Logistics occupiers still in expansion mode across Europe
Logistics occupiers across Europe are still planning to increase their real estate footprint despite challenging market conditions, according to CBRE’s 2023 European Logistics Occupier Survey.
According to the data, 67 percent of all respondents plan to grow their logistics footprint, with 30 percent stating that they plan to do so by more than 10 percent. At a sector level, online retailers remain bullish with their future expansion plans, particularly in less mature markets such as Italy and Spain, despite the overall slowdown in ecommerce growth post-pandemic.
Third party logistics providers (3PLs) also remain optimistic, with 78 percent expecting further business growth during the next two years. Preparation for this has been demonstrated in recent months, with 3PLs acting as a major driver of demand and accounting for more than 45 percent of the total take-up in Europe in first quarter 2023.
The findings of the survey also showed that a growing n