According to a recent Prologis report, e-commerce still required three times the logistics space of in-store sales in 2024, and this share shift alone would produce 250 to 350 million square feet of U.S. logistics space demand over the next five years.
According to the NAIOP Industrial Space Demand Forecast, absorption in 2025 is expected to be around 249 million square feet, and the figure in the first half of 2026 could be about 154 million square feet, assuming there is a soft landing of interest rates. If a hard landing materializes, net absorption could significantly underperform.