m² by a banking and financial services provider in the so-called Executive Building of the Silberturm (Gallusanlage 8). In total, three major contracts have been concluded so far this year, generating a total of around 16% of take-up (around 57,000 m²) and being largely responsible for the year-on-year growth in take-up. Overall, letting activity is currently quite vibrant in all size categories.