Equally high demand for existing and new space
Existing properties and deals involving new build properties accounted for almost the same share of take-up (245,488 m²/47.3% and 238,502/45.9% respectively). At 35,440 m²/6.8%, brownfields played a less important role.

More than three quarters of all newly used space was in big boxes – i.e. large space units of 10,000 m² or more mainly used for logistics and with a maximum office share of 20% – and this played by far the largest role for logistics, forwarder, retail and industrial companies in the Ruhr region at 403,197 m². New contracts in business parks totalled 16,595 m²/3.2%.

According to the analysis by Realogis, the Ruhr region remained predominantly a tenant market with take-up of 419,430 m²/80.7%, compared to owner-occupiers who accounted for 100,000 m²/19.3%.

Sector ranking: Logistics/distribution share up 16.5 percentage points
The leading sector among users in 2022 was logistics/distribution at 51.5%/267,623 m², which came in second in the previous year at 241,500 m²/35%. Of all the sectors, it saw the most significant upturn in its relative share (+16.5 percentage points), while also being the only sector to report absolute take-up growth of 10.8%/a 26,000 m² increase against the previous year.

The ITG deal (50,000 m²) not only represents one of the largest deals in the year as a whole in the logistics/distribution category, together with WM Group (29,423 m²) and ALT Finecom (28,000 m²) it also contributed a combined 107,423 m²/40.1% to total up-take in the sector in 2022.

Retail, the previous number one, is ranked second at 218,774 m²/42.1% (2021: 379,500 m²/55%) and saw its share decline by 12.9 percentage points and take-up by 42.4%. “This means that the amount of space newly occupied by retail companies was 160,000 m² lower in 2022 overall. By way of comparison, use by retail companies had consistently been over the 300,000 mark since 2019,” said Bülent Alemdag.

Picnic and LIDL, the two other deals around the 50,000 mark (alongside ITG, these are the largest in the year as a whole), accounted for a total of 100,000 m²/45.7% of take-up in retail.

E-commerce was top of the retail category with 120,072 m²/54.9%, followed by traditional retail at 98,702 m²/45.1%.

In third place is the manufacturing sector with 21,117 m² /4.1% (2021: 27,600 m²/4%, fourth place). The “Other” category went from third to fourth place at 11,916 m²/2.3% (2021: 41,400 m²/6%).

Size class ranking: Units of 10,001 m² or more dominate 85% of the market
The Ruhr region was shaped primarily by deals for large spaces  of 10,001 m² or more in 2022, which accounted for 443,836 m² and thus more than four out of every five square metres taken up (85.4%). All top take-ups were in this category and made up almost half of take-up in the size category (207,423 m²/46.7%).

The size category of 5,001 to 10,000 m² was responsible for 8.1% of take-up at 41,978 m², putting it in second place.

“Spaces measuring 5,000 m² or more were responsible for 93.5% of total take-up in the Ruhr region in 2022,” said Bülent Alemdag.

The class of medium-sized space between 3,001 and 5,000 m² comes in fourth place with take-up of 10,926 m²/ 2.1%. At 18,560 m², small to medium-sized spaces of between 1,000 and 3,000 m² accounted for a total of 3.6% and ranked third last year. The smallest spaces of less than 1,000 m² bring up the rear with 4,130 m²/0.8%.

Unprecedented increase in prime and average rents
The growth in prime rents in recent years continued in 2022 and accelerated again considerably. By the end of 2022, they climbed by 18.2% to the provisional high of EUR 6.50/m², compared to EUR 5.50/m² previously. This is the biggest increase that Realogis has reported since its records began. The five-year average of EUR 5.47/m² was exceeded by 18.8%.

Average rents have increased more than prime rents in percentage terms, rising by 22.1% from EUR 4.30/m² in 2021 to the current high of EUR 5.25/m². “Average rent at the end of 2022 was thus almost the same as prime rent in 2021,” said Bülent Alemdag.

According to Realogis, in no year has the average rent in the Ruhr region risen anywhere near as much as in 2022. The last significant increase was in 2021, when average rent climbed from EUR 3.95/m² to EUR 4.30/m² (+8.9%).

The five-year average of EUR 4.28/m² was exceeded by 22.1%.

Forecast
“The warehouse and logistics property market in the Ruhr region will continue to experience a shortage of space in 2023,” reported Bülent Alemdag. “However, there will be little speculative new building, and the extremely high rent rises seen in recent years will take a break.”

REALOGIS media contact:
Silke Westermann
Senior public relations specialist
Tel: +49/211/53 88 3-440
e-mail: s.westermann@shcommunication.de

REALOGIS company contact:
REALOGIS Holding GmbH
Silja Schuppler
Marketing
Rundfunkplatz 4, 80335 Munich
Tel: +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. 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 2021, REALOGIS also won the German Real Estate Prize in the “Commercial Player” category, which honours companies for their outstanding commitment, creativity, innovative strength and sustainability.

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. Further information: https://www.realogis.de/