STUTTGART - ATTRACTIVE LOCATION FOR INNOVITION - The 2018/2019 Stuttgart office market report - German Property Partners
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ST UT TGART – AT T RAC T I VE LOC ATI O N FO R I N N OV I TI O N
The 2018/2019 Stuttgart office market report
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06 07
Alte Bahndirektion
Look 21
Büro + Wohnen
Office + Residential Büro 43.000 m²
Office 21 000 m² Fertigstellung 2025
100 % take-up
Complection Q1/2019
Lautenschlager Areal II
Office + Retail + Residential
K32
Office 1 600 m² Office + Hotel
100 % take-up Office 13 000 m²
Complection Q2/2020 100 % take-up
Complection Q3/2019
THEO 9
Office + Retail
Office 3 400 m²
100 % take-up Eberhardstraße 65
Complection Q1/2018
Königstraße 29 Office + Retail + Residential
Office 760 m²
Office 1 100 m²
Complection Q2/2021
100 % take-up
Complection Q1/2019
Stiftstraße 3
Calwer Passage Office + Retail
Office + Retail + Residential Office 700 m²
Office 11 300 m² 100 % take-up
100 % take-up Complection Q1/2019
Complection Q4/2020 Königstraße 41
Office + Retail
Office 750 m²
Complection 2020/2021
Eberhardhöfe
Office + Retail + Residential
Office 4 000 m²
100 % take-up
Complection Q1/2019
Source: Research E & G Real Estate GmbH ©, Stand: 31.12.2018
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An overview of the CONTENTS
Stuttgart office market
D E V E LO PM E N TS I N 2018/2019 ST U T TG A RT I N D E TA I L
Volume Representative Average central Vacancies Vacancies Total space in Completion Pre-let volume
YEAR in m² prime rents business in m2 in % million m2 volume in m2 in m2
per m2 district rents
per m2
06 14 23
Foreword Demand continues to be strongest Stuttgart central business district/city centre –
2003 149 000 17.50 € 14.50 € 379 000 5.30 6.973 145 000 80 000
The City of Stuttgart and from industrial companies Locations experiencing shortages
E & G Real Estate
2004 152 000 17.00 € 14.50 € 415 000 5.70 7.102 129 000 93 500
15 24
2005 145 000 17.00 € 13.50 € 402 000 5.60 7.170 68 500 51 400 08 Number of contracts concluded Northern Stuttgart –
Developments in continues to decline Supply of offices virtually exhausted
2006 140 000 17.50 € 13.60 € 467 400 6.50 7.222* 52 500 20 500 2018/2019
16 26
2007 169 000 17.50 € 14.50 € 466 000 6.40 7.253 32 600 23 400 09 Prime rents falling due to Eastern Stuttgart –
Ready for the future lack of newly constructed space A transformation is taking place
2008 180 000 18.00 € 14.50 € 460 000 6.20 7.367 117 000 116 000
10 19 28
2009 171 000 18.00 € 13.60 € 453 000 6.12 7.401 40 000 22 000
Changes in the urban landscape Limited offering Southern Stuttgart –
2010 194 000 17.50 € 14.30 € 480 000 6.46 7.425 42 400 22 400 thanks to innovative district for office users Dynamic development in some areas
development
2011 285 000 18.80 € 14.30 € 424 000 5.70 7.449 45 900 41 200 20
12 Solid take-up in 31
2012 191 500 20.00 € 14.50 € 399 000 5.40 7.416 37 000 36 300
Declining take-up the Top 7 locations The Stuttgart office market –
No major transactions Take-up in 2018
2013 258 000 20.00 € 14.40 € 365 000 4.87 7.496 81 200 62 700
2014 278 000 21.50 € 15.30 € 325 000 4.30 7.536 72 500 91 500
P R O S P E C TS F O R 2019
2015 290 000 22.80 € 15.90 € 270 000 3.54 7.632 74 900 62 100
32 33
2016 432 000 23.00 € 16.20 € 220 000 2.80 7.728 149 200 119 300
Prospects for Prospects for 2019:
2019 A challenging year
2017 270 000 24.30 € 18.50 € 167 000 2.10 7.853 128 600 110 500
2018 218 000 23.00 € 18.20 € 186 000 2.30 7.946 92 800 64 300
YO U R C O N TAC TS
* Data from a survey by BulwienGesa AG + Baasner, Möller & Langwald GmbH Source: Research E & G Real Estate GmbH ©, Stand: 31.12.2018
34
E & G R E A L E STAT E A N D G P P
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FOREWORD
T H E C I T Y O F ST U T TG A RT A N D E &G R E A L E STAT E
Stuttgart is a strong location for companies Innovative power
Its economy is set for success continues unbroken
Stuttgart is booming! The number of new residents is growing; the city is becoming ever younger and any many people view Stuttgart’s businesspeople and citizens enjoy innovation, demonstrating an interest in future-oriented solutions which
it and the surrounding region as travel destinations. In addition to this, the economy is currently prospering. Stuttgart comes others struggle to match. Two prestigious undertakings are good examples of this mindset. The ARENA2036 project has
into its own when the task is to offer a good work-life balance. The city is recognized for its good jobs and the excellent been initiated to carry out research into the wide-ranging field of mobility; developing new production companies in the
salaries which employees earn. Swabians are, however, not just hard workers but also know how to enjoy themselves. We automotive industry and shaping technological change. It is located on the campus of Stuttgart University and funded by
are thus particularly proud of the fact that Stuttgart has been named “Germany’s City of Culture” for the fourth time in a row. numerous respected companies and research institutions in the city and regional state. Meanwhile, the central question
posed by the 2027 IBA StadtRegion Stuttgart international architecture exhibition is “How will we live and work in the
The world has become faster moving. So we cannot, and do not wish to, take our current success story for granted. Stuttgart 21st century?” Focuses include the development of buildings which are precisely tailored to meet users’ living and working
wants to continue to offer space for innovation. In recognition of this, the city’s government is supporting diversification of requirements; creation of vibrant districts and support for infrastructure measures. By the way, on the subject of vibrant
the economy to ensure that we are equipped to face the future. The creative economy is thus receiving active assistance, as districts – just how much innovative urban developments have changed the face of Stuttgart in recent years can be seen
is the healthcare sector in the form of major construction projects at Stuttgart Medical Centre. The city and region are also at various locations, particularly in the city’s north and east. The new buildings which have already been completed or are
cooperating to expand the broadband network and deliver a future-proof infrastructure. A matter which is particularly close still at the planning or construction stage in the Europaviertel district and the Pragsattel, Löwentor and Neckarpark areas are
to our hearts is the creation of links between Stuttgart’s strong scientific community and business in line with the close helping to relieve pressure on the extremely tight residential market and increase the offering of modern, high quality office
geographical proximity of cutting-edge research and top companies. In 2019 the “1st Stuttgart Scientific Festival” will show space which is so urgently required.
how smart the clever ideas for the city’s future can be.
