REALOGIS: Stuttgart's logistics real estate market stabilises at a low level – signs of bottoming out

• Take-up stabilises at 113,700 m²
• Prime rents stagnate for the first time since 2020
• Logistics and freight forwarding increase take-up by more than sixfold• Esslingen replaces Ludwigsburg as the region with the highest take-up
• Space up to and including 5,000 m² dominates with 86% take-up share

Stuttgart, 20 January 2026 – The logistics and industrial real estate market in the Stuttgart region recorded take-up of 113,700 m² in 2025 as a whole. REALOGIS Immobilien Deutschland GmbH (REALOGIS), Germany's leading consulting firm for industrial and logistics real estate as well as commercial properties, is thus observing a continuation of the decline of recent years, which, however, is much more moderate than in previous years. Starting from 125,200 m² in the previous year, total take-up fell by 11,500 m² or 9%. While 2022 was the strongest year since records began in 2011 at 316,000 m², 2025 marks the weakest year as a whole. The 5-year average was missed by 47%. The three largest deals by LIDL, Klauss GmbH and a logistics service provider totalled 21,000 m² or 18% of total earnings.

Joel Adam, Managing Director of Realogis Immobilien Stuttgart GmbH, comments: "Demand for space remains selective against the backdrop of the overall economic situation and structural challenges, especially in the automotive industry. But the Stuttgart Region has a high level of industrial competence, distinctive technological know-how and strong innovation structures. These will have a stabilising effect and form the basis for a moderate revival of take-up in the course of 2026."

Rents break upward trend

The prime rent remains stable at €8.50/m², halting the upward trend that has been ongoing since 2020. The average rent is stagnating at €7.00/m². Both figures are 6% and 7% above their respective 5-year averages, respectively. The gap between prime and average rents has remained stable at €1.50/m² for five reporting periods. While the supply of modern space in sought-after locations remains limited, increased construction and financing costs are driving up prices, but restrained demand is preventing further price increases.

Existing space dominates, new buildings with little significance

Deals in existing space remained at the pace with 98,200 m² or 87% of total take-up. In 2025, new buildings reached a total of 15,500 m²,  or 13% of take-up, with the vast majority (12,900 m² or 83%) being former brownfield space. The 9,000 m² deal by LIDL in the Esslingen district accounted for around 70% of the brownfield volume. At 2,600 m² (17%), greenfield contracts played a subordinate role in lettings in new buildings.

Esslingen takes top position in terms of take-up for the first time

With 44,300 m² or 39% of total take-up, the district of Esslingen replaces last year's leader Ludwigsburg. The district of Böblingen follows in second place with 23,500 m² and recorded the highest growth of all regions with an increase in take-up of 17,100 m². Take-up increased by more than 3.5 times compared to the previous year. Ludwigsburg slips to third place with 20,600 m². Due to the lack of major deals, take-up halved again. The fourth-placed district of Göppingen remained unchanged in rank with 13,000 m² or 11%. With 8,700 m², the city of Stuttgart contributes only 8% of total take-up.

Logistics and freight forwarding with high growth; Traditional retail beats e-commerce again

The industry and production sector maintained its top position with 39,500 m² or 35% of total take-up, but recorded a decline of 26% compared to the previous year. The main reason for the decline in take-up was the lack of major take-up, which accounted for around half of the sector's take-up in the previous year.

Retail follows in second place with 27,900 m² or 24% of total take-up. Within retail, traditional brick-and-mortar retail companies clearly dominated with 82% of retail space take-up, compared to e-commerce companies with 18%. While the percentage share ratio of e-commerce to brick-and-mortar retail was still 75% to 25% in 2023 as a whole, the ratio tipped to 61% to 39% as early as 2024.

Third place went to the logistics and freight forwarding sector with 23,900 m² or 21% of total take-up. It was the only industry to record a significant increase of 546%, compensating for around two-thirds of the declines in the other sectors.

Smaller spaces characterise the market In

the size class from 10,001 m², no deals were recorded in 2025. This means that this size class remains without a qualification for the second year in a row. Spaces between 1,000 m² and 3,000 m² took the lead with 45,100 m² or 40% of total take-up, recording an increase of 47% compared to the previous year. The 3,001 m² to 5,000 m² size class follows in second place with 34,000 m² or 30% of total take-up. Together, space under 5,001 m² accounts for a total of 86% of total take-up. In the previous year, it was only 56%.

Key figures at a glance

• Take-up: 113,700 m²
• Prime rent: €8.50/m² | Average rent: €7.00/m²
• Existing areas: 98,200 m² | New building: 15,500 m²
• Tenants: 104,700 m² | Owner-occupier: 9,000 m²

REALOGIS. The No. 1 in industrial and logistics real estate

The REALOGIS Group is Germany's leading address for advising and brokering industrial and logistics real estate as well as commercial properties. As an owner-managed company with locations in Berlin, Düsseldorf, Germany South/North, Frankfurt am Main, Hamburg, Leipzig, Munich and Stuttgart, the company, founded in 2005, has in-depth market knowledge and more than twenty years of experience in the German real estate sector.

Around 70 employees support national and international companies from logistics, industry, trade and e-commerce as well as private and institutional investors. The range of services includes the mediation of tenants for existing and new properties, the support of investors in acquisitions and project developments, advice on the search for or sale of land as well as the development and implementation of holistic real estate strategies, from location analysis to the realisation of assets that are no longer necessary for operation.

Contact Media
Targa Communications Arne DegenerT +49 151 196 933 90E ad@targacommunications.de