Thursday, 30 July 2026
Demand for logistics and industrial space across Germany’s North Rhine-Westphalia (NRW) remained strong during the first half of 2026, with total take-up reaching 624,300 sqm, making it the second-best first-half performance since 2014, according to REALOGIS.
The result covers the three major logistics markets of Düsseldorf, Cologne and the Ruhr region. Warehouse space accounted for 578,400 sqm, or 93% of all take-up, representing a 25% increase compared with the first half of 2025 and also standing a quarter above the five-year average.
The five largest transactions represented almost one-third of total market activity. Among the largest deals were ID Logistics, which leased 70,000 sqm in Cologne, Goodcang Logistics, with two transactions totalling 71,920 sqm across Cologne and the Ruhr region, Cencora, which leased 34,460 sqm, and Blitz Distribution, which secured 22,890 sqm in the Ruhr area.
According to REALOGIS, the strong performance was driven primarily by the availability of suitable existing warehouse space rather than broad-based market expansion. Properties ready for immediate occupation continued to attract the strongest demand.
The Ruhr region remained NRW’s largest logistics market, accounting for 255,500 sqm, or 41% of total take-up. Düsseldorf followed with 193,000 sqm (31%), while Cologne recorded 175,800 sqm (28%). Compared with the same period last year, Cologne posted the strongest growth, with take-up more than doubling, while the Ruhr region also expanded. Düsseldorf was the only major submarket to record a decline.
Existing buildings continued to dominate leasing activity, accounting for 79% of all transactions. Brownfield developments represented 18%, while greenfield projects made up just 3%. No owner-occupier transactions were recorded during the first six months of the year.
Logistics and distribution companies remained the largest occupier group, generating 367,800 sqm, or 59% of total demand. Retailers accounted for 128,200 sqm, including 83,200 sqm leased by e-commerce businesses. Manufacturing companies represented 92,600 sqm, while utilities and other occupiers made up the remaining 35,700 sqm.
Large transactions continued to dominate the market. Leases exceeding 10,000 sqm accounted for 410,450 sqm, representing two-thirds of all take-up, underlining continued demand from major logistics operators and retailers.
Rental levels remained stable across all three logistics markets. Düsseldorf retained the highest rents in NRW, with prime rents at €8.25 per sqm per month and average rents at €7.00 per sqm. Cologne recorded prime rents of €8.00 per sqm and average rents of €6.85 per sqm, while the Ruhr region stood at €7.75 per sqm and €6.50 per sqm respectively. All rental levels were unchanged from both the end of 2025 and the first half of last year.
