The U.S. logistics real estate market has entered a new stage of growth as customer demand strengthens and new supply slows, according to Prologis Research.
Net absorption reached 66 million square feet in second quarter 2026, the strongest quarterly total since 2022. Prologis expects absorption to reach 220 million square feet for the full year, exceeding the 205 million square feet of projected completions and reducing vacancy by approximately 30 basis points.
Demand is broadening across industries, supported by ecommerce, essential goods and advanced manufacturing, as well as companies involved in data center construction, defense and the reconfiguration of global supply chains. Bulk leasing activity is running 10 percent to 15 percent above the 2025 average, while limited construction is making l
