Thus the absolute turnover excluding owner-occupiers and partial office and common areas sums up to 165,000 sq. m after three quarters. Compared to the previous year’s result, only a decrease by 8.7% was recorded (at mid-year it was nearly 30%). “During the summer the logistic market has significantly gained momentum, which was more or less due to single large-scale leases of more than 5,000 sq. m each in the western surrounding area as well as the slight rise in vacant spaces available during the first months of 2013.” explains Tobias Seiler, Research Analyst at Colliers International München GmbH. A total of more than 70 lease contracts have been recorded so far, a slight increase compared to last year’s 3rd quarter.
Due to the good space absorption after the recent quarter, the vacancy rate for the newest space drops to below 1% again. There are still several projects under construction; however, these are already pre-let to a large extent.
The rent prices remain very stable. Prices for newly built modern spaces in the surrounding area reach up to € 6.40/sq. m and slightly jumped to € 8.95/sq. m (2%) for light industrial spaces in the city area. Changes in rent prices are not expected during the next months.
“A number of mid-sized and some large-scale rent enquires are currently on the market, which will be served by the end of the year.” says Marcus Blumenthal, logistic expert at Colliers International Munich, about the current situation. “By the end of the year we expect to see satisfying results from 200,000 to 220,000 sq. m in this sector,” he adds.