VERY CAUTIOUS FIRST QUARTER
The Hamburg logistics market (including the surrounding area) recorded a moderate start to the year in the first quarter. The total registered take-up amounts to only 69,000 m² and is thus around 30 % below the comparable figure of the previous year. The 10-year average was even missed by 40 %. However, there can be no discussion of declining demand. The decisive factor for the rather moderate take-up is the fact that it has not yet been possible to record any major deals. To date, a letting agreement with nutwork Handelsgesellschaft in the Port of Hamburg, at 11,700 m², is the largest one. Overall, almost all market activity in the first three months was concentrated in Hamburg's core area. However, the demand for modern space in the urban area with good connections to the inner-city locations can only be met insufficiently on the supply side. This is reflected in the relatively low quarterly result. At present, this development can not only be observed in the Hanseatic city, but is also transferable to other urban hubs such as Frankfurt, Munich or Cologne.
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