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A closer look at industrial leasing, demand is shifting from big-box to mid-sized warehouses

• While leasing volumes continue to remain strong going into 2018, there is an escalation of deal volumes in the mid-sized warehouse category.

• The shift in leasing demand is evident—especially in the ‘mega-box’ warehouse segment. Over the past few months, there has been a noticeable decline in the leasing of ‘mega-box’ warehouses (over 1 million square feet).

• What’s driving this shift in leasing? With delivery times tightening, companies are pushing into the ‘last-mile’ to be closer to consumers in more cities—leading to an increased demand for small-and mid-sized spaces. An increase in e-commerce and consumer-related industries are pushing the supply chains to move away from the sprawling logistics facilities and instead closer to denser urban areas.

Source: JLL Research

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