135 markets in Cushman & Wakefield’s Waypoint 2026 report show tenant-favourable logistics conditions dropping from 52% in 2026 to 33% by 2029, while landlord-favourable markets rise to 39% from 26%.
54% of markets still expect rental growth over the next three years as vacancy tightens, supply stays constrained and occupiers chase higher-quality sites amid rising operating costs and geopolitical, trade and climate risks.
The Americas face the sharpest turn, with landlord-favourable markets projected to jump to 46% by 2029 from 17% now as U.S. supply and demand rebalance and nearshoring supports Mexico.
APAC remains the most tenant-friendly region, but conditions are split between supply-constrained Australia, Japan and Singapore and more flexible China and India; in EMEA, tenant-favourable markets are seen falling to 39% as energy costs and limited development narrow options.
As landlords gain power through 2029, what strategies can smaller businesses use to secure affordable, high-quality logistics space?
With 90% of warehouses still manual, will automation create a permanent and unbridgeable divide in the global logistics industry?
How are firms innovating supply chains to counter rising energy costs and escalating geopolitical shocks?
Industrial Real Estate 2026: Big-Box Leasing Surges 80.7% Amid Tightening Supply and Diverging Global Markets
Overview
The global industrial real estate market in Q1 2026 is undergoing significant change, with renewed confidence in long-term commitments and a notable 80.7% year-over-year surge in big-box leasing. This marks a clear shift from last year’s caution, as occupiers are now more willing to secure larger, long-term spaces. Market conditions are diverging across regions, with some areas moving toward landlord-favorable environments while others remain tenant-friendly. These trends highlight a complex interplay of supply and demand, reflecting both regional differences and a broader willingness to invest in industrial real estate for the long term.