TAKE-UP SLIGHTLY ABOVE BOTH THE PREVIOUS YEAR AND THE 10-YEAR LEVEL
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The Düsseldorf market for logistics space gained significant momentum in the summer months. In the third quarter alone, take-up amounted to 98,000 m², while only around 92,000 m² found a new occupier in the entire first half of 2024. Accordingly, take-up totalled 190,000 m² by the end of September. The result is therefore almost 6% above the previous year's level and 2% above the 10-year average.
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Alongside Cologne, Düsseldorf is the only top logistics market in Germany that is performing above its long-term level in 2024 despite the ongoing challenging conditions. In all other markets analysed, momentum is significantly below average due to the continued lack of economic backing. In these markets, the fact that companies are currently postponing rental decisions and delaying potential relocations, not least due to the lack of vacant space, and often opting to extend their leases, is particularly noticeable. In Düsseldorf, on the other hand, this rather wait-and-see attitude is contrasted by extensive new leases.
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While the prime rent has remained unchanged at the high level of €7.90 per m² for a year, the average rent rose by €0.10 per m² to €6.60 per m² in the third quarter. This market trend reflects, on the one hand, the unchanged low supply of space and, on the other, the rising demand for higher-quality space, particularly ESG-compliant space.