SO FAR NO LARGE DEALS
- The Stuttgart market for warehouse and logistics space achieved a take-up of 47,000 m² in the first half of 2023. After the record result from the previous year (155,000 m²), the market generated a relatively weak result in the middle of the year, which is 41 % below the ten-year average. In addition to the changed macroeconomic conditions, the insufficient supply also plays an important role in this development.
- Against this background, no large-scale contracts have been recorded to date. The largest deals comprise two contracts in new developments: firstly, Dachser rented around 11,300 m² in Rottenburg, and secondly, a manufacturing company around 7,000 m² in Korntal-Münchingen.
- As in most other top logistics markets, the rental level has continued to rise over the past twelve months. The prime rent has increased by 14 % to 8.10 €/m², the average rent by 11 % to 6.10 €/m².
MANUFACTURING STRONG AS USUAL
- The distribution of take-up by size category illustrates the differences compared to the same period last year. While by mid-2022 more than two thirds of the result was achieved in the space segments of 12,000 m² and above, these categories have not yet been occupied at all. Currently, contracts from 5,000 to 8,000 m² contribute more than half of the take-up with 55 %, while a further 24 % is accounted for by the 8,000 to 12,000 m² class.
- The strong industrial base of Stuttgart's economy is regularly reflected in the logistics figures. Accordingly, the manufacturing segment is also currently contributing the main share to take-up in the sector distribution with almost 58 %. Supported by the Dachser deal in Rottenburg, logistics firms account for 28 %. By contrast, contracts from wholesale/retail companies have not yet been recorded in the market area.
- Owner-occupiers have also not yet become active, whereas the share of new construction is at a comparatively high level of around 53 %.