Business parks and small-scale Light Industrial Real Estate are experiencing exceptionally strong growth. According to Savills, with €212 million in the first quarter, they posted a 206% increase over the previous year, clearly setting themselves apart from big-box logistics properties. It is important to look not only at the aggregate figures in the logistics and industrial real estate market, but also at the individual property types.
At the same time, the leasing market remains dynamic. BNP Paribas Real Estate reports a space take-up of 1.5 million m² for Q1 2026, a 30% increase for the entire segment. Occupiers are securing space, adapting their structures, and investing in their locations. Operational demand is there.
This gives rise to a constellation that defines this phase: a stable, and in some cases growing, occupier market on the one hand; and an investment market on the other that does not distribute capital broadly but rather directs it specifically toward property types that directly reflect this demand.
Business parks are a prime example of this. Multiple tenants, varying lot sizes, flexible usage options, and a broader revenue base meet a demand that requires precisely these characteristics.
This is particularly evident in the segment of small-scale Light Industrial spaces ranging from 200 to 1,000 m². These spaces are operationally indispensable for many companies. Production, service, workshops, or spare parts logistics cannot be relocated at will. At the same time, there is a lack of new construction precisely in this segment, and supply remains scarce. The Hanse Gewerbehöfe represent a product that addresses this need directly.
When demand meets limited supply and capital flows selectively to where usage is most stable, the market equilibrium shifts.
For investors, this means less focus on the overall segment and more on the quality and functionality of individual property structures. Diversified Cashflows, multiple tenants, and adaptable space concepts are coming to the forefront.
The discrepancy in the investment market is therefore not a contradiction. It reflects a shift within the asset class, and this is precisely where the true development of this market phase lies.
