SIGNIFICANT INCREASE IN OFFICE TAKE-UP
After a subdued first half of 2022, the Essen office market accelerated noticeably in the third quarter, achieving 47,000 m² in the last three months only, accounting for more than half of the current take-up to date. With a total take-up of 87,000 m² by the end of September, the result is slightly above the long-term average and a good 53% above the disappointing previous year's level. The decisive factor for above-average results often are large lettings beyond the 10,000 m²-mark, which were completely missing on the Essen office market not only at mid-year, but also in the Covid-19 pandemic years 2020 and 2021. In contrast, one major contract can be registered in the third quarter of 2022 in the form of the owner-occupier lettings of the University Hospital of Duisburg Essen (16,500 m²).