START OF THE YEAR CHARACTERISED BY SMALL-SCALE LETTINGS
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As in the two previous years, the Stuttgart warehouse and logistics market started the year with moderate take-up. In the first quarter, 25,000 m² were taken up within the market area, which corresponds to a decline of 19% compared to the start of 2024 and deviates from the long-term average by around -38%.
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Market activity to date has been characterised by small-scale lettings of less than 5,000 m², with the largest take-up being the letting of 4,800 m² to a logistics service provider in the southern periphery. The persistently difficult economic conditions are currently leading to rather subdued demand. Particularly in the large-scale warehouse segment, companies are tending to wait and see how things develop and are delaying investments in changes to space.
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A nationwide comparison shows that both the overall market and most of the other major logistics hubs still deviate significantly from their ten-year take-up averages against this backdrop. However, most markets were able to improve on the previous year’s result.
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Meanwhile, the supply on the Stuttgart market is being expanded primarily by existing space that is becoming available and, in some cases, by new space that has not yet been let.
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The prime rent has increased slightly compared to the previous year and now stands at €8.50 per sqm, while the average rent has risen to €6.50 per sqm.