RESULT AT AVERAGE LEVEL
- Düsseldorf's warehouse and logistics market achieved a take-up of 180,000 m² in the first three quarters of the year. After a strong first half of the year, letting activity slowed somewhat in the third quarter, resulting in a performance that is around 21 % below the high prior-year result, but nevertheless remains just 4 % below the long-term average.
- While demand remains fundamentally stable, the market continues to lack high-quality space available at short notice. A tendency towards longer letting processes in conjunction with higher rents, the increasing importance of ESG issues and insufficient (speculative) new construction activity adversely affects the momentum.
- The supply shortage as well as the increased costs have led to a further increase in rent levels over the past twelve months. At the end of the third quarter, the prime rent was quoted at 7.50 €/m² (+4 %) and the average rent has risen to 6.10 €/m² (also +4 %).
LOGISTICS FIRMS WITH STRONG RESULT
- The distribution of take-up by size category highlights the differences compared with the same period last year when an owner-occupier development by Lidl in Grevenbroich alone contributed almost 51,000 m² to take-up. At present, the large-volume segment accounts for only 18 % due to supply and thus remains below the ten-year average (25 %). By contrast, the two categories between 8,000 and 20,000 m² showed particularly strong take-up, with 30 % and 28 % respectively.
- Logistics firms dominate the sector ranking with more than half of the take-up (54 %). The largest deals of the year so far by GXO Logistics in Dormagen (32,200 m²), Engemann in Hilden (17,000 m²) and the owner-occupier ITC Logistic in Mönchengladbach (13,000 m²) have made a significant contribution to this. As in other locations, retail companies are underrepresented by long-term comparison at 20 %, while the industry/manufacturing sector is on average at 18 %.