After the first three quarters, the Ruhr logistics market has posted results that are unrivalled nationwide: with a total take-up of 484,000 m², this leading logistics region has reported a new record volume for the period between the start of January and the end of September 2026. However, it is not only the overall result that is remarkable, but above all the wide-ranging letting activity. Each quarter saw large-scale contracts signed as well as a significant number of successfully concluded deals. Consequently, after just three quarters, the take-up is already above the full-year average of previous years, and the number of deals is also above average. This is according to an analysis by BNP Paribas Real Estate.
In addition to the major deals involving the pharmaceutical wholesaler Cencora (33,700 m²; Dortmund), the logistics provider Goodcang (29,000 m²; Duisburg) and the retail company Flexi Spot (20,500 m²; Werne) in the first half of the year, two further lettings in the third quarter joined the category of deals exceeding 20,000 m². The logistics service providers Apex (24,500 m²; Witten) and Logicall SCS (20,300 m²; Duisburg) made a significant contribution to the strong result with their major deals. Their choice of location shows that demand is not so much focused on individual locations, but rather that very different sub-regions of the Ruhr area are benefiting from current market conditions. In the wake of strong demand, the prime rent (€8.10/m²) and the average rent (€6.80/m²), which had remained stable so far this year, have risen slightly.
Logistics service provider sets impressive record
“A look at the size categories clearly illustrates that the strong market momentum in the Ruhr region currently extends across almost all segments: With the exception of large-scale contracts of 20,000 m² or more, all categories have far exceeded their ten-year average volumes for the first three quarters,” explains Christopher Raabe, Managing Director and Head of Logistics & Industrial at BNP Paribas Real Estate GmbH.
In the ranking of user groups, logistics service providers in the Ruhr region are following the nationwide trend and clearly stand out when compared with other sectors: With a letting volume of more than 340,000 m², they achieved record turnover in the Q1–Q3 figures, surpassing the previous record set in 2025 by an impressive 43 per cent and accounting for just under 71 per cent of current market activity. It is noteworthy that they have not only made their mark through very large contracts, such as those with Goodcang, Apex or Logicall SCS, but have also contributed a good 70 per cent of all deals overall.
Despite Cencora’s major contract, the retail sector remains under-represented (16 per cent). However, when analysing the sector, it must be borne in mind that many players operate at the interface between retail or e-commerce and logistics service providers. These include, amongst others, Goodcang and JD.com, which have made a strong presence in the market with several new contracts. A further 7 per cent is attributable to the industrial sector, which includes, amongst other things, a deal involving Siemens Mobility (20,000 m²; Duisburg).
Outlook
“Whether it be the record volume of space let, the highest number of deals ever recorded, or the exceptional performance of logistics service providers – the Ruhr region’s logistics market has set new benchmarks in many areas so far in 2026, against which it will have to measure itself in future. Particularly encouraging is the stable foundation on which this result is based: the wide range of contracts from 20,000 m² upwards, as well as the above-average turnover in all smaller size categories, underline the sustained market recovery in the current year,” said Bastian Hafner, Head of Logistics & Industrial Advisory at BNP Paribas Real Estate GmbH. The fourth quarter is traditionally the strongest period of the year in terms of turnover in the Ruhr region (average Q4 since 2017: just under 200,000 m²). Consequently, an average Q4 result is sufficient for this polycentric logistics region to match the previous record total for the whole of 2021 (around 683,000 m²).
Due to the very high demand for space and the associated letting of larger areas in both existing and new-build properties (accounting for almost 41 per cent of total space turnover), the supply-demand imbalance has recently worsened again. In particular, large-scale, short-term enquiries for 10,000 m² or more – such as those from the e-commerce sector or companies based in Asia – are currently difficult to meet. However, despite the now significantly more limited supply situation, only marginal changes in rent levels are expected by the end of the year.
