As lead Copyeditor and an Editor for Supply Chain Outlook Magazine, Lauren Kania plays a dual role in shaping the content where she is responsible for...
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Cushman & Wakefield’s global analysis anticipates a decline in tenant-favorable conditions across logistics markets due to tight supply, rising costs, and structural uncertainty.
As businesses are being forced to rethink their networks to reduce exposure to geopolitical, trade, and climate disruption, demand for higher-quality, strategically located assets is increasing significantly.
According to Cushman & Wakefield’s (CWK) Waypoint 2026 report, an analysis of 135 global logistics markets suggests that the proportion experiencing tenant-favorable conditions is expected to fall from 52 percent in 2026 to 33 percent by 2029. This shift in balance is due to the declining vacancy rates and the continued constraint of supply.
“The next phase of the logistics cycle will be defined by preparedness. Businesses that embed resilience into their real estate strategies, through smarter use of technology, automation and energy‑secure assets, will be far better placed to navigate disruption and capture long‑term growth,” notes Sally Bruer, reporting author at CWK.
However, beyond just the global picture, there are significant differences between and within regions.
Specifically, the US is expected to see the most abrupt shift towards landlords, with these favorable markets anticipated to rise from 17 to 46 percent – the most pronounced shift across the globe.
Jason Tolliver, President, Americas Logistics & Industrial Services, CWK
“The Americas are moving back to a landlord-led market faster than any other region. In the US, we are already seeing supply and demand rebalance, while nearshoring into Mexico continues to drive new demand. For occupiers, that means the cost of waiting is rising quickly, especially for well-located, high-quality space.”
Jason Tolliver, President, Americas Logistics & Industrial Services, CWK
REGIONAL DIFFERENCES IN LOGISTICS MARKETS
Meanwhile, APAC remains one of the most tenant-favorable locations globally, with approximately 47 percent of markets leaning towards occupiers at this point in time.
“Different markets across APAC are experiencing different stages of growth, fuelled by resilient occupier demand led by e-commerce and manufacturing. Supply constraints in markets such as Japan and Australia are driving competition; meanwhile, continued availability in China and India is creating opportunity,” details Dennis Yeo, Head of Investor Services and Logistics & Industrial, Asia Pacific, CWK.
On the other hand, EMEA is currently facing supply and energy-related constraint challenges, as tightening vacancy across Western and Northern Europe has reinforced the need for early decision-making to secure high-quality space.
In Central and Eastern Europe, markets are offering more varied conditions, although improving absorption is expected to gradually tighten availability.
Tim Crighton, Head of Logistics & Industrial, EMEA, CWK, highlights, “The shift in EMEA’s logistics landscape is less about speed and more about strategy. The right real estate is becoming harder to secure in key markets, and rising energy costs are making asset quality far more important. For occupiers, waiting is becoming a risk rather than a strategy, and success will be predicated on aligning real estate strategies with long-term operational performance, flexibility and sustainability.”
Ultimately, due to various global factors, including rising costs, more restricted supply, and structural uncertainty, landlord-favorable conditions are expected to become increasingly prevalent across global logistics markets over the next three years.
This article was produced by the editorial team at Supply Chain Outlook and published as part of the Outlook Publishing global network of B2B industry magazines.
Outlook Publishing delivers industry insights, company stories, and sector coverage across supply chains, manufacturing, mining, construction, healthcare, food production, and sustainability.
Supply Chain Outlook provides ongoing coverage of organisations and developments shaping the global logistics and supply chain sector.
As lead Copyeditor and an Editor for Supply Chain Outlook Magazine, Lauren Kania plays a dual role in shaping the content where she is responsible for interviewing corporate executives and crafting original features for the magazine, corporate brochures, and the digital platform.
