Corporate real estate

Corporate real estate benefits from high usage reversibility in uncertain times

1.9 Mio. qm NF

Flächenbestand 2020

144.000 qm NF

Flächenumsatz 2020

7,00 -11 ,00 €/m²

Spitzenmiete 2020

Source Bulwiengesa AG

Note: The calculation of the prime rent is based on the definition of the Gesellschaft für Immobilienwirtschaftliche Forschung e.V. (Society for Real Estate Research). In the markets, deals are also concluded above the median prime rent.

Market potential

In the commercial real estate market of the Metropole Ruhr, the property type corporate real estate has now become firmly established and, particularly in uncertain times, benefits from its high usage reversibility and associated third-party use and multi-tenant capability. Corporate real estate is generally defined as mixed-use commercial properties with a typically medium-sized tenant structure. Mixed use includes office, warehouse, manufacturing, research, service and/or wholesale space. Against the backdrop of an increasing shortage of commercial land and the very inadequate designation of potential sites (e.g. as GE areas), corporate real estate represents an attractive alternative. With an extensive range of conversion sites and old industrial stock including administrative and production areas, numerous submarkets in the Metropole Ruhr offer excellent conditions for the further development of this property class.

In Germany, the Initiative Unternehmensimmobilien, a cooperation of the largest players in this segment, is committed to transparency in this asset class. Through regular exchange, the most important real estate indicators are collected, updated and continuously updated. Deviations from the data from previous years are possible and are due to the improved data situation and expansion of real estate research.

Land inventory

According to the current evaluation, the stock of corporate real estate in the Metropole Ruhr totals approx. 1.9 million m². This represents an increase in the stock of 30 % or approx. 440,000 m² since the start of the surveys in the Metrople Ruhr. The highest volumes can be identified in Mülheim an der Ruhr (373,000 m²), Essen (210,000 m²) and Bochum (190,000 m²), Duisburg (165,000 m²), Dortmund and Oberhausen (140,000 m² each).

44.5 % of the total stock of corporate real estate, or approx. 853,000 m², can be assigned to the production property type. Distribution properties (< 10,000 m²) account for about 372,000 m² or 19.4 % of the stock, transformation properties for 355,000 m² or 18.5 % and industrial parks for 330,000 m² or 17.2 % of the stock. Production warehouses account for 9,000 m² or 0.5%.

Take-up of space

The effects of the Covid 19 pandemic have not yet reached the market for corporate real estate, as can be seen from the continuing high demand. Take-up totalled approx. 158,000 sq m, a further increase of approx. 9.3 % on the previous year's very good result. The broad spectrum of tenants and the high flexibility of this asset class proved to be a decisive advantage over other real estate segments.

Looking at the turnover according to submarkets, Dortmund takes the lead with approx. 31,000 m² or a turnover share of 19.7 %, followed by Gelsenkirchen and the district of Unna with approx. 22,000 m² each or approx. 14.0 %.

In view of the uncertainties surrounding the global and national economic outlook, it is currently difficult to assess the development of the domestic economy, so that it is virtually impossible to make any statements about a possible sustained change in demand behaviour.

However, the robustness of the diversified tenant base may prove to be a decisive positive factor in the future and thus also contribute to the stability of the asset class. The past year has shown that corporate real estate has an increased resilience in times of crisis. This means that, despite all the uncertainties, demand for corporate real estate in the Metropole Ruhr can be expected to remain good in the future.

"Demand for corporate real estate continues unabated"


bulwiengesa AG


In the market for corporate real estate in the Metropole Ruhr, the market rents for the individual space categories show a broad spectrum depending on the quality of the fittings, size, flexibility and user-specific requirements.

The highest rents are achieved in the categories of office and social space as well as flex spaces. The marked spread between top and average rents for flex spaces remains considerable. This is primarily due to the widely differing qualities of the spaces grouped under this category. This also includes state-of-the-art service spaces that are suitable for variable uses. At their peak, rents can even exceed those for office space.