📈 Germany office deals rise as logistics still leads

Germany’s office investment market reached €4.6 billion in transaction volume in the first nine months of 2026, up 14% year on year, according to CBRE. The update came alongside evidence that logistics and industrial assets remained the strongest commercial property segment overall.

CBRE said the office market’s improvement marked a clear uptrend through the first three quarters, while separate market commentary showed logistics real estate at roughly €4.71 billion over the same period. The figures indicate that capital is still rotating toward logistics, even as offices regain some momentum in Germany’s investment market.

Why it matters for investors

The data suggests that Germany’s office sector is not leading the recovery, but it is re-entering the conversation for institutional capital after a prolonged slowdown. For investors, the more important signal is that pricing and liquidity dynamics remain more favorable in logistics, where demand has stayed stronger and transaction volumes continue to edge ahead of offices. That split points to a market in which select office assets may attract renewed interest, but logistics still defines the core allocation theme.

➡️ German office investment volume has turned higher, but logistics remains the larger and more resilient capital destination.

➡️ The sector gap is narrowing, yet the capital rotation toward industrial property is still intact.

The German commercial investment market is showing a two-speed recovery, with offices improving while logistics continues to anchor investor demand.