In 2025, 3PLs signed more of the biggest U.S. industrial leases than any other group, according to CBRE.
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Third-party logistics providers signed 44 of the top 100 industrial leases last year, up from 28 in 2024. That jump shows more companies are choosing to work with 3PLs to handle storage, shipping and other parts of their supply chains.
In total, the top 100 lease deals in 2025 added up to 98.8 million square feet, slightly more than the 96.8 million square feet recorded in 2024. Although fewer leases were over 1 million square feet compared with the prior year, the average size of the largest deals edged higher.
“The increase in lease terms is due to the stabilization of supply and rent growth,” the CBRE report said. “As a result, landlords are now more focused on maintaining occupancy and securing tenants for longer periods. Some landlords are offering incentives to lock in occupancy and reduce turnover risk.”
The average lease length also grew. Companies are signing longer deals, with the average term in the top 100 rising to about 98 months, up from 92 months a year earlier.
General retailers and wholesalers were the second-largest group in the top 100 with 28 lease deals, down from 38 in 2024. The automotive, tires, and parts sector was the only other group that increased its share of the top 100 leases.
Most of the big industrial leases were in well-known logistics hubs. California’s Inland Empire led the list with 14 leases totaling nearly 12 million square feet. Chicago and Dallas-Fort Worth each had eight of the top 100 leases.
Smaller logistics markets such as Indianapolis, Columbus, and Greenville-Spartanburg ranked among the top 10, reflecting growing demand for large warehouse and distribution space in places outside the largest hubs.
