Dresden | ca. 3.300 m² Kalthalle | Betonrampe mit 12 Toren | Crossdock
ID: 1039782DetailsHH-Billbrook, ca. 600 m² große, beheizte Lager-/Produktionsfläche auf Rampenniveau, Büro optional
ID: 1036971Detailsca. 500 m² Lagerfläche mit Lastenaufzug
ID: 1044484DetailsMunich, production and warehouse space for rent
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ID: 1030615DetailsGladback, warehousing space for wholesale or retail for rent
ID: 95769DetailsGladback, warehousing space for wholesale or retail for rent
ID: 1021247Details
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Press Release
Cologne region: REALOGIS analyses the market for logistics and industrial properties for the full year 2024
- Take-up climbs by 65 % year-on-year to 278,000 m²
- New buildings on greenfield sites increase land take by a factor of 8
- Four out of five square metres were rented in big box properties
- Sector ranking: Retail and logistics almost on a par as space takers
- Ranking of size categories: Large spaces decisively characterise market activity
- Prime rent without price momentum for the first time
- Outlook: 2025 / 2026 will see a number of speculative developments come onto the market
"With an increase of 109,900 m² or +65%, Cologne's industrial and logistics property rental market for owner-occupation and for rent in 2024 clearly topped the previous year's result and is 12% above the current 5-year average of 248,700 m²," comments Bülent Alemdag, Managing Director of Realogis Immobilien Düsseldorf GmbH, which is responsible for all top NRW markets.
With take-up of 313,000 m², the past year was the second-best overall year in the past five years after 2021. The major deals signed by the retail company Fressnapf (72,000 m²), the e-commerce company Woltu (39,000 m²) and the logistics company Goodcang (30,000 m²) played a key role in this.
As in the previous year, Cologne was a pure rental market; no transactions were concluded by owner-occupiers.
Almost two thirds of all lettings, or 62%, took place in existing space in 2024: They increased by 17,500 m² year-on-year to a take-up of 172,400 m² (FY: 2023: 154,900 m² or 92 %). New builds on greenfield sites accounted for 105,600 m² or 38 %. Coming from 13,200 m² or 8 %, they recorded a significant increase of 92,400 m² or an eightfold increase. As in the previous year, however, no contracts were concluded on former brownfield sites.
"In 2024 as a whole, more than 100,000 m² of newly constructed logistics space was let on greenfield sites and revitalised brownfield sites in the Cologne region. This shows that speculatively constructed new buildings in strategically good locations continue to perform well," says Bülent Alemdag.
Key take-up driversCompanyTake-upIndustryType Fressnapf 72,000 m² Retail/Wholesale New building (greeenfield) Woltu 39,000 m² E-Commerce Existing building Goodcang 30,000 m² Logistics/Distribution New building (greeenfield) Quanta Computer Inc. 22,500 m² Manufacturing Existing building Blitz Distribution GmbH 20,000 m² Logistics/Distribution Existing building
In terms of building type, deals in big box properties clearly dominated with a share of 84% or 234,200 m² (2023: 63,900 m² or 38%). This was followed at a considerable distance by transactions in properties that are neither big boxes nor business parks (FY 2024: 25,400 m² or 9 %; FY 2023: 63,700 m² or 38 %).
"In 2024, the Cologne market was characterised by a clear focus on large spaces. Four out of five square metres were taken up in big box space, including all five major deals, which alone contributed 183,455 m²," reports Bülent Alemdag.
Business park lettings continue to be the least relevant on the Cologne market with 18,400 m² or 7%, compared to 40,500 m² or 24%. Bülent Alemdag: "This is due to the fact that existing tenants are renewing their existing leases, which means that only a small amount of existing space is coming onto the market for letting. At the same time, there are few alternative products that are also economically attractive for occupiers in the current situation."
Sector ranking: retail and logistics are almost on a par in taking-up space
The strongest sector among those taking up space in 2024 was Retail/Wholesale with 121,300 m² or 44%. The year-on-year increase was 53,800 m², which corresponds to an increase of 80% (FY 2023: 67,500 m² or 40%). The 5-year average of 107,000 m² was exceeded by 14%.
The largest contribution, 78,600 m² or 65%, was again made by companies that are predominantly part of the traditional retail sector (FY 2023: 40,300 m² or 60%). E-commerce companies accounted for 42,500 m² or 35% (FY 2023: 27,200 m² or 40%).
