At a Glance Q3 2023

Logistics Market Frankfurt

Logistikmarkt Frankfurt BNPPRE
245,000 m²
-16 %
Q3 2023 vs. Q3 2022
-39 %


  • After the first nine months of 2023, a take-up of 245,000 m² was registered on the Frankfurt warehouse and logistics market. Although this result is only around 16 % below the previous year's figure, it is 39 % below the long-term average.
  • This lower result is primarily due to the severe shortage of vacant warehouse and logistics space in the Frankfurt market area. The low availability of space is also reflected in the share of new construction of only 37 %, which is significantly below the long-term average (10-year average: 54 %). As a result, many occupiers are extending their leases so there is just little or no movement in the market. Demand for space remains strong, but many companies are Considering their decisions for longer than in the previous year.  
  • As a result of this excess demand and pressure, both prime and average rents have risen compared with the last quarter and are currently quoted at 7.75 €/m² and 6.50 €/m² respectively.


  • With the Mercedes-Benz deal in Trebur for around 21,000 m², only one large deal was recorded in the third quarter, which is a very low figure by long-term standards. Thus, the large-volume segment above 20,000 m² has so far only contributed 9 % to take-up, which is well below the long-term average of 31 %.
  • While take-up in the small size categories is close to their long-term averages, the two medium size categories (5,000 m²-8,000 m² and 8,000 m²-12,000 m²) have significantly above-average market shares of 20 % and 29 % respectively.    
  • The logistics firms, which have usually dominated strongly in recent years (Ø 10 years: 42 %), still contribute the most to take-up with a third, but significantly less than usual. Wholesale/retail companies, with a strong share of around 29 % on average over many years, also account for only 16 %. By contrast, industrial and manufacturing companies have the highest share of the past 10 years, at 32 %.



  • Despite a change in the economic situation, demand for warehouse and logistics space remains at a high level. Nonetheless, this demand cannot be met by corresponding take-up due to the low level of fluctuation and the shortage of space. Therefore, the overall result for the year is expected to be below the long-term average.
  • Due to the sharp rise in construction costs as well as the more difficult and more expensive procurement of debt capital, a further decline in construction activity, especially speculative activity, is to be expected. This is likely to intensify the supply/demand situation. From today's perspective, the current persistently high inflation, rising key interest rates and a further shortage of building land will lead to further increases in prime and average rents in the short and medium term. Significant further price increases are to be expected, particularly in locations close to cities and freeways.



21,000 m²
Mercedes Benz

17,800 m²
Nagel-Group Logistics

16,000 m²
Müller - Die lila Logistik

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Publisher and Copyright: BNP Paribas Real Estate GmbH | Prepared by: BNP Paribas Real Estate Consult GmbH | Status: 30.09.2023
Further Information: BNP Paribas Real Estate | Branch office Frankfurt | Phone +49 (0)69-298-99-0
Photo credits: Adobe Stock /; Alexander Nasonov