INDUSTRIAL REAL ESTATE MARKET Q1/2025

In the first quarter of 2025, we revised our methodology for "A" standard industrial space. As a result, the total area has fallen from 12,436,375 sq m at the end of 2024 to 12,013,842 sqm as some older buildings no longer meet current market standards. Including shell & core space, the total area is 12,574,676 sq m.

We continue to see interest from companies in the automotive, consumer goods and wholesale.

Slight increase in rental prices in selected regions - The shift occurred at both the lower and upper boundaries.

The vacancy rate for completed space fell to 3.84%, equivalent to 461 188 sq m.

Net take-up reached 173 531 sq m, while gross take-up was 480 624 sq m. In Q1 2025, the performance of the logistics, manufacturing and wholesale segments in terms of net take-up was approximately balanced.

"At the beginning of the year, we saw a significant shift in US foreign policy. Although it is impossible to predict the long-term impact on all aspects of trade relations with Europe, a change in the EU's approach can already be observed. Brussels will largely seek to reduce its dependence on US allies, particularly on defence issues, which will also revitalise European arms companies and other downstream industries, even if only remotely defence-related."