Stuttgart’s office market is experiencing challenging conditions. The amount of space available has once again declined, while
You are invited to actively accompany the city on its journey into the future. vacancy rates are at an all-time low. Under such conditions it is extremely important not only to carry out creative planning
and development of new office buildings but also to optimize older existing spaces. This will ensure that the city continues
to be able to develop its dynamic power and innovation to the fullest extent.
The following pages present more detailed information on the current situation. We hope that you will find the report both
informative and interesting reading and look forward to your feedback and comments.
FRITZ KUHN INES AUFRECHT MARIO CAROLI BJÖRN HOLZWARTH
Lord Mayor Director of Business Development Managing Partner, Managing Partner,
of the State Capital of the State Capital E & G Real Estate E & G Real Estate
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D E V E LO PM E N TS I N 2018/2019
DEVELOPMENTS IN Ready for
2018/2019 the future
The future starts now. Stuttgart’s attraction and capacity for innovation The trends of recent years, such as changes in forms of work and, in consequence,
are reflected both in numerous projects and booming districts and working environments as well as huge changes in forms of production, are gradually
also the continuous inflow of well educated workers. becoming reality. Preliminary work for these changes has either been completed or is
Performance in the office real estate segment is currently having entering the decisive phase.
difficulty keeping up with this trend.
THE PREREQUISITES ARE IN PLACE
have been met. The residential market is currently very tight,
Corresponding mobile network capacities are key – however the decision to move away from the principle of
auctioning of the mobile communication frequencies “internal development in preference to external development”
for the 5G network will take place in spring 2019. The has created the basis for market conditions to ease in
automotive industry’s research into the development coming years. Improvements in the office market segment
of new manufacturing processes is reflected in the are not expected until 2023, when the site currently still in
ARENA2036 (Active Research Environment for the Next use by German Railways in the Jägerstrasse area becomes
Generation of Automobiles) project. In the field of artificial vacant, offering development potential in a prime city-
intelligence (AI) together with the Region of Tübingen, the centre location. Approximately 70 000 to 100 000 m² of
Region of Stuttgart has founded one of Europe’s largest office space could be created on the site, which is within
research cooperation projects – Cyber Valley. Parallel to walking distance of Stuttgart’s new main train station.
the development of self-driving vehicles the network of
IBA 2027 STADTREGION STUTTGART
e-mobility charging stations is being significantly enlarged,
while the city is promoting the use of bicycles through a The IBA international architecture exhibition, which will
huge increase in the number of cycle paths. In addition to take place in 2027, is a particular incentive for development.
this, not only is the attractiveness of public transport being The exhibition explores a diverse range of topics, seeking
increased through a comprehensive reform of the tariff answers to the question “How will we live and work in the
structure; its efficiency is also being continuously improved. 21st century?” In the meantime a board of trustees has been
Stuttgart’s population has grown to 614 000, making it established to address topics such as mobility; districts of
Germany’s 6th largest city, and will continue grow thanks, the future; new building culture; sustainability; solidarity
among other things, to the attractive employers throughout and participation in the city and region. In addition to future
the region. forms of living, issues such as what the working world of the
future will be like and what buildings are correspondingly
EASING IN SIGHT
required are sure to play an important role in the board’s
Industry in Stuttgart will continue to make huge efforts to considerations. The key focus will, however, be on how a
respond to new market conditions and defend its position city and its environment can be reshaped to meet future
on global markets. To this end it requires excellent workers, requirements and thus become future-proof. An exciting
who can only be recruited if all other general parameters task!
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D E V E LO PM E N TS I N 2018/2019
Changes in the urban landscape
thanks to innovative district development
The new building development projects of recent years have significantly changed the
urban landscape, resulting in substantial upgrading of some city districts. The axis from
the Europaviertel district to the Pragsattel, Löwentor Neckarpark areas in particular will
contribute to a completely new urban landscape after the relevant plans have been realized.
THE LIVELY EUROPAVIERTEL DISTRICT
empty manufacturing buildings in the surroundings were,
The Europaviertel district has become an area characterized however, unattractive.
by its lively nature. It is a successful combination of modern The development of the “Wizemann Complex”, with
office spaces; high-end city apartments; retail units and an offering ranging from simple lofts to modern newly
hotels. Construction on the remaining building plots is constructed properties, subsequently boosted the area’s
already planned, with new projects also a mix of residential, value. In addition to this, a DIBAG office project, still under
office and hotel space. The expansion of the inner city construction, has in the meantime already been fully
ring will thus have been successfully completed in the let, while the “leo Business Campus Stuttgart”, a LBBW
foreseeable future. Immobilien Development GmbH project, is under way on
the high-profile corner plot Pragstrasse/Löwentorstrasse
DEVELOPMENT IN THE PRAGSATTEL AREA
and will significantly further upgrade the area. The
Construction of the “MAYOFFICE” building plus a residential development of the “Mahle Future Campus” will close
development project including offices will make the vacant the gap between the “Wizemann Complex” and Mahle’s
plots around the theatre, disused for a long period, a thing corporate headquarters by creating state-of-the-art, high-
of the past. They will be replaced by a new district with quality office space. Completion of the Rosenstein Tunnel at
a well-balanced mix of cultural use; residential property the end of 2021 will result in a further improvement.
and modern office spaces. The new project planned by
NECKARPARK IS CATCHING UP
Bülow AG directly adjacent to the Pragsattel ridge is sure to
become a landmark in the area. The “Porsche Design Tower” There was a long wait until construction work could begin
– an 85-m tall structure – is scheduled for completion at on the 22-hectare former site of a railway freight yard. At
the end of 2022 and will include office and hotel space. In present three office buildings are under construction, two
addition to this, Porsche SE will be building its new Porsche of which will be occupied by the Stuttgarter Volksbank bank.
