Megawarehouses

CBRE reported that the largest 100 industrial lease transactions in 2023 included 43 deals for 1 million square-feet or more, which the firm describes as “megawarehouses.” This fell short of 2022’s record-high 63 deals and 2021’s strong 57 deals tally.  The average size of the top 100 leases came in at 986,744 square-feet, down from 2023’s record 1.07 MSF and the previous record set in 2021, at 1.05 MSF.

CBRE found that the largest 100 industrial lease transactions in 2022 included a record-high 63 deals for 1 million square-feet or more—known as “megawarehouses”—topping the 57 deals recorded in 2021. What’s more, it added that the average size of the top 100 leases was 1.07 million square-feet (MSF), supplanting the previous record, of 1.05 million MSF, set in 2021.