STRONG THIRD QUARTER, BUT STILL BELOW AVERAGE
After a subdued first half of the year, the Düsseldorf office market has returned with strong take-up in the third quarter. While at the middle of the year there was still a lack of around 46% compared with the previous year's result and 47% compared with the long-term average, in the third quarter take-up cought up significantly at 188,000 m² so that the current figure is only 13% below prior years result and 31% lower than long-term average. With 93,000 m² in the last three months, an above-average result was achieved in comparison with recent years. This high volume is primarily attributable to the owner-occupier deal concluded by ÖRAG/Deutsche Rückversicherung for 27,100 m² in the Twin Cubes project in Heerdt. However, even without this major deal, a number of other contracts with more than 2,000 m², such as the contract concluded by the Amt für Gebäudemanagement in the "élise", would have resulted in the strongest period of the year to date. In the submarket overview, the office market zones Düsseldorf West/Linksrheinisch (35,800 m²), CBD/Banking District (27,700 m²) and Kennedydamm (21,700 m²) are in the lead, not least due to the larger contracts concluded here.