Centre, with display areas, a gallery and workshops, on the Building of two further office projects is scheduled to begin
neighbouring plot which it owns. in the very near future, with the architectural competition
for one of them already having taken place. Work on
LÖWENTOR – A SHOOTING STAR
second-row residential properties will also commence
The Löwentor area is set to undergo a major transformation shortly. A total of 850 apartments is planned as well as a
after experiencing a Sleeping Beauty-like slumber for swimming baths and sports grounds. Taken in conjunction
many years, despite the fact that construction of two new with the generous green space concept the Neckarpark area
office buildings at the beginning of 2000 showed that the is becoming a new, modern urban district which offers a
leo Business Campus Stuttgart
location is of interest to office users. The old, in some cases, high quality of life.
Source: LBBW Immobilien Development GmbH
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D E V E LO PM E N TS I N 2018/2019
Take-up declining THE THREE LARGEST CONTRACTS CONCLUDED
No major transactions
Tenant Submarket Total area
Take-up to 31.12.2018 totalled approx. 218 000 m², thus falling below the 10-year aver- Robert Bosch GmbH (Owner-occupier) Stuttgart-Feuerbach Approx. 50 000 m2
age of some 255 000 m². This was primarily due to the lack of large letting contracts in
Land Baden-Württemberg (Owner-occupier) Stuttgart-City centre Approx. 10 800 m2
2018.
Land Baden-Württemberg Leinfelden-Echterdingen Approx. 8 800 m2
TAKE-UP FALLS BELOW THE 10-YEAR AVERAGE FEUERBACH IS THE BEST-PERFORMING SUBMARKET
At approx. 218 000 m² to 31.12.2018 total take-up for 2018 The large owner-occupier contract concluded by Robert
LETTING PERFORMANCE FOR OFFICE SPACE IN STUTTGART 2008 – 2018 IN M2
was some 19 % under the previous year (31.12.2017: 270 Bosch GmbH resulted in the Stuttgart-Feuerbach submarket
000 m²) and some 15 % below the 10-year average. Four recording the highest take-up figure (some 54 600 m²),
owner-occupier contracts for take-up of around 67 000 followed by Stuttgart-Bad Cannstatt (approx. 34 500
m² - representing approx. 31 % of the total – made a key m²), where a DIBAG new construction project comprising
contribution to overall results. Of this figure, 50 000 m² were around 10 000 m² in the Löwentor area was let to two Ø letting performance: 254 950
accounted for by a single company –Robert Bosch GmbH, users from the Industry segment. Stuttgart’s city centre
who in the first quarter decided to occupy a building in the took third place with take-up of some 28 400 m² thanks
Stuttgart-Feuerbach district. In addition to this, the State to the owner-occupier contract concluded by the State of
of Baden-Württemberg acquired a building with some 10 Baden-Württemberg for a property at Kriegsbergstrasse
800 m² at Kriegsbergstrasse 32 in the city centre. The largest 32. Overall the lack of offerings on the market meant that
180 000
171 000
194 000
285 000
191 500
258 000
278 000
290 000
432 000
270 000
218 000
single letting contract, for approx. 8 800 m², was also signed very few contracts were signed for newly constructed
by the State of Baden-Württemberg for an existing building properties. In Stuttgart’s central business district the
in Leinfelden-Echterdingen. This once again demonstrates Eberhardhöfe complex, with an area of approx. 4 100 m²
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
the State’s importance as a client and player on the real and approaching completion, was exclusively let to co-
estate market. working space provider Design Offices. The remaining units
for the “Theo 9” project were also let to a single tenant,
while the “Lautenschlager-Areal” site has now also been LETTING PERFORMANCE IN STUTTGART AND ITS SUBMARKETS IN M2
fully let. In total, however, only around 27 400 m² of space
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
were let in the CBD. The average value for the last 10 years is
Central
approx. 49 800 m². business district 61 500 44 400 38 200 32 800 63 000 61 500 34 600 53 100 65 700 52 800 51 600 27 400
City centre 46 600 41 700 83 800 66 600 97 500 58 400 51 000 44 200 53 500 32 200 39 300 28 400
Vaihingen/ 13 700 18 500 20 200 26 200 56 300 18 200 62 000 34 700 56 300 141 200 52 000 30 200
Möhringen
Fasanenhof 2 300 10 600 2 700 5 300 12 500 7 400 5 700 9 100 10 300 19 600 18 600 6 700
Feuerbach/ 6 800 12 300 3 300 28 500 24 800 18 700 27 200 34 700 37 400 64 700 5 800 54 600
Zuffenhausen
Degerloch 7 200 9 200 4 900 2 100 4 000 4 800 1 900 1 500 1 300 7 100 9 700 3 200
Weilimdorf 5 100 12 800 5 900 11 400 5 500 5 300 7 700 30 900 42 900 33 100 18 100 15 400
Bad Cannstatt/ 15 400 12 500 8 100 8 300 13 400 12 000 19 800 54 900 15 100 45 500 11 800 34 500
Wangen
Leinfelden- 10 400 18 000 3 900 12 800 8 000 5 200 47 900 14 900 7 500 35 800 63 100 17 600
Echterdingen
Total 169 000 180 000 171 000 194 000 285 000 191 500 258 000 278 000 290 000 432 000 270 000 218 000
Source for all diagrams: Research E & G Real Estate GmbH ©, current as of: 31.12.2018
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D E V E LO PM E N TS I N 2018/2019
Demand continues to be strongest Number of contracts concluded
from industrial companies continues to decline
Although demand has declined somewhat in the last two years industrial companies, The largest single transaction concluded in 2018 was the development project planned
particularly in the automotive sector, continue to play the most important role in by Bosch for an office complex with a total of 50 000 m² in Stuttgart-Feuerbach.
the take-up of office space in the Stuttgart region. The transition to electromobility A total of 226 contracts were concluded in the period to 31.12.2018, with only five
and digitization presents the industry with challenges since it often requires spatial transactions in the segment above 5 000 m².
restructuring or expansion.
