BNP Paribas Real Estate publishes data on the logistics market Q4 2025
The logistics market in the Ruhr region posted a brilliant final quarter at the end of the year, reporting an overall balance above the 600,000 m² mark for the first time since the high-turnover Corona years of 2020 (669,000 m²) and 2021 (683,000 m²). Overall, the result in 2025 was around 637,000 m², almost 78% above the weak previous year’s result and a good 10% above the ten-year average, which was also last cracked in 2021. This is the result of the analysis by BNP Paribas Real Estate.
With four of the five largest contracts concluded, the fourth quarter in particular was responsible for the excellent volume of the last 12 months (280,000 m²; 44% shared). “However, since the total turnover from 2024 was already equalised in the third quarter, the Ruhr region can be seen as experiencing a noticeable market revival over the course of the year. By October, around five deals with at least 20,000 m² had already been concluded, and another five deals, some of them very large, were added to the end of the year. The key drivers here included leasing to DHL in Unna and to an e-commerce company in Dortmund, each for around 80,000 m²,” explains Christopher Raabe, Managing Director and Head of Logistics & Industrial at BNP Paribas Real Estate GmbH.
The very positive market development and the high pressure on the limited premium space in the most sought-after locations have also left their mark on the rental trend: the prime rent has now reached the €8.00/m² mark and the average rent is currently trading at €6.70/m² (both +5% compared to 2024).
Logistics service providers and major deals at the top of the ranking
The decisive factor for the excellent performance of the Ruhr region was primarily deals in the category from 20,000 m², which in some cases were very large volumes and at the same time achieved a good number (10 deals). Overall, this segment accounted for around 376,000 m² of take-up, accounting for a good 59% of take-up. However, major deals were not the only focus of demand: one of the best results of the last 10 years was also generated with contracts between 12,000 and 20,000 m² (a share of just over 22%).
In the industry ranking, the leading logistics service providers in Germany in 2025 (sales share in Germany almost 41%) dominated the market in the Ruhr region and accounted for almost 67% of the total balance. Of the ten major deals registered, nine were in the top industry, which is also involved in 59% of all deals.
Significantly fewer, but also larger contracts were accounted for by the retail division, with a major e-commerce corporation in Dortmund (80,000 m²) being mentioned above all. However, it is also worth mentioning actors who act as logistics service providers but handle the business of trading companies (including Jingdong). The industrial sector was active in the small and medium-sized segment, accounting for a further 11%.
Prospects
After three below-average years, the logistics market in the Ruhr region is back with a very pleasing result in 2025 despite the continuing challenging conditions. The broad distribution of demand across the size classes and quarters underlines that the leasing momentum has picked up sustainably and is not only attributable to individual drivers or annual periods.
To ensure that this can remain the case in 2026, however, the logistics markets are dependent on stable development trends from the geopolitical environment due to their global networking. This component in particular is currently to be assessed as very fast-moving and opaque and always has the potential to positively or negatively influence market dynamics from one day to the next. Assuming a relatively stable development of possible external disruptive fires, however, the Ruhr logistics region is ready for another lively and high-turnover year on the demand side.
“In order to achieve a good balance again, especially in the larger space categories, the basis must also be created on the supply side in the modern segment or in the new construction sector. Thanks to speculative project developments, which are still available to the market, as well as sublet space that is being added, the Ruhr region is starting the new year with an overall good starting position. However, this is unlikely to lead to a significant increase in the already high prime rent in the first quarter for the time being,” says Bastian Hafner, Head of Logistics & Industrial Advisory at BNP Paribas Real Estate GmbH.
