MANY DEALS, BUT LIMITED TAKE-UP YET
The Düsseldorf office market is still subdued at the end of the first half of 2021. The currently registered take-up of 108,000m² is almost a third below that of the previous year and a good 42% below the long-term average. However, the seemingly drastic decline is somewhat put into perspective when one takes a look at the number of deals: with more than 230 registered transactions, the market is even more active in this respect than in the first six months of 2019, when the previous take-up record was set. A take-up that is at least average in a long-term comparison was missed primarily because there have not been any deals in the >5,000 m² segment yet. The largest deal of the year was the lease of 4,200 m² by Mitsubishi Chemical Europe in the new Trigon development. The lack of large deals can be attributed in particular to the challenging market environment for many companies in the wake of the Corona pandemic, which often leads to a wait-and-see attitude. With the rapid progress of the vaccination campaign, however, this should change noticeably in the coming months.