Logistics real estate
Logistics real estate seismograph Q2 2016: Moderate new construction momentum
Munich, 26.07.16 - With over 561,970 sqm of newly built logistics space, the second quarter saw significant growth compared to the first quarter with just 454,850 sqm. Compared to the same period of the previous year, however, total new construction activity declined in the first half of 2016: While ground was broken for 1.23 million sqm of space in 2015, 1.07 million sqm of new logistics space was built a year later. The industrial sector remains the largest user group: at currently 44%, the proportion of industrial companies is similar to the previous quarter (58%). This is shown by the current logistics real estate seismograph, which is published quarterly by Munich-based logistics real estate consultant Logivest and the Fraunhofer Working Group for Supply Chain Services.
The top region of Hanover in particular benefited from the rising volume of new construction, with 92,500 sqm, making it the most dynamic region in the second quarter. It was followed by the top region of Rhine-Neckar, which recorded a total of 83,000 sqm of newly built logistics space. In Q2, the eastern Ruhr region was unable to match the high level of new construction activity seen in the first quarter, but remains the most dynamic top logistics region in Germany in the first half of the year. As far as the development of the top logistics regions as a whole is concerned, the proportion of new builds fell from 85% in Q1 to currently 62% within the established logistics locations. The top regions of the Lower Rhine, Rhine-Main, Swabia, Danube and Upper Rhine, which were all still at the top last year, are now showing less momentum in terms of new construction and have so far fallen short of their high figures from the previous year.
New logistics property construction: industry is the strongest user
In terms of the current user structure, the industrial sector currently has an above-average share of 44% compared to 31% in 2015. This shift is primarily at the expense of the retail sector, which currently has a share of 29%. In the second quarter of 2015, this figure was 45%. Logistics service providers remain at a relatively constant level and currently take up 26% of new space compared to 23% in 2015. "The increase in logistics space usage by industrial companies is currently being driven primarily by car manufacturers and suppliers. Around 250,000 sqm of logistics space was created in 2016 for production supply, handling the spare parts business and export logistics," says Kuno Neumeier, Managing Director of Logivest GmbH. red
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