The industrial property subcategory 3PL, or third party logistics, is a rapidly expanding market across the US. Steady growth in e-commerce has created a growing dependency upon these warehousing and logistics properties thanks to their effect of reducing delivery time on goods shipped to customers. With e-commerce sales worldwide set to pass $2 trillion in 2017 in pursuit of double-digit annual growth, knowledge of the 3PL industry will pay off for the commercial real estate professional patrolling this piece of the national supply chain. What follows in this post are two helpful sources of quick information about the 3PL as it lives and breathes today.
Exploding demand for online shopping is the driver behind a Jones Lang LaSalle finding that sophisticated warehousing and logistics space will see a big bump in 2014 according to today’s Craig Meyer piece in REJournals: