Demand for large-scale industrial facilities strengthened during the first half of 2026 as occupiers made longer-term commitments to modern logistics space, according to new research from CBRE. The increase in mega leases signals renewed confidence among industrial users investing in distribution networks and supply chain infrastructure.
CBRE reported that the 100 largest U.S. industrial lease transactions totaled 93.6 million square feet during the first six months of 2026, representing a 26% increase from 74.4 million square feet during the same period in 2025.
The average lease size also increased from 744,000 square feet to 936,000 square feet, while the number of mega leases exceeding 1 million square feet rose to 38, more than doubling from 16 recorded a year earlier.
New lease agreements continued to dominate activity, accounting for 66 transactions totaling 61.9 million square feet. Although renewal transactions declined in number, their combined leased area increased to 31.7 million square feet, reflecting larger long-term occupancy commitments.
Average lease terms also lengthened to approximately 89 months, compared with 84 months in the first half of 2025.
Third-party logistics (3PL) providers remained the largest source of leasing demand, completing 30 of the top 100 leases totaling 27.9 million square feet.
Food and beverage companies recorded the strongest year-over-year growth, more than tripling leased space as businesses expanded regional distribution capacity to strengthen supply chain resilience.
General retailers and wholesalers accounted for fewer of the largest transactions than in 2025, indicating a greater emphasis on optimizing existing logistics networks rather than expanding warehouse footprints.
Among major industrial markets, the Inland Empire led with 14 large lease transactions totaling 12.6 million square feet, followed by Dallas with 10.5 million square feet and Chicago with 9.4 million square feet.
Rising demand for large industrial facilities continues to support warehouse development, speculative construction, tenant improvements, and logistics infrastructure investment. For developers, construction owners, and general contractors, growing commitments to modern Class A distribution facilities point to continued opportunities in industrial construction, particularly in major logistics hubs where available high-quality space remains constrained.
Source: CBRE.
