A VERY STRONG KICK-OFF
The Cologne office market got off with a very strong start to the year. The volume of 84,000 m² not only more than doubled the result from the same quarter of the previous year (+105%), but also exceeded the ten-year average by around 32%. Unlike in 2020, deals beyond 10,000 m² were already concluded at the beginning of the year. The Bundesanstalt für Immobilienaufgaben (BImA) is responsible for the two leases concluded in this size category. Significantly more activity than usual was registered in the size category 2,001 to 5,000 m². With a good 18,000 m² of take-up, the result from the same quarter of the prior year was more than tripled and the long-term average was far exceeded by 82%. The overall brisk leasing activity in the smaller and medium-sized space segment is a clear sign of market stability in Cologne. After 2019, it was the strongest start to the year in the history of the cathedral city.
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