Logistics & Industrial
The logistics and industrial segment remained robust throughout 2025. In the second half of the year, activity in the rental market increased, and the strong investor interest has broadened into a wider investor base, driven by the segment’s structural drivers. Several factors point towards continued strong performance in the logistics market going forward.
Transaction Market
Although volumes improved somewhat in 2025 compared with 2024, the transaction market has remained challenging due to persistently high interest rates and elevated uncertainty. For logistics and industrial properties, the segment accounted for a smaller share of total volume than in previous years. However, this primarily reflects a shortage of assets being brought to market rather than reduced investor appetite. Despite challenging market conditions, we continue to see strong demand from a broad range of investors, which has contributed to downward pressure on yields for logistics. In 2025, approximately NOK 14.3 billion worth of logistics and industrial property changed hands, representing almost 16 percent of total transaction volume, slightly below the 10-year average.
Based on observations in the market, we have revised down the indicator for prime yield on logistics and light-industrials from 5.50 to 5.25 percent as of January 2026.
5 Logistics & Industrial
Akershus Eiendom served as leasing advisor to Pareto Alternative Investments for Toveien 28 in Vestby Logistikkpark. Photo: Fredrik Hansson
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 – 1 600
Ski
1 400 – 1 500
Ytre Enebakk
850 – 1 050
Sande
1 000 – 1 200
Moss
900 - 1 150
Logistics rent, large and small warehouses
Rental Market
Activity in the rental market for logistics property improved throughout last year. Vacancy has remained consistently low, while occupier demand has strengthened. We are seeing particularly strong interest in the new-build segment among several large, traditional warehouse and logistics occupiers seeking modern facilities with high technical standards and tailored specifications. At the same time, we are now observing slightly rising vacancy levels in larger existing buildings, as more occupiers require additional time to finalise decisions or adjust their operational concepts. This has contributed to rental levels stabilising at solid levels across several established parks in and around Oslo.
Rental levels for logistics and industrial property have remained stable at NOK 2,000 per square metre in the central Oslo region and NOK 2,200 per square metre for last mile properties closer to the city centre. In established parks outside Oslo, such as Berger and Langhus, rental levels remain stable at NOK 1,700 per square metre.
Akershus Eiendom served as leasing advisor to Oluf Lorentzen Eiendom for Jerikoveien 10 at Alnabru. Photo: Fredrik Hansson
Logistics prime yield, percentage
Prime yield
Transaction volumes
Prime rent
5.
10
%
14,
0
bn
0
,8
bn
2025
2024
NOK
1,
550
NOK
2,
125
Down 25 bps in Q1 2026
Standard (+6,000 sq.m)
Last-mile (<6,000 sq.m)
Key figures
Outlook