Industrial and logistics occupiers are expected to continue expanding into 2023 despite looming economic uncertainty, according to a new report from CBRE.
Led by third-party logistics (3PL) providers and food and beverage and building materials companies, occupiers are racing forward with expansion plans, with a long list of specific space demands including clear height, number of dock doors, power supply, expansion capacity and column spacing.
CBRE surveyed 100 major industrial occupiers throughout the U.S. on their upcoming plans and found that occupiers are pushing forward primarily in the Southeast, Southwest and Midwest regions, "but are facing challenges due to supply chain disruptions, labor shortages and high occupancy costs," according to the report. Sixty-four percent of respondents plan to expand their U.S. logistics footprint, while 47% percent plan to expand by more than 10%. And 81% percent of 3PLs plan to expand their footprint over the next three years, while 75% of both F&B and building materials & construction companies will do the same.
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