Industrial and trade parks: Stable demand despite increasing professionalization
PRESS RELEASE
September 18, 2026
Industrial and trade parks: Stable demand despite increasing professionalization
• Approximately 284,400 square meters of commercial park space were completed in the first half of 2026.
• A broad user base and flexible space concepts ensure comparatively stable rental income.
• Investors and banks evaluate the segment differently: location quality, suitability for third-party use and user diversification are key criteria.
September 18, 2026 – Despite the continuing challenging economic environment, business and industrial parks are developing steadily and are gaining further importance in terms of users, investment, and financing. Key drivers include the broad user base, flexible space concepts, urban locations, high potential for alternative uses, and the increasing professionalization of the sector.
This was the conclusion reached by Sven Carstensen MRICS, Managing Director of bulwiengesa, Henning Nietz, Managing Director of SQUARE PARKS, Andreas Pfaff, Head of Domestic North/West at Berlin Hyp, and Niklas Räther, Executive Director and Head of Investment Germany at AEW Invest, in a webinar organized by RUECKERCONSULT entitled: “Resilient through diversity: Staying stable through the crisis with business parks and commercial yards”.
Industrial parks and business parks are increasingly establishing themselves as a new construction product.
Sven Carstensen, Managing Director of bulwiengesa, says: “Traditionally, our business parks and commercial courtyards have focused heavily on existing properties and the repurposing of former industrial sites. However, we are now seeing this segment gradually establishing itself in new construction as well. At the same time, demand and tenant loyalty remain stable, while the supply of space is limited. As a result, rents are continuing to rise gradually.”
In the first half of 2026, according to bulwiengesa, approximately 284,400 square meters of commercial park space were completed. Leasing activity also remains stable: Take-up in the first half of 2026 was around 325,800 square meters. For the full year, bulwiengesa expects rising sales with continued stable demand and gradually increasing rents.
A broad user base supports resilience.
Henning Nietz, Managing Director of SQUARE PARKS, says: “We don’t see a single user cluster on which business parks depend. Our tenants come from the
Crafts and manufacturing, as well as e-commerce, last-mile delivery, and technology-oriented sectors. This very diversity of industries ensures that we have hardly any concentration risks at the property level and can better compensate for economic fluctuations.”
SQUARE PARKS primarily develops warehouse units ranging from approximately 400 to 1,500 square meters with supplementary office space. These can be used for production, storage, or, in some cases, showroom purposes. According to Nietz, in addition to flexibility in terms of space, high-quality construction, modern building technology, and an urban location are becoming increasingly important criteria for accessibility for employees, customers, and suppliers.
Investors focus on third-party usability and location quality.
From the perspective of institutional investors, urban business parks complement traditional logistics properties, particularly where smaller and more flexible space sizes are required. Niklas Räther, Executive Director and Head of Investment Germany at AEW Invest, categorized the segment as a diversification opportunity within the logistics market: “Business parks address a space demand that traditional large-scale logistics properties cannot meet. For us, this segment therefore represents a sensible diversification strategy, especially in the size range of approximately 1,000 to 3,000 square meters per unit. Crucial factors are a strong focus on location and a property that is flexible in its use and suitable for a wide range of alternative uses.”
Financing: Professionalization increases acceptance
The segment has also become more established on the financing side. Andreas Pfaff, Head of Domestic North/West at Berlin Hyp, says: “This asset class has steadily professionalized from a niche market. It has grown gradually within our portfolio since around 2015 and is now a significant component of our loan portfolio. We view the segment very positively, particularly due to its resilience and future viability.” According to Pfaff, key factors include a professional and creditworthy investor or developer, a solid track record, professional asset management, and compelling location and property qualities. He adds that medium- to long-term investment financing always requires a property-specific and individualized assessment.
