Logistics market Ruhr Region

BEST HALF-YEAR RESULT SINCE 2016

• In the first half of 2022, the Ruhr region logistics market seamlessly continued its success story of recent years and exceeded the previous year's result by 76 % totaling a take-up of 307,000 m². Overall, the 300,000 m² mark was surpassed for the second time after only six months and the long-term average was also significantly outperformed (+38 %).
• The very good result was driven by the second quarter, which accounts for 61% of take-up and provides two large-volume deals in new buildings with 50,000 m² each in Oberhausen for the logistics firm ITG and the online supermarket Picnic.
• The high proportion of new buildings (61%) is also reflected in the development of the prime and average rents, which increased once again to 5.80 €/m² and 4.75 €/m², respectively, against the background of sharply rising construction costs.

RETAIL AND LOGISTICS DRIVE UP THE RESULT

• The polycentric structure of the Ruhr region offers both retail and e-commerce as well as logistics firms optimal location conditions, which was once again reflected in the take-up in the first half of the year: Both sectors were able to contribute a very high volume of over 100,000 m² each to the overall result.
• Retail companies take the lead, with players from the online and offline food sector (e.g. Rewe, Knuspr, Picnic), but also from the fashion sector (including JD Sports), generating 180,000 m² and a share of 59%. Logistics firms account for 112,000 m² or 37%, while production companies have only recorded a take-up share of 5% so far.
• Within the size categories, the big deals (> 20,000 m²) with an above-average share of 54 % has to be mentioned as a decisive driver of the very good result.

PROJECTS PRE-LET, EXISTING SPACE RARELY VACANT

OUTLOOK

• The demand situation in the Ruhr region can still be rated as very good and is continually stimulated by the e-commerce sector and the restructuring of supply chain processes in particular.
• However, the economic and geopolitical uncertainties as well as the continuing supply shortage in the most sought-after locations in the Ruhr region are possible limiting factors for high take-up in the second half of the year. Projects that are already pre-let long before completion and the increasing importance of lease extensions in the stock sector contribute decisively to this development.
• Against this background, it is not surprising that the upward trend in rents is likely to continue.