Logistics real estate investment market continues on its growth trajectory in the third quarter of 2026

- Transaction volume of €4.71 billion, up five percent year on year
- Number of transactions rises by 23 percent
- Prime yield stable at 4.5 percent in the third quarter – significant increase anticipated on the back of higher financing interest and bond yields

Frankfurt am Main, October 5, 2026 – Germany’s logistics real estate investment market recorded an overall transaction volume of €4.71 billion in the first three quarters of 2026, reflecting a year-on-year increase of five percent. Despite the macroeconomic challenges, the investment market is therefore continuing on its growth trajectory compared with the year before. These are the conclusions drawn from current analysis prepared by the global commercial real estate services company CBRE.

“This year we are experiencing a dynamic logistics investment market that is functioning smoothly in Germany. With a share of 74 percent, international capital remains an especially important pillar of market activity. This is evidence of international investors’ sustained high interest in the German market. At the same time, the new build segment in particular is having to deal with challenges as construction and financing costs have risen recently and lower purchase prices place an additional burden on the financial viability of developments. We are nevertheless seeing numerous transactions across an array of ticket sizes.”
Kai F. Oulds, Head of Industrial & Logistics Germany at CBRE

Although the proportion of large-scale transactions declined in the third quarter compared with the first half of the year, a look at the year-earlier period shows that they remain significantly higher.

“Large-scale deals remain an important part of market activity. At the same time, the overall increase in the number of deals shows that activity is not limited to major single-asset transactions. Despite the microeconomic challenges facing German industry, buyers are still very active. Demand, especially in the light industrial segment, is outpacing available supply.”
Tom Franke, Head of Logistics Investment at CBRE

“Logistics real estate prime yield was still holding steady at 4.5 percent at the end of the third quarter,” Franke says. “This level was also reflected in the transactions concluded at the end of September. We are nevertheless confident in expecting a significant increase in prime yield over the remainder of the year.”

Outlook for the full year
“We still seeing keen interest in buying that leads us to anticipate brisk market activity on the part of domestic and international investors wanting to diversify their multi-asset portfolios further by adding German logistics properties,” says Kristine Kühn, Senior Director Valuation Advisory Services at CBRE. “Numerous properties, also in the core and core plus segment, are still on the market and may possibly be brought over the line in the fourth quarter. The well-filled transaction pipeline therefore offers a sound foundation for a strong closing quarter. A transaction volume of seven billion euros is within range for the full year provided that the pending large-scale transactions are concluded as anticipated.”