ONLY INCREASE IN THE MEDIUM-SIZED AREA SEGMENT VERY FEW MAJOR TRANSACTIONS
The total number of contracts concluded declined by 11 Very few major transactions were concluded in 2018. There
HIGH DEMAND FROM PUBLIC SECTOR USERS DEMAND FROM CONSULTANTS
% over the previous year. 149 transactions were recorded were only five contracts in the segment above 5 000 m², a
RELATIVELY STEADY
In 2018 industrial companies were once again the sector for the small area segment up to 500 m² in comparison further decline over the previous year. Total take-up in this
with the highest demand, with a take-up of some 76 000 Demand from “Consultants” was slightly lower than in the to 165 contracts in 2017. The most significant decline segment was 83 000 m². The three largest transactions were
m², of which 82 % was in the automotive industry. Although previous year, with letting contracts concluded for some was for the 1 001 to 2 000 m² segment, with 54 % fewer the Bosch development project in Stuttgart-Feuerbach,
take-up by industry remains high in comparison to other 20 100 m², while tenants in the “Media/Communications” contracts concluded than in the previous year while take-up which accounted for 50 000 m² alone, and the two contracts
sectors, its demand has, however, decreased significantly sector accounted for a total of approx. 11 800 m². A decreased by a huge 60 % to a mere 21 900 m². In contrast, concluded by the State of Baden-Württemberg for 10 800 m²
in recent years. While in 2016 take-up by industrial significant decrease in demand from users in the “Education the 2,001 to 5 000 m² segment saw an increase of over in the city centre and 8 800 m² in Leinfelden-Echterdingen.
companies was approx. 199 000 m², in 2017 it was only and Health Care” sector was recorded, above all from training 50 % in the number of transactions, with take-up almost The principle reason for this negative development is the
around 109 000 m². The second most important sector was companies, who are experiencing serious difficulties finding doubling in comparison to 2017, to some 46 400 m². scarcity of space, which is now affecting all size segments
Public Organizations, with some 30 700 m² of office space suitable premises due to the tight market in conjunction and means that tenants have virtually no choice of
let. Two large transactions played a major role in this – an with their specific structural requirements. Only around 2 properties.
owner-occupier contract for a property with approx. 10 800 900 m² of space was rented by “Financial services” providers.
m² space at Kriegsbergstrasse 32 in the central business The remaining take-up was wide-ranging, with the “Other
district and a letting contract in Leinfelden-Echterdingen for office users” sector, which includes architects, engineers
around 8 800 m². Demand from IT companies also remains and trading companies, accounting for approx. 20 % of total
COMPARISON OF CONTRACTS BY SIZE COMPARISON OF CONTRACTS BY NUMBER
stable, with this sector accounting for some 22 600 m² or 10 take-up.
% of total take-up.
Total figure in 2017: 270 000 m2 Total figure 2017: 254
Total figure in 2018: 218 000 m 2
Total figure 2018: 226
TAKE-UP BY SECTOR IN %
120 300
34.9 % Energy/Industry
83 000
165
19.8 % Others
54 900
149
14.1% Public sector
46 400
39 000
37 100
31 400
10.4 % IT/Telecommunications
29 600
23 600
21 900
42
9.2 % Consultants
39
35
14
16
5.4 % Media/Communication
9
5
6
4.9 % Education/Health care
≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 000 m2 ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 000 m2
1.3 % Financial services
Source of diagram: Research E & G Real Estate GmbH ©, current as of: 31.12.2018 Source of diagrams: Research E & G Real Estate GmbH ©, current as of: 31.12.2018
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D E V E LO PM E N TS I N 2018/2019
Prime rents STUTTGART CENTRAL BUSINESS DISTRICT PRIME AND AVERAGE RENTS FROM 2008 TO 2018 IN € / M²
falling due to lack of newly constructed space
The prime rent in Stuttgart as of 31.12.2018 was € 23.00/m² and thus 5.4 % lower than
24.30
in the previous year. It is currently at the same level as in 2016. The average for the entire
23.00
23.00
22.80
urban area including Leinfelden-Echterdingen was around € 13.90/m², representing a slight
21.50
20.00
20.00
increase of 1.4 % over 2016.
18.80
18.00
18.00
17.50
HARDLY ANY HIGH-END SPACES DEVELOPMENT OF RENTS IN THE OUTLYING DISTRICTS PRIME RENTS
18.50
18.20
16.20
IN STUTTGART’S CENTRAL BUSINESS DISTRICT
15.90
At € 16.50/m² prime rents in the south of Stuttgart remained
15.30
14.50
14.40
14.50
14.30
14.30
In 2018 rental prices developed in line with market at the same level as in the previous year, due to lettings
13.60
conditions. A fall in prime rents was foreseeable due to for new-build projects “VISION ONE” in Leinfelden-
the low number of newly completed buildings in the last Echterdingen and “Neo” in Stuttgart-Vaihingen. The average
two years. The lack of newly constructed space and thus rent in the area was € 13.00/m². In the northern fringe AVERAGE RENTS
small number of rental contracts concluded in the high-end areas a prime rent of € 13.00/m² was achieved – a slight
segment caused the prime rent to decrease from € 24.30/m² fall over the previous year caused by the fact that, with 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
in 2017 to € 23.00/m² in 2018. The continuing moderate rise the exception of one contract concluded for over € 19.00/
in average rents can be attributed to the ongoing scarcity of m² for the “MAYOFFICE” new-build project, letting contracts
existing space. Increases in rents, in some cases significant, were exclusively for existing buildings and for rental prices
could only be achieved for new lettings of such properties ranging from € 9.50 to € 13.00/m². Further lettings for the
by carrying out renovation and modernization measures. Of “MAYOFFICE” project and planned new-build projects “leo
the total 62 contracts concluded in the CBD 13 were in the Business Campus Stuttgart” in the Löwentor area und
rental price segment € 15.01 to € 17.00/m² and 29 contracts “urbanic” in Zuffenhausen are expected to result in an
(previous year: 41) were in the segment over € 17.01/m². increase in prime rents in the outlying northern districts
The majority of the 46 contracts signed for properties in the as early as the coming year. Progressive development of PRIME AND AVERAGE RENTS IN 2018 IN € / M2
city centre were in the segment € 11.01 to € 15.00/m². the Neckarpark area has already led to a significant rise in
prime rents in the outlying eastern districts to € 15.90/m².
The majority of letting contracts concluded in the outlying
districts were, however, generated in the price segment €
Ø for the entire city: 13.90
10.01 to € 12.00/m², with 63 contracts signed for total take- (2017: 13.75)
up of some 90 000 m².
Prime rents
23.00
18.20
17.00
11.90
13.00
11.70
15.90
13.70
16.50
13.00
Average rent
Central business
City centre Outlying districts Outlying districts Outlying districts
district
to the north to the east to the south
Source of diagrams: Research E & G Real Estate GmbH ©, current as of: 31.12.2018
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D E V E LO PM E N TS I N 2018/2019
COMPLETION VOLUME IN STUTTGART IN M2 Limited offering
for office users
Completion of building The vacancy rate to 31.12.2018 was approx. 2.3 %. With total existing space of 7.946
149 200
million m² this represented an offering of some 186 000 m², an increase of around 11.4
128 600
119 300
110 500
Pre-let % over the previous year. The market has, however, by no means eased.
