Q2 | July 2021

Research Office Market Profile Stuttgart: Weakest six months since records began

The take-up of just 17,000 sqm over the second quarter Development of Main Indicators was the weakest level since JLL’s quarterly office market statistics in Stuttgart began in 2008. Occupiers are still cautious when making decisions relating to leasing and owner-occupation. However, this means that there is now a demand backlog, as those decisions will have to be made at some point. The cautious behaviour has re- sulted in a reduced full-year forecast of just 120,000 sqm. Even if the knot unties itself in the second half of the year, many deals will not be signed until the following year. In any event, whatever enquiries there are in the market tend to be focused on the central locations and top-class space; demand is limited for properties in peri- pheral locations. However, the low level of take-up is also due to scarcity on the supply side: even a low space does not include any available space in the highly take-up in the next six months is likely to further reduce sought-after CityCentre submarket. Whilst the vacancy the already low vacancy to below the bottom line and level will move sideways over the medium term, it is pipeline projects not yet under construction are unlikely expected that prime rents will rise. to be (speculatively) started during the Corona pande- mic. It is expected that a further 12,000 sqm of space will come onto the market by the end of the year, but that

Stuttgart: Office Space Market Areas with Rental Bands (€/sqm/month) Stuttgart: Office Market Areas with Rental Bands (€/sqm/month) JLL Research 2021/Q2 Schoeckingen Neuwirtshaus Neustadt am Neckar Rems-Murr-Kreis Korb Hirschlanden Zuffenhausen Korntal-Münchingen € 10.00-16.50

Ditzingen Waiblingen Kleinheppach Stuttgart Beinstein Hoefingen Weilimdorf Gebersheim Bad Cannstatt Fellbach Remshalden Rutesheim € 11.00-16.50 € 11.00-19.00 Feuerbach Weinstadt € 13.50-19.50 Kernen im Stuttgart-North Remstal Gerlingen € 15.00-20.00 Stuttgart Stetten im Remstal Schnait Struempfelbach City Stuttgart-West Stuttgart-East € 15.50-25.50 € 15.00-20.00 € 10.50-18.00 Unter-Obertürkheim/Wangen-Hedelfingen € 10.50-16.50 Warmbronn Stuttgart-South € 10.50-17.00

Magstadt Degerloch € 10.50-20.00 Esslingen Hoffeld am Neckar

Vaihingen-Möhringen Ostfildern € 13.50-20.00 Kemnat Plieningen Sindelfingen Fasanenhof € 11.50-18.00 € 9.00-11.00 Plochingen

Dagersheim Leinfelden-Echterdingen Denkendorf Wernau Böblingen (Neckar) Leinfelden-Echterdingen Flughafen Neuhausen € 11.00-19.00 Stuttgart auf den Wendlingen © OpenStreetMap&contributors Bernhausen Fildern am Neckar Konstantin Kortmann Stephan Leimbach Helge Scheunemann Head of Leasing & Agency Germany Head of Office Leasing Germany Head of Research Germany +49 (0) 69 2003 1390 +49 (0) 69 2003 1245 +49 (0) 40 350011 225 [email protected] [email protected] [email protected]

Gerald Dietzold Miguel Rodriguez Thielen Suat Kurt Senior Team Leader Office Leasing Senior Team Leader Office Leasing Senior Team Leader Office Leasing Berlin Düsseldorf Frankfurt +49 (0) 30 203980 144 +49 (0) 221 2775 44 +49 (0) 69 2003 1347 [email protected] [email protected] [email protected]

André Hoffmann Alexandra Hager Fritz Maier-Hartmann Senior Team Leader Office Leasing Senior Team Leader Office Leasing Senior Team Leader Office Leasing Hamburg Köln München +49 (0) 40 350011 352 +49 (0) 221 2775 16 +49 (0) 89 290088 139 [email protected] [email protected] [email protected]

Sebastian Treier Senior Team Leader Office Leasing Stuttgart +49 (0) 711 900370 36 [email protected]

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