CLEAR UPTICK IN DEMAND AT THE START OF THE YEAR
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Munich’s warehouse and logistics lettings market started 2026 on a dynamic note. By the end of the first quarter, take-up totalled 57,000 sqm. This not only exceeded the prior-year quarter by 73% but also surpassed the ten-year average by 14%.
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What is particularly noteworthy is that, despite ongoing geopolitical and economic uncertainty, a tangible increase in occupier demand was recorded across the market. This is currently most evident in the number of deals registered, which at around 30 is among the highest levels seen over the past ten years. The largest lease signed in Q1 was a 10,000 sqm take-up by a technology company from the defence sector in Schwabing-Freimann.
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Rental levels had already moved up noticeably over the course of last year. Prime logistics rent increased by 7% to €11.25/sqm. In the light industrial segment, as well as for small-scale last-mile units, even higher levels can be observed in individual cases. Average rent also rose by 10% and, at €9.90/sqm, is now only just below the €10 threshold.