The Cologne logistics market only achieved a below-average result in 2025 with take-up of around 229,000 m², which represents a 16% decline in take-up compared to the previous year. "In 2025, lettings were mostly long-term and characterized by tenants with strong credit ratings," explains Patrick Sohns, Managing Partner Logistics & Industry at Angermann NRW.
Rising rents despite decline in turnover
Both the prime rent and the average rent recorded a year-on-year increase despite the decline in letting performance. The prime rent increased by 3.9 % from € 7.70/m² to € 8.00/m². The average rent even increased by 6.5% from €6.10/m² to €6.50/m². "We are seeing an increasing division of the market. While older, less well-equipped properties are more difficult to let, there is still healthy demand in the segment for modern, sustainable and well-connected space. In 2025, the majority of developments of 5,000 m² or more were realized in modern properties or as new builds, and tenants with strong credit ratings are generally willing to pay more for quality. Beyond €8.00/m² of hall space, however, the willingness to pay decreases significantly and can only be generated by applying noticeable incentives," says Patrick Sohns.
Retail/e-commerce sector is the industry leader
In a sector comparison, the largest take-up of space in 2025 was generated by the TRADE/E-commerce sector. Overall, take-up in this sector amounted to around 105,300 m², which corresponds to a 46% share of take-up. E-commerce retailers and fulfillment service providers of Chinese origin accounted for around 14% of total take-up. "The demand and take-up rate of Chinese occupiers therefore remained at a high level in 2025," analyzes Patrick Sohns.
Wholesale market closure triggers domino effect
The closure of Cologne's wholesale market has led to an increase in demand for space in recent months, with user groups at the traditional location accounting for around 9% of total take-up in 2025. "The reorganization following the closure of the wholesale market has noticeably increased demand for modern logistics space in the Cologne area. Many of the companies represented on the former wholesale market were looking for logistics space on the open market for the first time. However, as the Cologne wholesale market is now being dismantled, no further demand should arise from this special situation in 2026.
Large-scale deals dominate market activity
At 29%, deals in the 12,000 m² and above segment accounted for the largest share of total take-up. In addition to the lease by Sellvin AG (approx. 26,800 m²), the top deals of the year included the two relocations to Cologne-Porz by Dachser Logistics (approx. 22,000 m²) and Zeppelin Rental (approx. 16,400 m²).
Positive outlook for 2026
"Demand for space gained significant momentum, particularly towards the end of the year. An increase in take-up can therefore be expected for 2026. The stable to rising rents across all qualities of space also underline the existing attractiveness of Cologne's logistics market," says Patrick Sohns.
The full market report can be downloaded here.
