E-commerce and logistics companies claimed a larger share of the 100 largest industrial-and-logistics leases signed in 2018 than they did a year earlier, underscoring the growing influence of those companies on U.S. warehouse construction, according to a new report from CBRE.

CBRE’s analysis of last year’s industrial-leasing activity in the U.S. found that 61 of the largest 100 leases were signed by e-commerce companies and logistics firms for a total of 61.5 million sq. ft. In the previous year, those two sectors claimed 52 of the largest leases for a cumulative 43.2 million sq. ft.

The two are related in that many logistics companies, specifically third-party logistics providers, handle e-commerce distribution for their clients.

“The Pennsylvania I-78/I-81 corridor has been a beneficiary of the surging demand for e-commerce and logistics space,” said Vincent Ranalli, Senior Vice President, CBRE.“In 2018, our region was one of the leaders in the U.S. in large format leases signed by e-commerce companies. To accommodate the demand, several parcel hubs and last mile delivery facilities came online along the corridor. We expect this trend to continue as consumers shift to e-commerce and demand immediate delivery”.

Regardless of industry, the largest industrial leases got even larger last year. The largest 100 from last year – spanning uses such as e-commerce, logistics, manufacturing, food and beverage, technology and retailing – totaled 19 percent more space than the largest of 2017.

Last year’s largest industrial leases were spread across 32 markets, with many clustering in leading logistics hubs including Pennsylvania’s I-78/I-81 corridor, which had 11 of the nation’s largest deals, totaling more than 11.8 million sq. ft.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.