The German industrial and logistics property investment market achieved a transaction volume of 3.26 billion euros in the first half of 2026. This result exceeded the volume of the prior-year period by 24 percent. This development was significantly driven by several large-volume transactions that invigorated market activity during the reporting period. These findings are based on a current analysis by global real estate service provider CBRE.
Kai F. Oulds, Head of Industrial & Logistics Germany at CBRE, stated that the German logistics investment market continues to gain momentum. He observed increased activity from international investors in Germany, as well as more intensive market exploration by German investors. International investors reportedly assessed the German market more positively than some domestic market participants. Simultaneously, the number of concrete acquisition due diligences has continuously increased, indicating a growing willingness to invest.
Kristine Kühn, Senior Director Valuation Advisory Services at CBRE, commented on yield development. She noted that the prime yield for logistics properties recently rose slightly to 4.5 percent. However, only a few transactions were concluded in the core segment during the reporting period. Market and pricing evidence is therefore limited, necessitating a cautious interpretation of yield development.
Tom Franke, Head of Logistics Investments Germany at CBRE, remarked that after large-volume transactions had been rather rare in previous quarters, more deals in higher volume classes were recorded again in the first half of the year. These transactions contributed significantly to the increased investment volume and raised the average ticket size. Buyer activity was also considerably higher than a year ago.
In addition to traditional logistics properties, there was a significantly increased investor interest in Light Industrial properties. Almost a quarter of the total volume for the first half of 2026 was allocated to this segment, representing a doubling compared to the previous year. Another emerging segment is Industrial Outdoor Storage (IOS), which is increasingly establishing itself as a complement to the investment market. Although still a relatively small segment, conveniently located sites outside the established top logistics regions are increasingly coming into focus. Reasons for this include lower land costs and less reliance on large regional labour potential.
Looking ahead to the remainder of 2026, Franke stated that the number of ongoing acquisition processes has increased in recent months. Should more core product also become available on the market again, CBRE expects a continuation of positive market development and sustained lively transaction activity in the second half of the year.