The discussion also made it clear that the higher management costs of business parks are part of the investment case. Multi-tenant and mixed-use structures require active management of leasing, operations, and tenant composition. "This is precisely why professional asset and property management is gaining importance for investors and banks," says Henning Nietz of SQUARE PARKS, which is part of
the ADOLF WEBER Group can draw on its many years of experience and existing structures in asset and property management.
Overall, the webinar demonstrated that commercial and industrial parks are evolving from a niche segment heavily reliant on existing buildings to an increasingly standardized and institutionally recognized investment product. Rising completion figures, stable take-up rates, a broad user base, and growing acceptance among investors and banks all point to further professionalization of the segment.
Press contact
RUECKERCONSULT GmbH
Susanne Franz
Wallstrasse 16, 10179 Berlin
Tel: +49 151 276 165 64
ABOUT AEW
AEW is one of the world's largest real estate investment and asset managers with €73.2 billion in assets under management (as of June 30, 2026).[1] With over 815 employees and main offices in Boston, London, Paris, and Hong Kong, AEW offers a wide range of real estate investments, including pooled funds, individual funds, and REITs across the entire spectrum of investment strategies. AEW is the real estate investment management platform of Natixis Investment Managers, one of the world's largest asset managers.
In Europe, AEW manages real estate assets totaling €34.8 billion, held in funds and separate accounts (as of June 30, 2026). AEW employs over 500 people across twelve locations throughout Europe and boasts a long track record of successfully implementing core, value-add, and opportunistic investment strategies for its clients. The transaction volume (purchases and sales across Europe) over the past five years amounts to €13 billion.
1) As of June 30, 2026. AEW comprises (i) AEW Capital Management, LP and its subsidiaries and (ii) the affiliated company AEW Europe and its subsidiaries. AEW Europe and AEW Capital Management, LP are jointly owned by Natixis Investment Managers and operate independently of each other.
AEW's total assets under management (AUM) of €73.2 billion comprise €34.7 billion in assets managed by AEW Europe and its affiliates, €2.4 billion in regulatory assets managed by AEW Capital Management, LP, and €36.1 billion in assets for which AEW Capital Management, LP and its affiliates provide (i) investment management services for a fund or other vehicle that does not primarily invest in securities (e.g., real estate), (ii) non-discretionary investment advisory services (e.g., model portfolios), or (iii) fund management services that do not include investment advice. Totals may vary due to rounding.
About BerlinHyp
Berlin Hyp is a leading provider of commercial real estate financing and the CRE competence center of LBBW. With a direct presence in Germany and the core markets of Europe and North America, comprehensive expertise, and modern processes, it supports investors and real estate companies in achieving their goals. It combines the agility of a specialist lender with the stability and broad range of services of a leading mid-sized universal bank. It provides German savings banks with a wide range of commercial real estate financing products. With this comprehensive service portfolio and driven by the ambition to be the first choice for commercial real estate financing, it creates new opportunities.
About bulwiengesa
bulwiengesa is one of the leading independent real estate analysis companies in continental Europe. For 40 years, bulwiengesa has supported its partners and clients with real estate-related issues, including location and market analyses, comprehensive data services, strategic consulting, and customized appraisals. Since the end of 2024, the company has been part of the Scout24 Group. bulwiengesa's data is used, among others, by the Deutsche Bundesbank for the ECB and the BIS.
About SQUARE PARKS
SQUARE PARKS is a sister company of the long-established Hamburg-based ADOLF WEBER real estate and project management company and represents the development of a new generation of urban business and industrial parks. The company focuses exclusively on the construction of flexible, light industrial spaces, particularly suitable for small and medium-sized enterprises, craft businesses, and start-ups. In addition to project development, SQUARE PARKS also manages the assets of completed properties, ensuring long-term support and value stability. With a focus on ESG-compliant construction methods, high space flexibility, and sustainable usage concepts, the company develops projects in prime locations throughout the DACH region (Germany, Austria, and Switzerland). The business model offers investors the opportunity to participate in project developments at an early stage.