Almost half of the 167 million sq. ft. of U.S warehouse space currently under construction—72 million sq. ft.—is already pre-committed to tenants, primarily e-commerce, third-party logistics and retail users, according to a new report from CBRE Group, Inc.

The warehouse development pipeline hit a new high in the first quarter of this year, due to robust user demand and the need to modernize existing building inventory.

Almost half of the 167 million sq. ft. of U.S warehouse space currently under construction—72 million sq. ft.—is already pre-committed to tenants, primarily e-commerce, third-party logistics and retail users, according to a new report from CBRE Group, Inc.

The current tally of pre-committed warehouse space is the highest since 2000.

Read the entire article in MHLNews.com here.