1、REPORT2022 U.S.Industrial&Logistics Occupier SurveyCreating ResilienceOccupiers expect to keep expanding real estate footprints despite economic uncertainty,labor shortages and supply chain disruptionsCBRE RESEARCHNOVEMBER 20222CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logis

2、tics Occupier Survey|ReportContentsKey Takeaways03Expansion Plans07Location&Building Preferences11Supply Chain15ESG Considerations5Key Takeaways014CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportKey TakeawaysOccupiers are still in expansi

3、on mode,led by Third-Party Logistics(3PL)providers and companies in the Food&Beverage and Building Materials sectors01Locations in the Southeast,Southwest and Midwest regions are most preferred.02Occupancy cost,lease options,transportation,building design and infrastructure quality drive site select

4、ion.03Skilled labor shortages,rent and cost escalations are top challenges.04Critically important building features include clear height,number of dock doors,power supply,expansion capacity and column spacing.05Most occupiers are improving wages and the work experience for employees,and automation i

5、s gaining traction.06Occupiers are willing to pay a green premium to save on operational costs.07Use of LED lighting and alternative energies(e.g.solar panels)are the most common approaches to advance net zero goals.085CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occu

6、pier Survey|ReportThe U.S.industrial market is experiencing unprecedented demand.Companies are adding warehouse and distribution space to protect inventories,diversify supply chains and process growing online retail sales.As a result,were seeing historically low vacancy rates,record rent growth and

7、robust leasing activity,all of which has fueledsignificant development nationwide.IntroductionAre these trends sustainable?While the secular drivers of demand endure,uncertainty about the economic outlook,labor markets and supply chains has impacted occupier sentiment and decision-making.To gauge fu

8、ture demand,CBRE surveyed 100 major industrial occupiers throughout the U.S.on their upcoming plans.The key takeaway:occupiers are still expanding their real estate footprints,particularly in the Southeast,Southwest and Midwest,but are facing challenges due to supply chain disruptions,labor shortage

9、s and high occupancy costs.The survey also explores other pressing topics,such as sought-after building features,ESG plans and more.6CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportSource:CBRE Research,October 2022.One hundred industrial occupiers p

10、articipated in the survey,the majority of which distribute and/or manufacture within the supply chain.Nearly 87%of the respondents are 3PL,General Retail&Wholesale,Buildings Materials&Construction,Food&Beverage and Manufacturing companies.Within the 3PL segment,Electronics,Apparel and Health&Beauty

11、are among the sectors represented.Diverse Array of Industries RepresentedFigure 1:What sector does your company operate in?Type of Occupiers SurveyedThird-Party Logistics27%General Retail&Wholesale25%Building Materials&Construction15%Food&Beverage12%Manufacturing8%Auto,Tires&Parts7%Other 4%Medical2%

12、3PL Customer IndustriesElectronics&AppliancesApparelHealth&BeautyDry Bulk Food&BeverageFurnitureAuto,Tires&PartsMedicalCold StorageBuilding Materials&ConstructionExpansion Plans028CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportSource:CBRE Research,

13、October 2022.Sixty-four percent of respondents plan to expand their U.S.logistics footprint.Forty-seven percent plan to expand by more than 10%.Twenty-nine percent plan no change,while 7%expect to downsize.Are occupiers planning to expand their logistics footprint?Figure 2:How do you expect your tot

14、al warehouse footprint in the U.S.to change in the next three years?Expansion Plans64%are looking to expand their logistics footprint in the next three years0%5%10%15%20%25%30%35%40%45%50%Grow by more than 10%Grow by less than 10%Remain the sameShrink by less than 10%Shrink by more than 10%9CBRE RES

15、EARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|Report25%52%60%75%75%81%ManufacturingGeneral Retail&WholesaleAuto,Tires&PartsBuilding Materials&ConstructionFood&BeverageThird-Party LogisticsNote:Calculated as a percent of total responses within each industry type

16、.Source:CBRE Research,October 2022.Eighty-one percent of 3PLs plan to expand their footprint over the next three years,while 75%of both Food&Beverage and Building Materials&Construction companies will do the same.Most manufacturers plan no change In their footprint,with only 25%expecting to expand.P

17、ercent of occupiers within their industry who are expanding 10%in the next three years Figure 3:Percent of occupiers within their industry who are expanding 10%in the next three years Expansion Plans by Industry10CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier S

18、urvey|ReportNote:Represents the top four choices.Respondents could select more than one answer.Percentages calculated as a proportion of total responses and therefore do not add up to 100%.Source:CBRE Research,October 2022.How To Achieve Expansion GoalsFigure 4:If needing more space,how does your co

