The Munich logistics and warehouse premises market got off to a very good start in 2016. At 59,000 m², take-up was nearly 60 % above the prior-year figure and represented the highest firstquarter total since 2010. This fine performance was fuelled not only by generally lively market activity but also by a large lease concluded by mytheresa.com GmbH (around 16,000 m²) and by Rewe's 10,000 m² expansion of its present premises. These developments confirm the observation made in previous quarters that the lower turnovers were not due to any fall in demand but rather to a shortage of supply – after all, almost 50 % of this year's first-quarter take-up comprises units that are still under construction. The volume of existing space is currently simply not enough to meet the buoyant scale of demand.
Source : BNP Paribas Real Estate