CBRE: Demand for Reverse Logistics Warehouse Space seen Rising

Around 400 million square feet will be required throughout the following five years to deal with the normal as indicated by a report to be delivered released by land real estate services giant CBRE Inc.

The majority of the area to deal with returns will come from more seasoned dissemination communities which third-party logistics (3PL) suppliers and enormous retailers will empty for fresher offices to help forward logistics operations, CBRE said.

About 1.5 billion square feet of new logistics square will be delivered before the end of 2025, CBRE said.

As of April, there was 10 billion square feet of modern space committed to warehousing and distribution, as indicated by information from research firm Statista. That number is probably going to ascend as of year's end because of the flood in online business request that has come about because of the COVID-19 pandemic.