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20.01.2025

Frankfurt region: REALOGIS analyses the market for logistics and industrial properties in 2024

  • With 423,300 m² take-up down 8%
  • Brownfield developments with a maximum high
  • Subletting remains a trend
  • Regional ranking 2024: South and East remain the strongest drivers
  • Sector ranking: Logistics/Distribution again in first place, Industry/Manufacturing with renewed growth
  • Ranking of size categories: Larger and large spaces responsible for 55% of take-up
  • Prime rent rises slightly above the 8 euro mark
  • Outlook: Companies cautious / take-up in 2025 dependent on economic situation
Frankfurt, 20 January 2025 - In 2024, all market participants in the Frankfurt am Main region signed contracts for a total of 423,300 m² of logistics and industrial space for rent and owner-occupation. This is the conclusion reached by Realogis, Germany's leading consultancy for industrial and logistics properties and commercial land, in its latest market report.

The current result represents a decline of around 8% or 35,000 m² compared to the previous year (FY 2023: 458,300 m²). Due to the outlier year 2021 with 655,700 m², the 5-year average take-up of 469,460 m² was undercut by 10 %.

More than two thirds of the take-up took place in existing properties. With take-up of 291,600 m² or 69 %, down from 366,700 m² or 80 %, they lost 11 percentage points in proportionate importance and also lost a significant 75,100 m² in absolute terms, which corresponds to a decrease of 20 %.

Space let in new buildings (greenfield sites) totalled 72,400 m² or 17 %, coming in second place with 80,600 m² or 18 % (-8,200 m² or -10 %).

"Third place was taken by contracts for logistics and industrial space on former brownfield sites, which have reached a record level since 2022," reports
Julian Petri, Managing Director of Realogis Immobilien Frankfurt GmbH. Converted brownfields contributed 59,300 m² or 14%, which corresponds to a strong increase of 48,300 m² or more than a five-fold increase on the previous year's figure (FY 2023: 11,000 m²). Notable here is the top deal by the transport company Gebrüder Thomaidis GmbH in Hanau harbour with 11,800 m² and the major deal by MSK Pharmalogistic GmbH for 11,300 m², which contributed a total of 23,100 m² or 39 % of take-up from lettings on former brownfield sites.

Key take-up drivers

Company

Market area

Take-up

Building status

Industry

DHL

Rhine-Main-North

31,000 m²

New building

Logistics/

Distribution

Rolf Benzinger Spedition-Transporte GmbH

Rhine-Main-South

17,000 m²

Existing building

Logistics/

Distribution

GFT Global Foods Trading

Rhine-Main-South

14,000 m²

New building

Retail/Wholesale

WLL Logistics

Rhine-Main-South

12,200 m²

Existing building

Logistics/

Distribution

Gebrüder Thomaidis GmbH

Rhine-Main-East

11,800 m²

Brownfield

Logistics/

Distribution


"The trend towards subletting that began in 2023 continued to consolidate on the Frankfurt market in 2024," says Julian Petri. While subletting accounted for around 12% or 56,700 m² of all space taken up in 2023, this figure had already risen to 17% or 70,300 m² in 2024 (+13,600 m² or +24%).

As in the same period of the previous year, the Frankfurt market is a rental market in the vast majority of deals, accounting for 86% or 364,500 m². "However, owner-occupiers gained a significant 58,800 m² or 14% in 2024, with the top deals by DHL and GFT Global Foods Trading alone contributing three quarters and 45,000 m² respectively," explains Julian Petri.

In terms of property type, big box properties, which were still in first place in 2023, recorded the largest decline and share of all building categories with a total of 131,900 m² or a share of 31 % (-80,000 m² or -38 %). The business park category suffered a less severe decline of 20% or 27,200 m² at 112,200 m² or 27% (FY 2023: 139,400 m² or 31%). Properties that cannot be allocated to big boxes or business parks accounted for the lion's share in 2024 with 179,200 m² or 42 %, an increase of 72,200 m² or 67 % compared to the previous year (FY 2023: 107,000 m² or 23 %).

