2023: General retailers and wholesalers become top leasers of big-box warehouses in North America, surpassing 3PL providers.
2023 saw general retailers and wholesalers become top leasers of big-box warehouses in North America, accounting for 36% of transactions, surpassing 3PL providers. A 15.8% decline in 2022 leasing led to a doubled vacancy rate. CBRE predicts a 5% increase in 2024 leasing volume due to market recovery, as demand for big-box space grows for supply chain resilience, access to growing population centers, automation, and e-commerce.
April 30, 2024
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