Hamburg is the second largest European seaport with more than 10,000 logistics companies and 330,000 employees in the logistics sector, as well as Europe's No. 1 for the rail transportation of containers. Hamburg Airport, which is close to the city center, is an important transshipment point for express freight for the maritime and aviation industries, among others.
At the start of the year, the Hamburg market for industrial and logistics space was in solid shape, though it fell slightly short of the exceptionally strong results from the previous year. The recorded space turnover of 120,000 m² did not quite reach the high level seen in 2025. Noteworthy is the shift in market structure: owner-occupiers, who had been a dominant force the previous year, played only a minor role in the first quarter. Overall, transaction activity remained subdued, though a single large-volume lease agreement at Prologis Park Hamburg Allermöhe made a significant contribution to total take-up.
At the same time, a cautious revival in demand is emerging. The number of space inquiries is rising, and market activity is slowly regaining momentum. On the supply side, an expanded supply of space is providing more choice, which is leading to an increasing willingness on the part of landlords to negotiate, particularly for existing properties.
Rent trends, however, remain stable: both prime rents and average rents remain unchanged at 8.50 €/m² and 6.50 €/m², respectively.