Regional ranking 2024: South and East continue to drive growth

The South and East regions continue to play a key role in the Frankfurt market and together accounted for more than three out of four square metres of take-up (77% or 328,000 m²). In the previous year, however, the dominance of the two market areas was even higher with a share of 88% or 403,700 m².

Properties from the South region continued to be the most sought-after, with take-up of 232,600 m² or a 55 % share of total take-up, up from 274,700 m² or 60 % in 2023. The 5-year average of 232,200 m² of take-up was almost exactly met. The top deals by Rolf Benzinger Spedition-Transporte GmbH (17,000 m²), GFT Global Foods Trading (14,000 m²) and WLL Logistik (12,200 m²) contributed a total of 43,200 m² or 19 %.

The Rhine-Main-East sub-market was again in second place with 95,400 m² or 23 %, coming from 129,000 m² or 28 % (-33,600 m² or -26 %). The take-up by Gebrüder Thomaidis GmbH accounted for 11,800 m² or 12 % of take-up. The 5-year average of 142,980 m² was undercut by 33 %.

Rhein-Main-North was again in third place with 57,000 m² or 13 %, coming from 17,700 m² or 4 %, the most significant growth of all regions with 39,300 m² or a more than threefold increase, exceeding the 5-year average of 31,420 m² by 81 %. This was largely due to the largest take-up of the year as a whole by DHL of 31,000 m², which accounted for 54 % of take-up in the submarket.

The Frankfurt city area came in fourth with 19,000 m² or 5 %, coming from 7,700 m² or 2 %, the only other increase in take-up apart from the North region, which more than doubled to 11,300 m². However, the 5-year average of 23,740 m² was undercut by 20 %.

The Mainz/Wiesbaden submarket is in penultimate place with 10,500 m² or 2 % (FY 2023: 15,100 m² or 3 %; 5-year average of 14,400 m²: -27 %). Rhine-Main-West is in last place with 8,800 m² or 2% (FY 2023: 14,100 m² or 3%).

Sector ranking: Logistics/Distribution remains the leader
In 2024, there were no changes in the importance of the individual sectors for the Frankfurt industrial and logistics property rental market; all rankings are identical to the previous year.

Logistics/Distribution remained the leader with 159,900 m² or 38 %, followed by 199,300 m² or 44 %. The 5-year average take-up of 189,540 m² was missed by 16 %.

"The strength and stability of the Logistics/Distribution sector as a buyer of space is also reflected in the fact that four of the top five deals in total were signed by companies from this segment," says Julian Petri. They totalled 72,000 m², which corresponds to a share of 45%, meaning that the top deals made a significant contribution to the take-up result.

The Retail/Wholesale sector was again in second place with 112,600 m² or 27%, down from 160,200 m² or 35% (- 47,600 m² or -30%; the 5-year average of 174,760 m² was undercut by 36%). Within the sector, companies from the traditional retail sector led the way with 96,300 m² or 86 % of take-up, an increase of 11 percentage points compared to the previous year (FY 2023: share of 75 % or 120,300 m² in absolute terms). By contrast, companies from the e-commerce sector recorded a decline of 23,600 m² (from 39,900 m² in 2023 to 16,300 m² currently). The top deal by GFT Global Foods Trading contributed 14,000 m² or 12% to total take-up in the retail sector.

"It was an above-average year for the Manufacturing category over the last five years as a whole," reports Julian Petri. At 93,900 m² or 22%, the sector achieved an increase of 10,200 m² or 12% in 2024 (FY 2023: 83,700 m² or 18%). The 5-year average of 63,640 m² was exceeded by 48 % - the highest of all sectors - and rose by 8 percentage points compared to the previous year, in which the average was already exceeded by 40 %.

