2024 proved to be a satisfactory year for our area's commercial real estate market, which demonstrated its resilience and performance in the current real estate market.
Figures at a glance:
Transactions: 37 transactions for space over 1,000 m², representing 36% of the surface area transacted, including 4 transactions for space over 3,000 m²
- Office space: take-up of 116,155 m², up 15% compared to 2023.
- Business premises and warehouses: 102,952 m² transacted, down slightly by 3% compared to 2023.
- Land: 113,297 m² of land transactions, with an average surface area of 5,115 m².
To review 2023 figures: click here
Office space market:
The market for office space in the Montpellier Métropole area shows take-up of 116,155 m², an increase of 15% compared to 2023. According to Christèle MARNAS, Montpellier Regional Director for Tourny Meyer, and 2024 spokesperson for the Commercial Real Estate Observatory: “This figure represents an increase of 15% compared to the same period in 2023, confirming the prominent position of France’s 7th largest city in terms of market volume.”
The Observatory's partners handled 74,581 m² of office space through 276 transactions.
The average surface area of office space transacted fell to 270 m² (compared to 333 m² in 2023), reflecting a trend towards flexibility (new ways of organizing work, telecommuting, space optimization, etc.).
Montpellier’s office space market continues to be primarily a rental market, representing 82% of transactions (83% in 2023, 77% in 2022). Pre-existing properties continue to dominate the market, accounting for 61% of transactions in 2024, as in 2023.
Noteworthy operations:
- CAP GEMINI – 2,549 m² in the UNPLUG building, Cambacérès district – BNP Paribas Real Estate
- HELIOS – 973 m² in the ESPACE CONCORDE building – FDI Services Immobiliers
- ENGIE GREEN – 4,112 m² in the TERRA building, Cambacérès district – Tourny Meyer
- EDH Higher Education – 1,509 m², Campus Millénium, Millénaire Business Park – Arthur Loyd
- LUNDI MATIN - 1,575 m² in the Millénaire Business Park – Norman Taylor
- SOGEA SUD BATIMENT – 1,395 m² in the “Le Cube” building in Mauguio – Tertia Conseils Entreprises
- SLOPE – 173 m² lease at the Creative City Museum – ALTEMED/Montpellier Méditerranée Métropole
- BIOPOLE EUROMEDECINE in Grabels, new facilities for companies including some from outside the area, taking up office and laboratory space: BIOMANITY (194 m²), CYTEA BIO (306 m²), STEM GENOMICS (243 m²), NEURINNOV (168 m²), MYCEA (115 m²) – ALTEMED/Montpellier Méditerranée Métropole
Business premises and warehouse market
2024 showed excellent results in the business premises/warehouse market, with 102,952 m² transacted (a slight decrease of 3% compared to 2023). Similarly to the office space market, the market for business premises continues to be mainly oriented towards leases (69% of the total surface area), while acquisitions represented 31% of transactions.
Pre-existing properties continue to dominate the market, accounting for 82% of transactions. Three transactions involving warehouses were completed, corresponding to a total surface area of 25,977 m². It should be noted that the Observatory had not reported any warehouse transactions in 2023.
Notable operations in 2024:
- MATERIALS DISTRIBUTOR – 4,400 m² in Lattes - ABC Immobilier d’Entreprise
- MEREDIS – 6,627 m² in Vailhauquès – TERTIA Conseils Entreprises
- BIT Groupe – 1,000 m² in the EMA building in Mauguio – Norman Taylor
- CAUPAMAT – 1,370 m² in Saint-Jean-de-Védas – Tertia Conseils Entreprises
- AUTOMOBILE DEALERSHIP – 1,400 m² on 5,500 m² land in Saint-Aunès – ABC Immobilier d’Entreprise
- EVOLUSOLAR – 1,707 m² in the EMA building, Airport Freight Zone – Tourny Meyer
- M6 – Audiovisual production subsidiary SND PRODUCTION, for 3,078 m² at Garosud - Tourny Meyer
- METALLO DETAIL – 625 m² in Baillargues – FDI Services Immobiliers
- NYSL/XFEET – 502 m² at the Prades-le-Lez workshops and VEAS Hannibal in Cournonsec – ALTEMED & Montpellier Méditerranée Métropole
- TERRATIS – 300 m² at VEAS PARC 2000 in Montpellier – ALTEMED & Montpellier Méditerranée Métropole
Commercial property market:
In 2024, transactions for land reached a total surface area of 113,297 m² (103,412 m² in 2023). The majority of transactions took place to the north (51%) and west (24%) of Montpellier.
Main operations:
Montpellier Métropole and ALTEMED successfully enabled several organizations to set up operations in business parks with commercial availability:
- INNOVATIVE DIAGNOSTICS: 9,111 m² of land acquired at the Parc Euromédecine science park in Grabels to create a multi-purpose building with 4,980 m² floor surface area.
- 3C MENUISERIE / SEV: 4,969 m² of land acquired at the Charles Martel ZAC commercial zone in Villeneuve-lès-Maguelone to create a multi-purpose building with 2,406 m² floor surface area.
- CIRRUS PEGASE: 10,429 m² of land acquired at the Charles Martel ZAC commercial zone in Villeneuve-lès-Maguelone to create a workspace program with multi-purpose facilities, business premises, and office space with 7,891 m² divisible floor surface area for sale.
About the Commercial Property and Real Estate Observatory for Montpellier and its Metropolitan Area:
The Commercial Property and Real Estate Observatory for Montpellier and its Metropolitan Area comprises twelve members: ABC Immobilier d’Entreprise, Arthur Loyd, BNP Paribas Real Estate, FDI Services Immobiliers, Norman Taylor, Tertia Conseils Entreprises, Thélène Entreprises, Tourny Meyer Méditerranée, Transac Tertiaire, ALTEMED/SERM/SA3M group, Montpellier Méditerranée Métropole, and Agglomération du Pays de l’Or.
The Observatory is managed by CERC Occitanie.
For a detailed analysis of the report’s results, please contact Christèle MARNAS, Montpellier Regional Director for Tourny Meyer and 2024 spokesperson for the Commercial Real Estate Observatory – christelemarnas@tournymeyer.fr.
