BNP Paribas Real Estate publishes logistics market figures for the first quarter of 2023 - Strong first quarter on the Düsseldorf logistics market

Düsseldorf, 24 April 2024 - While the difficult economic environment on the nationwide logistics market was reflected in a subdued first quarter, the first three months of the year in Düsseldorf saw the best interim result in the last ten years. With take-up totalling 67,000 m², the Düsseldorf logistics market had a good start to the year, both in a long-term comparison (around 47,000 m²; +41%) and in the ranking of the top markets. These are the findings of the analysis by BNP Paribas Real Estate.

"The decisive factor here is the year-on-year increase in average space size, which meant that the moderate number of transactions did not play a significant role. No further increase in rents has been observed since the third quarter of 2022. In a 12-month comparison, however, rents rose further by 7% to €7.20/m² at the peak and 4% to €5.85/m² on average," explains Christopher Raabe, Managing Director and Head of Logistics & Industrial at BNP Paribas Real Estate GmbH.

Medium-sized deals, logistics companies and retail strong

Looking at the composition of take-up, logistics service providers and retail companies have emerged as the segments with the most significant contributions to earnings to date in terms of sectors and deals between 12,000 and 20,000 m² in terms of size.
In terms of demand groups, logistics providers have taken the lead in the first quarter with just under 46%, ahead of retailers with a good 35%. Both sectors are benefiting from deals in the highest-turnover segment of medium-sized deals between 12,000 m² and 20,000 m², which generated almost 55% of the overall result.  It is pleasing that some of the larger deals were realised in the portfolio segment, which is not the norm due to the lack of supply, particularly in the larger categories. Overall, existing properties contributed around 63 % to market activity.

Prospects

"Against the backdrop of the challenging overall economic situation, the Düsseldorf logistics market was able to send a positive signal for the rest of the year with an excellent first interim result. Overall, the Düsseldorf market area is benefiting from several well-connected sub-regions such as Hilden, Meerbusch, Dormagen and Mönchengladbach, which may not be able to compensate for the supply shortage in the core area, but can at least mitigate it somewhat. All of the aforementioned municipalities also contributed to take-up in the first three months. In addition, e-commerce tenants in particular are increasingly subletting parts of their space, which should temporarily alleviate the pronounced supply shortage. Further slight increases in rents cannot be ruled out," says Bastian Hafner, Head of Logistics & Industrial Advisory at BNP Paribas Real Estate GmbH.

Strong first quarter on the Düsseldorf logistics market | BNP Paribas Real Estate

Press contact:
Chantal Schaum - Tel: +49 (0)69-298 99-948, Mobile: +49 (0)174-903 85 77, chantal.schaum@bnpparibas.com
Viktoria Gomolka - Tel: +49 (0)69-298 99-946, Mobile: +49 (0)173-968 60 86, viktoria.gomolka@bnpparibas.com
Melanie Engel - Tel: +49 (0)40-348 48-443, Mobile: +49 (0)151-117 615 50, melanie.engel@bnpparibas.com

About BNP Paribas Real Estate
BNP Paribas Real Estate is a leading international property services provider that offers its clients comprehensive services in all phases of the property cycle: Transaction, Consulting, Valuation, Property Management, Investment Management and Property Development. With 5,300 employees, the company supports owners, tenants, investors and the public sector in their projects thanks to local expertise in 23 countries (own locations and alliance partners) in Europe, the Middle East and Asia. BNP Paribas Real Estate is part of the BNP Paribas Group, a leading global financial services provider.

As part of its commitment to sustainable cities, BNP Paribas Real Estate aims to play a leading role in the transition to creating more sustainable real estate that is low-carbon, resilient, inclusive and conducive to well-being. To this end, the company has developed a CSR policy with the following four objectives: to improve the economic performance and use of buildings in an ethical and responsible manner; to enable a low-carbon transition and reduce the environmental footprint; to ensure the development, engagement and well-being of employees; and to be an active player in the property sector, building and promoting local initiatives and partnerships.

Further information: www.realestate.bnpparibas.com/

About BNP Paribas in Germany
BNP Paribas is a leading European bank with an international reach. The BNP Paribas Group has been active in Germany since 1947 and has successfully positioned itself in the market with 12 business units. Private clients, companies and institutional clients are served by around 6,000 employees nationwide in all relevant economic regions. www.bnpparibas.de