The "Other" collective category remains in last place with 56,900 m² or a share of 13 %, coming from 15,100 m² or 3 % (+ 41,800 m² or a more than threefold increase, exceeding the 5-year average by 37 %).

Ranking of the size categories: Larger and large spaces responsible for 55 % of take-up
The category of large spaces of 10,001 m² or more is still in first place with 131,800 m² or 31 % (FY 2023: 180,000 m² or 39 %). All top deals fall into this category and account for 65% of take-up.

This is again followed by larger spaces between 5,001 - 10,000 m² with 100,200 m² or 24 %, coming from 116,900 m² or 25 %. The delta compared to the previous year is 16,700 m² or 14 %.

Medium to large spaces between 3,001 - 5,000 m² moved up one place in the ranking, starting from 52,800 m², and at 100,100 m² they are almost on a par with the second-placed size category of spaces between 5,001 and 10,000 m². The most significant increase of 47,300 m² or an increase of 90 % represents almost a doubling. This results in the highest proportionate increase in importance of 12 percentage points.

In fourth place are small to medium-sized spaces between 1,000 and 3,000 m² with 77,300 m² or 18 %, coming from 100,700 m² or 22 % (-23,400 m² or -23 %). Micro-space below 1,000 m² is still in last place with 13,900 m² or 3 %, up from 7,900 m² or 2 %.

Prime rent rises above the EUR 8 mark
The prime rent rose year-on-year to €8.10/m², which represents the new provisional high. The increase is a moderate 2.5%, coming from €7.90/m². The 5-year average of €7.48/m² was exceeded by 8.3%.

Outlook
"Two trends continue to characterise the market: the reluctance to build new speculative properties and the ongoing shortage of space," summarises Julian Petri. "This is likely to result in transaction volumes being below the five-year average in 2025. Subletting could play a decisive role in this issue."

The logistics and industrial property expert explains: "Many companies are currently taking a wait-and-see approach and shying away from strategic investments, partly due to the economic situation. However, this reluctance is unlikely to last in the future, as fundamental decisions need to be made for the supply chain."

 

 

Press contact REALOGIS:
SH/Communication - Agency for Public Relations
Silke Westermann
Tel: +49/211/53 88 3-440
E-Mail:
s.westermann@shcommunication.de

Company contact REALOGIS:
REALOGIS Holding GmbH
Silja Schuppler
Marketing
Leopoldstraße 154, 80804 Munich, Germany

Tel: +49/89/51 55 69 17
E-Mail: s.schuppler@realogis.de

www.realogis.de

 

REALOGIS. The No. 1 for industrial and logistics properties

The REALOGIS Group is Germany's leading address for consulting and brokerage services for industrial and logistics properties and commercial land. Founded in 2005, the owner-managed, healthily grown and crisis-proof group of companies knows the German market like no other. In 2023 Realogis generated 982,232 m² of usable space alone in the letting segment. Net commission income from all services totalled around 19 million euros in the 2023 financial year.

 REALOGIS won the 2021 German Real Estate Award in the "Commercial Player" category. The award recognises companies for their special commitment, creativity, innovative strength and sustainability.

 The group of companies includes eight branches in Berlin, Düsseldorf, Germany South/North, Frankfurt am Main, Hamburg, Leipzig, Munich and Stuttgart.

Around 70 property professionals provide advice and support to national and international companies from the logistics, e-commerce, retail and industrial sectors as well as private and institutional investors. Fast, flexible, regional and customer-orientated.

 The four core competences include finding tenants with strong credit ratings for existing and new properties, supporting investors in property investments and in the development of greenfield and brownfield projects, providing a perfect service for finding or selling properties and developing and implementing holistic property strategies. This covers the entire property cycle - from location analysis and optimisation of expansion targets to the sale of assets that are no longer required for operations.

In short: REALOGIS offers "More space for your success" in every respect.

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