A total of 324,000 m[sup]2[/sup] storage and logistic space was transacted in Frankfurt and the surrounding region in 2009, according to an analysis released by independent real estate consulting group NAI apollo. Compared to the turnover of the previous year this amounts to a decline of about 19% but it is still ahead of NAI apollo's original estimate of 300,000 m[sup]2[/sup].
A total of 324,000 m2 storage and logistic space was transacted in Frankfurt and the surrounding region in 2009, according to an analysis released by independent real estate consulting group NAI apollo. Compared to the turnover of the previous year this amounts to a decline of about 19% but it is still ahead of NAI apollo's original estimate of 300,000 m2.
Michael Weyrauch, head of Industrial Letting and partner of NAI apollo, said the letting performance of spaces between 1,500 m2 and 3,000 m2 decreased by over 50% in 2009. Demand for spaces between 3,000 m2 and 5,000 m2 decreased by 10% in 2009 compared to the previous year. Assets with up to 1,500 m2 of space performed the best and recorded a 3% increase in letting performance.
'Just like in the previous year, the lettings of existing properties were crucial for the turnover of space in 2009, says Weyrauch. The largest deals included the letting to Sony in Heusenstamm of 12,500 m2, the VW lease of 12,000 m2 in Dreieich, and the Mühle leasing of 12,000 m2 in Groß-Ostheim.
A total of seven deals involving over 10,000 m2 were transacted in the sub-segment during 2009, of which only two conclusions were in the project development sector.
NAI apollo said it supported and mediated 26% of all contract conclusions and is assigned with the marketing of all important existing logistic spaces as well as new project developments in the Rhine-Main area.