92 800
89 700*
81 900
81 200
78 800*
72 500
69 500
64 300*
VARYING DEVELOPMENT IN THE SUBMARKETS SPACE REMAINS SCARCE IN THE
62 700
CENTRAL BUSINESS DISTRICT
47 500
The space available at Fasanenhof Industrial Park increased
45 000
42 000
41 200
37 000
significantly over 2017. This was due, on the one hand, The amount of space available in the central business
36 300
33 600
23 200
to completion of the first phase of construction at the district remains virtually unchanged and is thus scarce.
16.200*
“Fasanenhof Office Campus” and, on the other, to larger In the meantime rental contracts have been signed for
existing spaces at the business park becoming vacant. The the last available units at new-build developments the
offering in Stuttgart-Degerloch also increased over the “Lautenschlager-Areal“ and “Theo 9”; both are thus now
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
previous year due to a large rental space becoming vacant. In fully let. The entire Eberhardhöfe complex has already
* Planed completion and/or pre-letting
addition to this, the space available in Stuttgart-Feuerbach/ been fully let to co-working provider Design Offices prior
Stuttgart-Zuffenhausen and the city centre also increased to completion.
slightly, however in all cases only because existing spaces
became available for new tenants. Negative development Since the coming three years will see virtually no newly
was recorded for the outlying submarkets of Weilimdorf constructed space come onto the market in the central
VACANT SPACE AS OF 31.12.2018 AND PERCENTAGE CHANGE OVER 2017
(approx. -24.6 %) and Leinfelden-Echterdingen (some -39.0 business district and city centre Stuttgart’s outlying districts
%). In the latter location it was, however, possible to achieve remain the only option for companies seeking large rental
full letting of an existing building, parts of which had spaces. In addition to this, a contract is about to be signed
Area Vacant space Percentage change over 2017
been vacant for some time, by concluding contracts with with a tenant for the “LOOK 21” building, which has some
Fasanenhof 27 600 m2 + 84.0 % new tenants and extending contracts with existing ones. 10 000 m² total space and is nearing completion, meaning
Furthermore, the State of Baden-Württemberg leased some that it is also no longer on the market.
Stuttgarter City centre 27 400 m2 + 25.1 %
8 800 m² in a neighbouring property.
Möhringen 23 000 m 2
− 10.9 %
Stuttgart Central business district 21 300 m2 − 3.2 %
Bad Cannstatt, Wangen, Hedelfingen 20 800 m2 + 56.4 %
Degerloch 17 500 m2 + 38.9 %
Vaihingen 15 300 m2 − 1.3 %
Leinfelden-Echterdingen 12 300 m2 − 35.3 %
Feuerbach, Zuffenhausen 11 600 m2 + 23.4 %
Weilimdorf 9 200 m2 − 24.6 %
Total vacant space: 186 000 m2
Source of diagrams: Research $ & G Real Estate GmbH ©, current as of: 31.12.2018
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D E V E LO PM E N TS I N 2018/2019
Solid take-up in the COMPARISON OF VACANCY RATES IN GERMANY IN %
Top 7 locations 2012 2013 2014 2015 2016 2017 2018
13.9
13.8
Take-up in Germany’s Top 7 locations (Berlin, Düsseldorf, Frankfurt a. M., Hamburg,
12.5
11.8
11.6
11.7
Cologne, Munich and Stuttgart) to 31.12.2018 totalled approx. 3.8 million m². Vacancy
10.9
10.9
10.4
9.8
8.7
8.4
rates in all locations were at an all-time low.
7.6
7.6
6.8
7.4
7.4
7,4
7.0
6.9
6.3
5.8
6.0
5.9
5.7
5.3
5.4
5.2
5.1
5.1
4.9
4.8
4.3
4.3
4.0
4.3
3.7
3.7
3.5
3.6
3.5
2.6
2.8
2.5
2.2
2.3
MUNICH CLEARLY AHEAD OF BERLIN VACANCIES REACH A NEW ALL-TIME LOW
1.8
2.1
1.8
At 940 000 m² Munich’s office market was the front runner Existing office space including sublet space in the Top 7
Hamburg Berlin Dusseldorf Cologne Frankfurt a. M. Stuttgart Munich
for take-up in 2017 and thus 7 % above the previous year’s locations currently totals 90.90 million m², while the volume
performance. Numerous major transactions contributed to of vacant space has declined to 3.05 million m², equating to Munich
940 000
this record-breaking figure, including 38 000 m² of space a vacancy rate of some 3.4 %. In both Munich and Berlin the TOP 7 TAKE-UP FROM 2008 TO 2018 IN %
let to a financial services provider in the “Campus One” amount of space available was at an all-time low, with a
877 000
building. In Berlin over 770 000 m² of office space was let, vacancy rate of just 1.8 %. Stuttgart also had a continuingly
853 000
764 000
765 000
representing a decline of 14 % over 2017. The largest letting extremely low vacancy rate of 2.3 %, followed by Cologne at Berlin
755 000
716 700
contract was signed by Vattenfall, for some 29 000 m². 2.6 %, while in Hamburg the offering also declined, resulting
590 000
608 000
583 950
540 000
Frankfurt a. M.
Although at around 639 400 m² take-up in Frankfurt was in a vacancy rate of 3.5 %. In Düsseldorf the amount of Hamburg
12 % lower than the record-breaking figure for the previous vacant space fell to 7.6 %, in Frankfurt to 7.4 %. In the years
year it was, however, still significantly above the 5-year 2019/2020 a total space of some 2.23 million m² is expected Dusseldorf
432 000
Cologne
average. The largest transaction was the deal concluded to be completed in the Top 7 locations. Some 75 % of this
290 000
with the Commerzbank for 36 100 m² at the “Cielo” building. space has, however, already been let, meaning that the
285 000
285 000
280 000
270 000
218 000
180 000
Stuttgart
191 500
194 000
Hamburg’s performance – take-up of 590 000 m², just 8 % tight market is thus not expected to ease in the foreseeable
171 000
lower than in the previous year - was again strong, while future.
