3PLs Snapped Up Nearly Half of 2025's Mega Warehouse Deals
The outsourcing wave just got a whole lot bigger. Third-party logistics providers claimed 44 of the top 100 industrial leases in 2025—a 57% jump from 28 leases the year before, according to new data from commercial real estate firm CBRE.
The numbers tell a clear story: major companies are handing off more of their logistics operations to specialists so they can focus on what they do best. Add in the relentless growth of e-commerce, where online retailers increasingly depend on 3PLs for fulfillment muscle, and you've got a recipe for exactly this kind of real estate land grab.
General retailers and wholesalers came in second with 28 lease signings, down from 38 in 2024. The only other sector to gain ground? Automotive, tires, and parts companies, which increased from five to seven leases.
Bigger Footprints, Longer Commitments
"Occupiers committed to larger footprints and longer lease terms as they took advantage of opportunities to upgrade their space amid a continued flight to quality trend," said John Morris, President of Americas Industrial & Logistics at CBRE. "2025's activity reflects continued strong demand for large distribution facilities as occupiers prioritize scale, efficiency, and long-term supply chain solutions."
The data backs him up. While the number of leases exceeding 1 million square feet dipped slightly to 46 from 49 in 2024, the average size of the top 100 leases actually grew—from 968,000 square feet to 988,000 square feet. More telling: average lease terms stretched to 98 months, up from 92 months the previous year.
That shift toward longer commitments reflects a stabilizing market. With supply and rent growth leveling off, landlords are pivoting from maximizing short-term gains to locking in reliable, long-term tenants. Some are even sweetening deals with incentives to reduce turnover risk and keep occupancy steady.
For 3PL operators, the message is clear: companies want partners who can handle complexity at scale, and they're willing to commit serious square footage to make it happen.
