TAKE-UP AT AVERAGE LEVEL
- Stuttgart's warehouse and logistics market achieved a take-up of 195,000 m² in 2023, which matches the ten-year average. Compared to the exceptional record result from the previous year, however, this represents a decline of 39 %.
- Against the backdrop of the tense economic situation, a certain reluctance regarding the occupiers was noticeable, but there is nevertheless still solid demand in all segments.
- The largest letting was TK Elevator (28,500 m²) in Esslingen. In addition, the owner-occupier expansion of Breuninger in Sachsenheim by 40,000 m² made a significant contribution to the overall take-up.
- The supply situation remains tense, particularly in the modern new-build segment, and the low level of speculative construction activity in the current economic environment means that no change is expected here in the medium term.
- Rents rose by 5 % over the course of the year to a prime rent of 8.20 EUR/m² and by 4 % to an average of 6.15 EUR/m².
MANUFACTURING COMPANIES WITH HIGHEST DEMANDS
- The distribution of take-up by size category shows a comparatively homogeneous picture, which reflects the broad demand base across all segments.
- Although the two large contracts mentioned above once again account for the highest share of take-up of 20,000 m² and above, their contribution of 35 % remains at a significantly lower level than in the previous year. All other segments account for shares of between 11 % and 16 % and are therefore very close to each other.
- In terms of sector distribution, on the other hand, manufacturing companies are clearly in the lead and, with 41 %, reflect the high importance of this economic sector on the logistics market Stuttgart. Like in the nationwide, demand from wholesale/retail was rather subdued, meaning that they took second place despite the Breuninger deal, at around 34 %.
- Logistics firms also only achieved a relatively low level at 14.5 %.