take-up in Düsseldorf declined slightly by 7 % to 334 600 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
m². In Cologne office take-up was approx. 310 000 m² and
thus almost the same as in the previous year. Stuttgart, STUTTGART IN COMPARISON TO OTHER GERMAN CITIES
in contrast, experienced a noticeable decrease of 19 %,
representing take-up of around 218 000 m². Take-up in m2 Prime rent in € / m2 Average rent in €/m2 Vacancy rate in %
2017 2018 2017 2018 2017 2018 2017 2018
AVERAGE RENT INCREASES IN ALL LOCATIONS
The highest prime rents were achieved in Frankfurt (€ 43.50/ Hamburg 640 000 590 000 26.00 27.50 15.20 15.80 4.3 3.5
m²). Berlin saw its prime rent rise the most, to € 33.50/m²,
Berlin 900 000 770 000 30.00 33.50 19.00 21.30 2.2 1.8
representing an increase of 12 %. The only fall in prime
rents was in Stuttgart, - 5 % to € 23.00/m². Average rents in Dusseldorf 358 700 334 600 27.00 27.50 15.35 16.10 8.4 7.6
Stuttgart (+ 1 %) and Frankfurt (– 1 %) remained relatively Cologne 310 000 310 000 21.50 23.00 13.70 15.00 3.8 2.6
stable, while in all other locations they increased over the
Frankfurt a. M. 729 100 639 400 39.50 43.50 20.30 20.00 8.7 7.4
previous year. The highest figure, € 21.30/m², was achieved
in Berlin, followed by Frankfurt (€ 20.00/m²) and Munich (€ Stuttgart 270 000 218 000 24.30 23.00 13.70 13.90 2.1 2.3
18.65/m²).
Munich 877 600 940 000 35.00 36.80 16.90 18.65 2.5 1.8
Source of diagrams: Research $ & G Real Estate GmbH ©, current as of: 31.12.2018
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ST U T TG A RT I N D E TA I L
Stuttgart Stuttgart central business district/city centre -
in detail Locations experiencing shortages
A continuing need for space but significantly changed requirements Stuttgart’s most attractive areas, the central business district and the city centre, are
regarding the quality of such space have led to growing demand for experiencing the most precarious conditions. Vacant space is practically non-existent,
development projects and optimization of buildings. while new development projects will only come on stream in a few years’ time.
The first indications that space was becoming scarce were pressure on the market, is not expected to be created in the
already noted in 2017, however, were not taken very near future.
seriously until the signs became clearer in 2018. The last
two newly constructed projects in the central business In response to the scarcity of the offering in the central
district (“Lautenschlager-Areal Construction Phase 1” business district various users have turned their attention
and “Eberhardhöfe”) have now been completed and fully to directly adjacent areas, such as the city centre and
let. The space which will be created within the scope of neighbouring districts. The options there are, however, also
the second phase of construction at the Lautenschlager- very limited, as clearly shown by 2018 letting performance
Areal complex has also already been fully let, although for the entire city centre, which totalled 28 400 m². The 10-
the project has not yet been completed. At present there year average is 59 500 m², illustrating the volume of take-up
is practically no vacant space available on the market, achieved in the past.
neither for small nor large areas. This scarcity caused
take-up in 2018 to plummet by 46 %. At 27 000 m² it is The “Look 21” building, completed at the end of 2018, will
now significantly below the 10-year average of 52 500 have been fully let by the first quarter of 2019. This means
m², while the situation in 2019 will further intensify as no that the closest newly constructed space offerings are
newly constructed space will be completed in the central located further to the north, in the Pragsattel area. Upcoming
business district. Companies in this area will thus lack the development projects in the central business district are not
manoeuvring space and options required for healthy growth. expected to come on stream until 2024.
New space in the city centre area0 which would relieve
Central business district ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2
% share of space 41 % 25 % 8% 26 % 0%
m 2
11 234 6 850 2 192 7 124 0
Ø rental price 18.20 € / m 2
Prime rent 23.00 € / m2
City centre ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2
% share of space 32 % 15 % 11 % 0% 42 %
m 2
9 080 4 260 3 124 0 11 928
Ø rental price 11.90 € / m 2
Prime rent 17.00 € / m2
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ST U T TG A RT I N D E TA I L
STUTTGART-WEILIMDORF
Northern Stuttgart - Average rents have declined to € 10.30/m², while pressure
A further decrease in the vacancy rate from 3.2 % to 2.4 %, on the market means that the prime rent is € 12.50/m². The
Supply of offices virtually exhausted or 9 200 m² of available space, in conjunction with another decision by Stuttgart’s tram company to build a new depot
15-% drop in total letting volume to approx. 18.900 m² directly adjacent to the industrial park, which previously
Although only a small number of newly constructed spaces are currently coming onto
illustrates the scarcity of vacant office space in Weilimdorf. only had an S-Bahn suburban rail link, will be advantageous
the market in northern Stuttgart, a certain degree of dynamism is apparent in the A development project for some 15 000 m² is still at the for the area as it will create a new connection to the tram
Feuerbach, Zuffenhausen and Weilimdorf areas. preparatory stage, the new space will thus not come on network. It is, however, currently unclear when the project
stream until the 3rd and 4th quarters of 2020 at the earliest. will commence.
STUTTGART-FEUERBACH
The overall appearance of the Pragsattel area is set
As a district which is strongly characterized by the to undergo further significant change following an
automotive industry, Feuerbach has experienced a decline announcement made by Porsche SE in December 2018. The
Feuerbach/ ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2
in the number of contracts concluded. Take-up in this company plans to construct a new branch with workshops
Zuffenhausen
area was dominated by the decision of R. Bosch GmbH to on a plot which it owns in direct proximity to the “Skyline”
% share of space 1% 1% 5% 0% 93 %
construct a new building with 50 000 m² of office space for office and residential building. Parallel to this, Bülow AG
m2 559 546 3 495 0 50 000
its own use on a plot owned by the company in Feuerbach. will be building a further high-rise building on its plot –
Ø rental price 11.70 € / m2
As a result, total take-up was 54 600 m², an above-average the “Porsche Design Tower”. In addition to office space, the
Prime rent 16.00 € / m2
result. No new buildings were completed in 2018, while the layout includes hotel use on the upper floors.