The take-up by Fressnapf (largest take-up in NRW in 2024 with 72,000 m²) and Woltu (38,955 m²) contributed a total of 110,955 m² or 91 % of take-up in the Retail/Wholesale category. The category was therefore heavily dependent on these two deals: In the traditional retail sub-category, the contribution from Fressnapf was also 91%, while Woltu contributed 92% to e-commerce take-up.
The Logistics/Distribution sector followed close behind the retail sector with space absorption of 117,100 m² or 42% (FY 2023: 44,900 m² or 27%). The most significant absolute growth in the sector analysis of 72,200 m² more than doubles and helps the sector to top the 5-year average of 86,210 m² by 36 %. Major agreements signed by Goodcang (30,000 m²) and Blitz Distribution GmbH (20,000 m²) accounted for an accumulated 50,000 m² and 43 % of take-up respectively.
The Manufacturing sector followed in third place with 38,100 m² or 13% (FY 2023: 6,600 m²), which is almost on a par with the 5-year average of 37,000 m².
In last place is the collective category "Other" with 1,500 m² or 1 % (coming from 49,100 m² or 29 % in 2023, partly due to the 28,000 m² signed by the technology and service provider Computacenter).
Ranking of the size categories: Large spaces characterise the market
In 2024, the Cologne market for industrial and logistics properties was clearly characterised by large spaces of 10,001 m² or more, which accounted for 84% of total take-up or 234,200 m². Coming from 85,900 m² or 51 %, this is an increase of 148,300 m² or almost a tripling compared to the previous year.
The size category between 5,001 and 10,000 m² follows with 19,200 m² or a share of only 7 % of total take-up (FY 2023: 21,600 m² or 13 %). The category of medium-sized units between 3,001 and 5,000 m² accounted for a total take-up of 16,400 m² or 6 % (FY 2023: 37,500 m² or 22 %). There was also a decline in the category of small to medium-sized spaces between 1,000 and 3,000 m² to currently 8,000 m² or 3 %, down from 23,100 m² or 14 %. Very small units of less than 1,000 m² are still in last place with 200 m² or a share of less than one per cent.
Prime rents without price momentum for the first time
At €8.00/m², the prime rent stagnated at the previous year's level. The 5-year average of €6.96/m² was exceeded by 15 %. The average rent rose by 9 % year-on-year to a provisional high of € 6.85/m², up from € 6.30/m². The 5-year average of € 5.73/m² was exceeded by 20 %.
Outlook
"2025 / 2026 will see a number of speculative developments on the NRW submarket of Cologne, which will be offered at high prices. It remains to be seen how these products will establish themselves on the market. Developments in very good locations are still a very rare commodity," reports Bülent Alemdag.
Press contact REALOGIS:
SH/Communication - Agency for Public Relations
Silke Westermann
Tel: +49/211/53 88 3-440
E-mail: s.westermann@shcommunication.de
Company contact REALOGIS:
REALOGIS Holding GmbH
Silja Schuppler
Marketing Manager
Leopoldstraße 154, 80804 Munich
Phone: +49/89/51 55 69 17
E-mail: s.schuppler@realogis.de
www.realogis.de
REALOGIS. No. 1 for industrial and logistics properties
The REALOGIS Group is Germany’s leading player for the consulting and brokering of industrial, logistics and commercial properties and stands for 20 years of success. Founded in 2005 as a pioneer for the asset class of logistics and industry, the owner-operated group has enjoyed healthy growth, is crisis-resistant and knows the German market like no other. In 2021 Realogis generated nearly 1,3 million m² of usable space alone in the letting segment. The net commission revenue of all services in the financial year 2021 are EUR 25 million.
In the 2023 financial year, Realogis' audited net commission revenue across all services was around 15.76 million euros. In the lettings segment alone, the group generated a turnover of 982,232 m² in 2023, which corresponds to 16.5% of the total space turnover of all market participants in Germany in that year and also represents a doubling of Realogis' market share since 2016.
Realogis is represented in the country’s seven top logistics locations of Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Leipzig, Munich and Stuttgart, while a dedicated organisational unit ensures transparency in around 15 additional regional logistics markets. 70 real estate professionals advise national and international companies from the fields of logistics, e-commerce, retail and industry as well as private and institutional investors. Quick, flexible, regional, customer-oriented and with a high volume of transactions.
REALOGIS four core competencies are arranging highly creditworthy tenants for new and existing properties, assisting investors with property investments and project development of greenfields and brownfields, outstanding service for locating or selling sites, and the development and implementation of holistic property strategies.
In short, REALOGIS creates more room for its customers’ success in every sense.