Logistics
In the warehousing and logistics segment, the positive momentum observed in the second half of 2024 has carried into 2025, with the first half of the year characterised by increased leasing activity. While persistent market uncertainty may weigh on activity going forward, several factors point to a continued rise in demand for storage and production capacity, and the segment remains notably resilient.
Transaction Market
The improved investor sentiment evident at the end of last year has been sustained into the first half of 2025. Supported by expectations of continued strong occupier demand and stable rental levels, logistics continues to stand out as an attractive investment segment. Year-to-date, logistics assets have accounted for a smaller share of total transaction volume compared to 2024, reflecting a weaker overall market rather than diminished appetite for the segment. Logistics represents around 17 percent of total volume so far this year, amounting to approximately NOK 6.6 billion. Prime yield for warehouse and logistics assets is at 5.50 percent as of August, down 25 basis points from 5.75 percent in Q1 2025.
5 Logistics
Photo: Adobe Stock
Rental price range in various logistics areas. Click on the areas to see the rental price range (NOK / sq m).
Groruddalen
1 700 – 2 200
Gardermoen
1 100 – 1 200
Gjelleråsen/Skytta
1 300 – 1 450
Asker/Bærum
1 500 – 1 800
Liertoppen
1 400 – 1 600
Vestby
1 050 - 1 200
Drammen
1 400 – 1 700
Berger/Fjellbo
1 500 – 1 700
Nebbenes
800 – 900
Lørenskog
1 400 – 1 500
Drøbak
1 050 – 1 200
Kløfta
1 300 – 1 450
Vinterbro
1 400 - 1 500
Langhus
1 400 – 1 700
Sofiemyr
1 300 – 1 500
Røyken
750 – 900
Lindeberg
1 300 – 1 500
Ski
1 400 – 1 500
Ytre Enebakk
900 – 1 150
Sande
1 000 – 1 200
Moss
900 - 1 150
Logistics rent, large and small warehouses
Rental Market
Leasing activity in the logistics sector gained momentum through the second half of 2024 and has remained strong into 2025. Heightened geopolitical risk, rising trade barriers, and expansion within both the pharmaceutical and defence industries are expected to further fuel demand for domestic production and warehousing capacity.
Rental levels have stabilised at elevated levels. Prime logistics space in the Oslo core region is currently at NOK 2,000 per square metre, while last-mile facilities closer to the city centre are still achieving NOK 2,200 per square metre. In established parks outside Oslo, such as Berger and Langhus, rents remain stable at NOK 1,700 per square metre.
Akershus Eiendom served as leasing broker to Pareto Alternative Investments in the letting of Bonntjennsvegen 11. Photo: Fredrik Hansson
Logistics prime yield, percentage
Prime yield
Transaction volumes
Prime rent
Down 25 bps in Q1 2025
Standard (+6,000 sq.m)
Last-mile (<6,000 sq.m)
Key figures
5.
35
%
0
.
0
bn
0
.8
bn
2025
2024
NOK
1,
550
NOK
2,
125
Outlook