Germany - The market in Germany for warehouse space (logistics) was robust in the third quarter. According to Jones Lang LaSalle (JLL), the take-up of floor space by tenants and owner-occupiers amounted to 892,000 m2, 23 percent more than in the previous quarter of 2009.
Of these, 356,000 m2 was located in the Berlin, Dusseldorf, Frankfurt (including
Wiesbaden and Mainz), Hamburg and Munich metropolitan areas, and approximately 536,000 m2 was located outside of these centres.Since the beginning of the year, takeup in Germany has totalled around 2.6 million square metres, compared to approximately 2.7 million square metres from January through September 2008. Compared to last year a significant change is the share taken up by owner-occupiers. From January to September 2008 this was 26 percent, but for
the fi rst nine months of 2009 it increased to 48 percent. Rent revenue has correspondingly decreased and, according to JLL, is 32 percent below that of the previous year. JLL has revised its forecast for total take-up in 2009 up from its July fi gure of 3 million square metres to about 3.5 million square metres.
