Companies are outsourcing more business to third-party logistics providers (3PLs), and that rising trend drove larger industrial leases in 2025, with 3PLs capturing the largest share of the top 100 leases, according to a report from commercial real estate firm CBRE.

3PLs accounted for 44 of the top 100 leases in 2025, up 57% from 28 leases in 2024, CBRE said. The significant increase indicates that large companies are relying on 3PLs to manage their complex logistics so they can focus on their core business. At the same time, the rise of e-commerce is further fueling this trend, as online retailers increasingly rely on 3PLs for logistics support.

General retailers and wholesalers were second behind 3PLs with 28 lease signings, down from 38 in 2024. The automobile, tires and parts sector was the only other industry to increase its share of the top 100 with seven leases in 2025 compared with five in 2024.

“Occupiers committed to larger footprints and longer lease terms as they took advantage of opportunities to upgrade their space amid a continued flight to quality trend,” said John Morris,President of Americas Industrial & Logistics at CBRE. “2025’s activity reflects continued strong demand for large distribution facilities as occupiers prioritize scale, efficiency, and long-term supply chain solutions.

CBRE’s report reveals that, while the number of leases in 2025 exceeding 1 million sq. ft. declined to 46 from 49 in 2024, the average size of the top 100 leases increased to 988,000 sq. ft. from 968,000 sq. ft. The average lease term also rose to approximately 98 months, up from 92 months the year previously. The increase in lease terms is due to the stabilization of supply and rent growth. As a result, landlords are now more focused on maintaining occupancy and securing tenants for longer periods. Some landlords are offering incentives to lock in occupancy and reduce turnover risk.