STRONG THIRD QUARTER - TAKE-UP INCREASES SIGNIFICANTLY
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After two rather weak quarters in the first half of the year, the Munich logistics market picked up considerably in the third quarter, achieving its second-best quarterly result in the last ten years with 138,000 sqm. Take-up totalled 198,000 sqm in the first nine months, representing an increase of over 72% on the low figure for the same period last year and bringing the market back into line with its long-term average. In a nationwide comparison, Munich is thus on trend with other major logistics markets, the majority of which are seeing a noticeable growth in demand, with the Bavarian market achieving the highest increase compared to the same period last year.
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Two exceptionally large leases for Munich contributed significantly to this high volume. Firstly, specialist distributor of electronic components TTI is leasing around 29,700 sqm of logistics space in Maisach, and secondly, Repa, a company specialising in the sale of spare parts and components for catering equipment, is leasing around 25,300 sqm in Unterschleißheim. Both leases, which were brokered by BNP Paribas Real Estate, will be implemented in new-build properties. In addition, activity has picked up overall, which is reflected in an above-average and significantly higher number of leases than in the previous year. It is encouraging to note that sufficient space was available in the Munich market, which is usually characterised by a shortage of space.
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The prime rent rose slightly in the third quarter to €10.70 per sqm (+2%), and the average rent increased to €9.20 per sqm (+5% compared to Q3 2024).