Executive Summary

The market for small-scale business parks is developing into an independent asset class within corporate real estate. Units between 150 and 300 square metres in particular benefit from structural shifts: remote work has increased demand for decentralised, well-connected workspaces, while rising construction costs limit new supply.

Market Development 2024–2026

Following a period of cautious investment sentiment in 2023 and 2024, the small-format commercial park segment shows renewed momentum in 2025 and 2026. Several factors contribute to this recovery:

  • Hybrid Work Models: Companies are seeking satellite offices that reduce commute times without the cost of city-centre leases.
  • Limited New Construction: Rising building costs (up 18–22 % compared to 2021) constrain new development, keeping vacancy low in existing parks.
  • Municipal Zoning: Smaller municipalities increasingly designate commercial zones near transport hubs, creating new supply in previously underserved areas.

Demand Profile

Typical tenants for units between 150 and 300 m² include:

  • Regional service providers and consultancies
  • IT and digital agencies
  • Craft businesses with showroom or storage needs
  • Medical or therapeutic practices requiring accessible ground-floor space
  • Start-ups and scale-ups moving out of co-working environments

The 150–300 m² segment occupies a structural gap: too large for most co-working solutions, too small for institutional logistics tenants.

Rental Levels

Rental levels vary significantly by region, micro-location, park quality, and connectivity:

| Region | Range (€/m²/month) | Trend | |---|---|---| | Tier-1 metro periphery | 8.50–12.50 | Stable to rising | | Tier-2 / Ruhr region | 6.00–9.50 | Rising moderately | | Rural / secondary locations | 4.00–6.50 | Stable |

Parks with modern energy standards, EV charging, fibre connectivity and flexible lease terms command premium rents in all segments.

Investment Perspective

For investors, small-format business parks offer:

  • Diversified Tenant Risk: Multiple smaller tenants instead of a single anchor.
  • Low Vacancy Risk: Structurally limited supply in the segment.
  • Moderate Capital Requirements: Smaller lot sizes compared to logistics or office towers.
  • Operational Intensity: Active management required for multi-tenant parks.

Outlook 2027+

The segment is expected to continue growing moderately. Key trends to monitor:

  • ESG compliance requirements for older park buildings
  • Municipal infrastructure investment (broadband, public transport)
  • Potential regulatory changes affecting commercial zoning
  • Energy cost developments and their impact on occupancy costs

Methodology

This report is based on market observations, publicly available transaction data, and regional rental market analyses. It does not constitute investment advice. Individual investment decisions should be supported by professional due diligence.