Throughout the pandemic and after — as consumers wanted more goods delivered, ecommerce expanded rapidly, and supply chains thrashed in spasm — more warehouses were necessary. There was a common implicit assumption that there would be enough space, materials, labor, and also community acceptance to continue establishing new buildings as needed.

But there are signs that logistics construction is facing resistance. There are common CRE issues like labor and materials costs and finding available locations. Getting though provisioning and managing financing costs. Then there are communities that don't want a warehouse.

"It's just getting harder to build warehouses," said Prologis President Dan Letter on November 13 in the company's first investor day in four years, according to a report in FreightWaves. "People want their stuff. They want it faster. They want it cleaner. But they don't want these warehouses in their communities."