September 13, 2018
Third-party logistics (3PLs) and e-commerce companies accounted for 56% of the 100 largest warehouse leases by square footage in H1 2018, which totaled 67.8 million sq. ft. and ranged in size from 417,000 to 2.0 million sq. ft. Thirty of the 100 leases were for warehouses sized 750,000 sq. ft. or more, reflecting demand for modern buildings that have become larger and taller in recent years. Seventy percent of these leases were for new or relocated warehouse operations. Geographically, these transactions were spread across 28 markets, with Southern California’s Inland Empire, Atlanta and Chicago having the largest square footage amounts.
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Senior Research Analyst
Head of Industrial & Logistics Research, Americas & Global
Capital Markets, Institutional Properties