Letting performance above previous year’s level
The Dortmund office market can look back on a solid first half of 2026. A total of around 44,500 m² of office space was realized. According to analyses by CUBION Immobilien AG, the total volume of space was attributable to lettings, while no owner-occupier transactions have been registered so far this year. Compared with the exceptionally strong first half of 2025, this represents a decline in total take-up of around 32%, but this is solely attributable to the high owner-occupier activity of the previous year. By contrast, the letting performance developed positively, rising by around 9% year-on-year to 44,500 m² (H1 2025: approx. 41,000 m²).
Broad demand ensures stable market activity
“The Dortmund office market is in stable shape overall in the middle of the year,” explains Lars Rehbein, Head of Research at CUBION Immobilien AG. “Even if, as expected, the exceptional owner-occupier result of the previous year could not be repeated, the increased letting performance shows that the market continues to have solid demand. The significantly higher number of contracts concluded is particularly pleasing, which speaks for broad market activity.”
Significantly more leases than in the previous year
In the first half of the year, a total of 68 relevant leases were registered, significantly more than in the same period last year (43 contracts). Two contracts exceeded the 5,000 m² mark. The Jobcenter Dortmund concluded the largest lease with around 6,300 m² at Burgwall 12–14. This was followed by the office share of the lease from Amazon with around 5,500 m² at Levi-Baum-Straße 9 in Segro Park Dortmund. Other major contracts include a lease of around 2,400 m² for administrative, training and therapy uses at Eintrachtstraße 54. The flavor and fragrance manufacturer Givaudan is moving into around 2,300 m² on Lake Phoenix and Techem Energy Services is leasing around 2,000 m² at Robert-Schuman-Straße 20 on Phoenix-West.
Vacancy rate falls again
The positive development on the supply side continued in the first half of the year. The vacancy rate decreased from 4.7% to 4.2% compared with the end of 2025. Currently, around 139,000 m² of office space is available at short notice, including around 10,000 m² of sublet space. This means that the vacancy rate remains at a healthy level for the Dortmund office market.
New construction activity remains manageable. For the full year 2026, a completion volume of around 17,000 m² is expected. Of this space, about 11,000 m² are currently still available.
Public sector and commercial enterprises shape the market
With a share of around 31% of the space each, the public sector as well as commercial, commercial and transport companies were the most important buyers of office space in the first half of the year. This is followed by business-related services with around 17% and other services with around 12%.
In the office market zones, the city centre maintained its top position with a market share of just under 59%, followed by the B1 office boulevard with approx. 17 %. The other locations account for about 28%, while Stadtkrone Ost, Phoenix-West and Phoenix-See each have shares of between 2% and 5%.
Differentiated view of rent development
The weighted average rent at mid-year was EUR 11.83/m² (prior-year period: EUR16.31/m²) and EUR11.41/m² in the existing segment, excluding new-build rents (prior-year period: EUR12.95/m²). The prime rent realised amounted to EUR 17.50/m². The main reason for the decline compared to the exceptionally high level of the previous year is the structure of the leases concluded so far. Several large-volume deals were concluded in existing properties at comparatively moderate rental prices. However, it remains unchanged that prime rents of up to EUR 30.00/m² are now being called up and achievable for high-quality new-build space in the best Dortmund locations.
Positive outlook
The general conditions for the Dortmund office market remain favourable. A persistently low vacancy rate, the limited supply of new construction and constant demand for modern office space indicate stable development in the further course of the year.
“If the leasing momentum of the first six months continues, a good letting result can also be expected for the year as a whole,” says Lars Rehbein. “High-quality and modern office space in particular remains in demand. At the same time, the limited space available in the new construction segment is likely to continue to support rental price development in the long term.”
