Logistics leasing at an all-time high of 33 mn sq. ft. in 2019, up 30% reportAshish Kumar
In 2019, logistics and warehousing leasing activity attained a record high of 33 million sq ft, up more than 30 percent from the Bengaluru, the National Capital Region and Mumbai markets a year ago. Collectively, these three markets accounted for around 60 percent of the overall space take-up over the year, a report from CBRE South Asia showed.
In line with the annual trend, historic leasing activity was recorded in the second half of 2019, with space take-up of about 18 million sq ft; an increase of about 20 percent compared to the first half of 2019.
3PL companies accounted for roughly half of the leasing operation in 2019, from 36% in 2018 to 48% in 2019. In 2019, e-commerce players with a share of about 18 per cent followed them.