MANY DEALS, BUT THE BIG ONES ARE STILL MISSING
Take-up in the entire market area totalled 234,000 m² in the first half of the year. Compared to the previous year, this is a drop of a good 28%. The ten-year average was even missed by a third. This result, which seems weak at first glance, is somewhat put into perspective when the structure of take-up is taken into account. The main reason for the noticeable decline is that hardly any major leases have been concluded so far. In the first half of the year, only one contract for 10,000 m² was reported. In contrast, demand in the small and medium-sized market segments was quite lively, especially against the background that several months were still marked by the lockdown. The number of contracts concluded was over 280, almost 10% higher than in the same period last year, and take-up of space up to 10,000 m² also exceeded the previous year's figure. The most important deals include a lease by Wacker Chemie AG for a good 14,000 m² in the Werksviertel as well as a deal by TÜV Süd for around 8,000 m², which was concluded just like a contract by the City of Munich for 7,800 m² in the Municipal Area West.