The warehouse development pipeline hit a new high in Q1 2017 due to robust user demand and the need to modernize existing building inventory. There is 167 million sq. ft. of warehouse space currently under construction, 72 million sq. ft. of which (43%) is pre-committed—also a new high. Within the 10 largest markets, 36% of space under construction is pre-committed, two-thirds of which is from e-commerce, third-party logistics and retail users. These new deliveries will allow more occupiers to utilize modern space and will open up redevelopment opportunities for older product.
Industrial & Logistics contact:
Senior Managing Director
Industrial & Logistical Services, Americas
+1 404 923 1414