HAMBURG IN 2ND PLACE AMONG THE TOP LOGISTICS MARKETS; TAKE-UP +68 % YEAR-ON-YEAR
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After the first six months of 2025, the Hamburg market for warehouse and logistics space recorded 220,000 sqm of take-up, making it a very good first half of the year. This figure exceeded the result for the same period of the previous year by 68%. It even surpassed the long-term average of 213,000 sqm, a feat matched by only Düsseldorf among other top locations. However, compared to the strong first quarter (125,000 sqm), market activity slowed slightly in the second quarter (95,000 sqm).
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The two largest deals of the first half of the year were the construction of the 34,300 sqm Körber Campus in Bergedorf and the 19,600 sqm Danish logistics service provider ETS & Scan Global Logistics in Neu Wulmstorf. In addition to these two contracts, two others were signed for new properties. Together, these deals account for an exceptional 49% of new construction, well above the 10-year average of 34%. Currently, the proportion of owner-occupiers is also well above the long-term average at 46% (19% average over the last 10 years). Two of the largest contracts, with Körber Technologies and the pharmaceutical logistics company Loxxess Pharma, are attributable to owner-occupiers.
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Compared to the first quarter of 2025, rents have remained constant. While prime rents have moved sideways at €8.50 per sqm since the end of the second quarter of 2024, the average rent has stabilised at €6.50 per sqm after a 10-cent increase in the first quarter of 2025.