only building completed in 2017 was for an owner-occupier
STUTTGART-ZUFFENHAUSEN
and thus had no impact on the development of rents. In the
Weilimdorf ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2
meantime, however, the first letting contracts have been Virtually no contracts were concluded in Zuffenhausen in
completed for the new-build projects, with higher rents and 2018. Realization of the “urbanic” project on the former % share of space 21 % 7% 0% 0% 72 %
corresponding upward development of prime rents thus Fritz OHG site on the corner of Schwieberdinger Strasse/ m2 3 234 1 078 0 0 11 088
once again expected in the foreseeable future. Lorenzstrasse is expected to commence in 2019. The office Ø rental price 10.30 € / m2
campus will provide a total of approx. 2 500 new work Prime rent 12.50 € / m2
Construction of the “MAYOFFICE” building has commenced, spaces and comprise several buildings grouped around a
with the first marketing successes already achieved. square. This development project will result in continuation
Completion of the approx. 8 500 m² building is scheduled of the upgrading of the surrounding area which began
for mid-2020, with almost 50 % of the space already let by on Porscheplatz square with the museum and adjacent
the first quarter of 2019. buildings. What was originally a logistics site will become
a prime office location. The project comprises some 35 000
Parallel to this project, the Acom Group is building a hotel on m² of office space in total, whose direct proximity to the
the corner of Heilbronner Strasse/Sieglestrasse. It will have S-Bahn train station should be advantageous for marketing.
160 rooms and should be completed in the 2nd quarter of
2020. Overall, the structural alterations being carried out by
The “Leitz-Areal” complex, the only project of its size on Porsche SE at its works in Zuffenhausen are leading to
the Stuttgart market offering loft-style spaces, was actually significant upgrading of the district, with many of the old
scheduled to be more or less fully completed in 2018, factories already replaced by cutting-edge new buildings
however sales activities and a new strategy focus for the and further projects planned.
product have caused delays. It is currently assumed that this MAYOFFICE, Stuttgart-Feuerbach
office space, totalling around 15 000 m², will be available by
the second half of 2019 at the latest.
Source: GIEAG Immobilien AG
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ST U T TG A RT I N D E TA I L
WANGEN/HEDELFINGEN
Eastern Stuttgart -
The lack of new space has meant that the Wangen/ Rents in this area are correspondingly low, in the range of €
A transformation is taking place Hedelfingen submarket was once again not particularly 8.00 to € 12.00/m².
dynamic in 2018. In total only seven contracts for areas up
The Neckarpark and Löwentor areas in Cannstatt are relieving pressure on the office real
to 1 000 m² were concluded, of which five were for spaces Two development projects could result in changes – one
estate market, while the lack of new buildings south-east of the River Neckar means that from 500 to 1000 m². These spaces are, in turn, located in is located in the Ulmer Strasse area, the other at the
little change is taking place in that area. buildings which were constructed more than 15 years ago. “Hammerwerk” site in Obertürkheim. The latter project is
Contracts for smaller areas were for older properties with focusing on the revitalization and modern expansion of
more basic facilities. former manufacturing sites to create a loft-style complex.
BAD CANNSTATT
start soon. In addition to this, possible uses for the Q20 and
75 % of office take-up in eastern Stuttgart was achieved in Q9 plots are now being considered.
Bad Cannstatt/
Bad Cannstatt. The area’s 10-year average was also exceeded ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2
Wangen/Hedelfingen
by 10 000 m². The large contiguous spaces in this district In the Löwentor area the designs for the buildings which
% share of space 11 % 15 % 16 % 38 % 20 %
have resulted in strong demand from users in the Industry, will make up the future “gateway” area have been finalized.
m 2
3 795 5 175 5 520 13 110 6 900
Public Sector and Consultants sectors. As a consequence the The first of three structures at the “leo Business Campus
Ø rental price 13.70 € / m 2
vacancy rate is now extremely low, at 2.3 % or 20 000 m² of Stuttgart” is scheduled to be fully completed and let by the
Prime rent 15.90 € / m2
space distributed across 65 properties. end of the 2nd quarter of 2019.
Construction of the other buildings directly on the corner of
Further development projects in the Neckarpark area should, Pragstrasse/Löwentorstrasse respectively in Pragstrasse will
however, ease pressure on the market. The last zoning begin during 2019. In total some 16 000 m² of cutting-edge
plan for the area is expected to come into force during office space will be created.
the first half of 2019, allowing construction of second-row
residential units behind the commercial buildings which DIBAG’s project in Löwentorstrasse, also currently under
are already underway to begin quickly. In addition to prime construction, has now been fully let to two automotive
office workplaces the projects will also create homes for a industry users and should be finished by the end of 2019.
total of some 2 100 people.
Realization of the “Mahle Future Campus” in the
DIBAG’s “Q4” and “Q7” office buildings along Daimlerstrasse Quellenstrasse/Pragstrasse area, announced some years
will be finished and occupied by the end of the 2nd quarter of ago, has been underway since the fourth quarter of 2018.
2019, while the “Q1” building, also being developed by DIBAG, The old manufacturing buildings in Pragstrasse have been
is now under construction and scheduled for completion at demolished and excavation work for the campus, which
the end of 2019. The winner of the architectural competition covers a total area of approx. 24 000 m², has commenced.
for the Q8 corner plot (Mercedesstrasse/Daimlerstrasse) has The overall project is expected to be completed in 2021.
now also been selected, with building work expected to
leo Business Campus Stuttgart, Stuttgart-Bad Cannstatt
Source: LBBW Immobilien Development GmbH
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ST U T TG A RT I N D E TA I L
DEGERLOCH
Southern Stuttgart - In total 17 600 m² of space was let in 2018; this figure did
Once again, in 2018 no increase in take-up could be not, however, match the outstanding performance of the
Dynamic development in some areas identified in the Degerloch area. Due to the lack of available previous year. Results in 2017 were, however, primarily due
space almost all the contracts concluded were for properties to the major transaction concluded by Daimler AG, who
Overall, the office market situation is most positive in Leinfelden-Echterdingen and
at Tränke Industrial Park, with only one transaction for plans to build a new “Daimler Trucks Campus” in Leinfelden-
Stuttgart-Vaihingen. In addition to this, the “VISION ONE” and “NEO” development space in the Albplatz area. Most of the space which is still Unteraichen, scheduled for completion in 2021. The vacancy
projects are contributing to the upgrading of these districts. available, some 17 500 m², is primarily in properties in the rate in the Leinfelden-Echterdingen area is currently only
Tränke area. Even in this district properties which do not 2.6 % or approx. 12 300 m², distributed across numerous
come up to current standards or have other defects will small spaces and thus offering only limited marketing
remain vacant for a longer period of time. opportunities. Modern office spaces will not be available
in Echterdingen until the “VISION ONE” project has been
For years now the area around Albplatz square has been completed.
considered interesting due its attractive infrastructure,
FASANENHOF
however has virtually no space on offer. The departure of a
major user should mean that larger areas come back onto The Fasanenhof district is making steady progress. Both
the market by 2022 at the latest. A further development the GFT AG start-up incubator and the co-working concept
project directly on Albplatz will also increase the office established by Design Office in the area have contributed to
spacing offering, however this space is also not expected to its upturn. The first construction phase of the extension of
come on stream before 2021/2022. the U6 light rail transit line to the airport is planned for 2019
VISION ONE, Leinfelden-Echterdingen
and should be completed in 2021.
