Cologne Office Take-Up Falls as Large Leases Remain Absent, Cushman & Wakefield Says

• Cologne office take-up fell year over year to about 31,400 sq m in the third quarter of 2026, despite continued occupier demand.
• Nine-month take-up totaled approximately 104,000 sq m, with no lease exceeding 10,000 sq m recorded by September’s end.
• Demand centered on modern, flexible, ESG-compliant offices, while older stock faced growing pressure from increasingly selective occupiers.
• Vacancy rose to 6%, representing approximately 517,500 sq m of available space, but remained comparatively low among major German office markets.
• Prime rent held at €33 per sq m monthly; weighted average rent fell to €20 per sq m monthly.

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