A research produced by
The Frankfurt office market registered a space take-up of 368,200 sq m in 2014, which equates a decrease of approx. 14.5% compared to 2013. The result is significantly below the forecast space take-up of approx. 450,000 sq m. This is caused by the lack of transactions in the high volume office space category above 5,000 sq m. There were only four deals in this category in the Frankfurt office market, with a total of approx. 75,000 sq m: Deutsche Bank (DWS) with approx. 32,000 sq m, Union Investment with approx. 20,500 sq m and Deutsche Bundesbank with approx. 15,400 sq m in the Banking District and KfW with approx. 7,300 sq m in City-West. Again potential transactions in the high volume office space category often lead to lease extensions e.g. Zurich, Deutsche Bank, IBM, Ogilvy & Mather. Therefore at least 165,000 sq m of potential space take-up did not contribute to the transaction volume. In the > 1,000 sq m size category there were 63 leases signed which is more than in the previous year. As in the past years, transactions with less than 1,000 sq m added a large share to the full year result. Knight Frank expects a take-up volume of around 400,000 sq m in 2015.
Source : Knight Frank
