COLOGNE STARTS THE NEW YEAR WITH RECORD RESULTS
The Cologne office market achieves a very successful first quarter: The best start to the year ever was registered with a take-up of 87,000 m². The result is therefore well above the previous year's figure (57,000 m²) and the 10-year average (55,000 m²). The two submarkets City (38,800 m²) and Ossendorf/Nippes (23,500 m²) accounted for the majority of turnover. Furthermore it should be stressed that the large number of contracts in the smaller and medium-sized segment up to 2,000 m² makes this strong result possible. To date, Sparkasse KölnBonn (15,800 m²) in Ossendorf/Nippes contributed the largest lease contract. Despite the record turnover, however, a dilemma in the Cologne office market should not be ignored: Once again, vacancies have fallen, making it increasingly difficult for medium-sized and larger requests to find modern space. Against this backdrop, the high momentum in the first quarter is all the more impressive.
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