TAKE-UP INCREASES IN THE THIRD QUARTER
The Hamburg warehouse and logistics market (including surrounding areas) achieved a take-up of 340,000 m² in the first three quarters of 2020. This means that the previous year's result was exceeded by 41 %, but falls short of the ten-year average by almost 11 %. After a very weak second quarter, in which the effects of the Corona pandemic were clearly felt and only 38,000 m² were registered, take-up has been picking up again in the course of the third quarter. A significant share of this development was accounted for by a number of large-scale owner-occupier construction starts, most notably Rewe in Henstedt-Ulzburg with 86,500 m², but also Kroop & Co. Transport + Logistik in Neu Wulmstorf (22,500 m²) and the Asklepios Kliniken in Bad Oldesloe (14,500 m²). However, there is still little demand for space from companies associated with the port industry, which is normally one of the main drivers of take-up. The comparatively low demand in this location is currently manifested in a considerable amount of available space in the port area, especially in comparison with previous years.
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