LEINFELDEN-ECHTERDINGEN
Source: Bülow AG As in other locations, the space available in the Leinfelden- The “Bürocampus Fasanenhof” office complex, which has
Echterdingen district has also decreased significantly. The been under construction since the 4th quarter of 2017,
same applies for Stuttgart Airport, which is included will have been completed and fully let in 2019. A further
Degerloch ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2
in the Leinfelden-Echterdingen market. In Leinfelden- building phase has been prepared and can begin in the near
% share of space 33 % 67 % 0% 0% 0% Unteraichen’s Fasanenweg area large areas of the former future, while a small, newly-built office building on the site,
m 2
1 056 2 144 0 0 0 Telekom site, which has been vacant for some time, have which has some 3 800 m² of space, has also been almost
Ø rental price 12.00 € / m 2
been re-let, while an existing tenant has expanded his fully let.
Prime rent 13.00 € / m 2
premises. Bülow AG’s “VISION ONE” project in Dieselstrasse
in Echterdingen, which commenced in 2018, has also Both the number of letting contracts concluded and also the
≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2
achieved initial letting successes, winning a tenant from corresponding volume of space have decreased. At approx.
Fasanenhof
the IT sector. In total the office campus will comprise three 6 700 m² letting performance was well below the 10-year
% share of space 58 % 22 % 20 % 0% 0%
buildings with a total area of some 26 000 m². The “VISION average of 10 800 m². Only one of the contracts signed was
m2 3 886 1 474 1 340 0 0
ONE” complex is a further element in the remodelling of for space over 1 000 m²; all others were for smaller areas.
Ø rental price 11.60 € / m2 the industrial park in northern Echterdingen, which has At 12.0 % the vacancy rate is significantly higher than that
Prime rent 14.50 € / m2
been underway for some years now. Completion of the new for other areas of Stuttgart, which can be attributed to the
REWE premises directly on the main B 27 road, near to the age of the existing buildings and the refurbishment work
Leinfelden- ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2 A 8 motorway exit, and parallel development of the area which this requires. Owners should take advantage of the
Echterdingen
on the opposite side of the road have resulted in long-term present situation and carry out any required revitalization/
% share of space 9% 6% 7% 23 % 55 %
upgrading of the park’s last remaining older area. new construction projects now.
m2 1 584 1 056 1 232 4 048 9 680
Ø rental price 13.50 € / m2
Prime rent 14.50 € / m2
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ST U T TG A RT I N D E TA I L
VAIHINGEN/MÖHRINGEN
The Stuttgart office market -
Most of the shell of Daimler AG’s new building has been located near the Daimler Campus in Möhringen, comes on
completed and should, as planned, be ready for handover stream. An architectural competition for the project was
Take-up in 2018
to the users in 2020/2021. The second major project, Allianz initiated in 2018.
AG’s new building, is still at the preparatory stage, with
construction scheduled to commence at the end of 2020. While take-up in Vaihingen/Möhringen in 2018 was not
≤ 10 000 m2
able to match that of previous years, at 26 the number of
The first letting contract for the “Neo” office project in transactions is by far the highest achieved by an outlying 10 001 to 20 000 m2
Ruppmannstrasse, which comprises an area of approx. 17 submarket. Contracts were evenly distributed across all
20 001 to 30 000 m2
700 m² and was speculatively started in the 2nd quarter size segments, confirming the widespread interest in this
Trend
of 2018, has been signed. The tenant is a well-known district. Clear variations in rents are due to proximity to the 30 001 to 40 000 m2 Heilbronn
gym operator, who will be opening a 1 700-m² branch. S-Bahn suburban railway line. Those areas of Möhringen Above 40 001 m2 A 81
Completion of the project is scheduled for the 4th quarter of which are only connected to the tram network and have
Industrial/ office locations
2019. Pressure on the market means that full letting of the a less pronounced service industry character must thus be
project can be expected prior to this date. A further project defined as somewhat weaker overall.
for some 3 500 m², located in the Kupferstrasse, should STAMMHEIM
MÜHLHAUSEN
begin at the end of 2019, while it should be possible to A range of construction measures currently taking place
ZUFFENHAUSEN
re-let most of the space in the two buildings which have in the area between Vaihingen and Möhringen will
become vacant on the Daimler Campus in Möhringen to change its appearance significantly. Full connection of
MÜNSTER
users in the creative and automotive sectors. Breitwiesenstrasse to the key Nord-Süd-Strasse road A 81
transport artery is scheduled to be completed in the 3rd
Richtung WEILIMDORF
BAD CANNSTATT
It is expected that demand for larger spaces in mint quarter of 2019. In addition to this, the City of Stuttgart’s Singen
FEUERBACH
condition in the district can only be satisfied in a few years’ twin budget for 2018/2019 includes modification of
time, when a further development project comprising two Nord-Süd-Strasse to meet future traffic requirements, S-NORD
office towers and a total area of 50 000 m² total floor area, with corresponding planning work already initiated. UNTERTÜRKHEIM
S-OST
BOTNANG
S-MITTE
OBERTÜRKHEIM
S-WEST WANGEN
Vaihingen/Möhringen/ ≤ 500 m2 501 – 1 000 m2 1 001 – 2 000 m2 2 001 – 5 000 m2 > 5 001 m2 S-SÜD
STEP HEDELFINGEN
% share of space 10 % 19 % 11 % 40 % 20 %
Richtung
m2 3 020 5 738 3 322 12 080 6 040 Karlsruhe SILLENBUCH
VAIHINGEN
Ø rental price Vaihingen: 12.80 € / m , Möhringen: 11.70 € / m
2 2
DEGERLOCH
A8
Prime rent Vaihingen: 15.50 € / m2, Möhringen: 12.50 € / m2 MÖHRINGEN
BIRKACH
Kreuz
A 81 Stuttgart
FASANENHOF
PLIENINGEN
A8 Richtung
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