The current developments in the light industrial real estate market were highlighted by leading industry experts during an online press conference on 21 September 2026. The participants unanimously emphasised the resilience of this segment, even in a challenging economic environment. The broad user base, which ranges from production and trades to e-commerce, urban logistics, and even indoor sports facilities, was highlighted as a decisive factor for stable demand and resilience against sector-specific weaknesses.
Sarina Schekahn, Head of Industrial & Logistics Leasing at CBRE, confirmed the segment's robustness and referred to its diverse uses, which make light industrial more resilient to economic fluctuations. She identified the lack of modern, suitable space as the biggest challenge. Particularly in urban locations, commercial property is increasingly competing with residential, data centres, and other types of use. Schekahn stressed the need to secure commercial space more strategically to ensure economic resilience and security of supply.
Alexander Fieback, Head of Office and Commercial Real Estate at bulwiengesa, noted that the light industrial investment market is picking up again and proving more stable than many other real estate classes. The decline was primarily cyclical rather than structural. Business parks proved to be a significant anchor of stability in this context. However, the revival of the investment market is more selective than in previous boom years, with investors placing great importance on location, property quality, tenant structure, and alternative use potential. Business parks can score points here through risk diversification and portfolio stability. Fieback highlighted that the boundaries between production, warehousing, office, and research are increasingly blurring, which is a strength of light industrial, as business parks can flexibly accommodate new requirements, such as test areas or robotics.
Key Drivers and Future Requirements
Daniel Busch, Chief Operating Officer at CTP Invest Germany, reported a significant upturn in demand in the second half of the year. He observed that companies were sometimes securing larger spaces than they currently needed to accommodate future growth and maintain flexibility at the site. The availability of electricity has become a crucial location advantage. When developing brownfields today, a precise analysis is carried out to determine existing connection capacities and how photovoltaics, storage, and other solutions can be combined into an intelligent energy ecosystem for users. Busch emphasised that light industrial is not a short-term development case; brownfields in urban areas require capital, planning, and continuous development into functioning business parks, for which he sees stable prospects for the next ten to 20 years.
Michael Kapler, Board Member at BEOS AG and Head of Portfolio Management Swiss Life Asset Managers in Germany, added that demand for light industrial space now comes from significantly more sectors than just a few years ago, including life sciences, defence, robotics, and new leisure and sports concepts. This broad user base strengthens the segment against economic fluctuations. Kapler predicted that the value contribution of a property will no longer be measured solely by its ongoing operation in the future, but that the overall ecological balance, including resources and energy tied up in the existing stock, will be decisive. In contrast to many other segments, owners of light industrial properties can still immediately create value through active asset management, which makes this asset class particularly attractive for institutional investors.
Active Management as a Success Factor
Dr. Karim Rochdi, Founder & Managing Partner of AVENTOS, confirmed the resilience of light industrial. He explained that the letting markets continue to function, and the transaction market, despite declines, remains fundamentally functional, as the broad user structure ensures buyers even in a difficult market environment. He pointed out that for high electricity demands, lead times of several years must be considered, which is why properties with appropriate connection capacities have a significant competitive advantage, especially for electricity-intensive users. Rochdi described light industrial as a labour-intensive asset class, where success is achieved through intensive engagement with individual properties, understanding user needs, and developing suitable products. This makes active asset management a decisive success factor, particularly in a more demanding market.