19、mpany plan to achieve expansion goals?Lease on open Lease on open market(secondmarket(second-hand facilities)hand facilities)66%Partner with a Partner with a developer to lease developer to lease buildbuild-to to-suit facilitiessuit facilities44%Purchase land Purchase land and selfand self-develop d

20、evelop own facilitiesown facilities37%Operate in Operate in customercustomer-owned owned facilities(3PLs)facilities(3PLs)31%Location&Building Preferences0312CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportNote:Respondents could select more than one

21、answer.Percentages calculated as a proportion of total responses and therefore do not add up to 100%.Source:CBRE Research,October 2022.Over a third of respondents plan to expand in the Southeast over the next 12 to 24 months,as the region has several large logistics hubs serving growing population c

22、enters,large affordable labor forces and seaport connectivity.This region also benefits from a supportive business climate for manufacturers.Growing industrial markets like Atlanta,Nashville,Orlando,Charleston and Charlotte are attracting occupiers in need of more warehouse or manufacturing faciliti

23、es.Other regions that ranked high for expansion include the Southwest and Midwest,where markets like Reno,Phoenix and Minneapolis have become optimal locations for occupiers due to their strong demographics and infrastructure,which supports industrial demand.Figure 5:Which region are you looking to

24、expand in over the next 12 to 24 months?Target Regions33%27%22%24%28%24%13CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportSource:CBRE Research,October 2022.Top decisive factors for building selection Figure 6:What are the most important factors that

25、 drive your building selection within a market?Location StrategiesOther factors that occupiers take into consideration during site selection:Sustainability ratingDeveloper/landlord reputationQuality of local infrastructureCritical factors for siteselection within a market01Occupancy cost(rent)02 Lea

26、se options04 Building design03 Transportation(difference among candidate sites)Nearly three-fourths(74%)of respondents cited occupancy cost(rent)as the top factor when selecting a building within a market,followed by lease options(50%),transportation(47%)and building design(45%).Other factors consid

27、ered during site selection,but weighted less heavily,include quality of local infrastructure,developer or owner reputation and sustainability rating.14CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportFigure 7:When selecting a new warehouse,how import

28、ant are the following building features?42%Column spacing56%Power supply43%Capacity for expansion81%Clear height76%Number of loading bays/dock doorsCritically important building features to occupiersLocation&Building PreferencesNote:Respondents could select more than one answer.Percentages calculate

29、d as a proportion of total responses and therefore do not add up to 100%.Source:CBRE Research,October 2022.The top five building features for new warehouses are clear height,number of dock doors,power supply,column spacing and capacity for expansion.Major distributors and e-commerce occupiers requir

30、e highly functional properties to process high volumes and need modern buildings containing such features.This is a major factor fueling the record 662 million sq.ft.of new development underway in the U.S.The average age of a U.S.warehouse building is 43 years,and 28%are more than 50 years old.*Give

31、n the continued growth of e-commerce and retailer omnichannel offerings,warehouses approaching obsolescence in these markets will present opportunities for redevelopment,particularly in infill locations that support last-mile delivery.Power supply is also top of mind given heavy use of electricity f

32、rom manufacturers and warehouse operators;and this will continue to drive site selection.*For more information,see market brief here.Supply Chain0416CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportSource:CBRE Research,October 2022.Figure 8:Which of

33、the following factors represent the biggest concern for the growth of your business?Supply Chain Challenges Sixty-one percent of respondents report that labor availability is a major impediment for the growth of their business,while 58%are most concerned about rising rents.Forty-eight percent of all

34、 respondents point to challenges from higher transportation costs.Occupancy costs accounts for just 3 to 6%of total logistics spend,whereas transportation costs account for about half or as high as 70%of total spend.However,rents are rising rapidly,so occupiers clearly have sticker shock.Top industr

35、ies that were represented in this question include 3PLs,Electronics&Appliances,Building Materials&Construction,and food&bev.Lack of suitable warehouse/manufacturing spaceInflexible lease options61%Labor and skillsshortages58%Rent escalation(either new leases or at renewal)48%Cost escalations(fuel,tr

36、ansportation,etc.)Other relevant concerns:Environmental restrictionsConsidered less of a business threat:17CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportNote:Respondents could select more than one answer.Percentages calculated as a proportion of t

37、otal responses and therefore do not add up to 100%.Source:CBRE Research,October 2022.Figure 9:Top 3 Concerns Broken Down by RegionConcerns by Region The Midwest was the only region where respondents ranked labor availability and skill shortages as their biggest concern.Concerns about rent were highe

38、st in the Northwest and Northeast,followed closely by the Southwest.Occupiers located in the Northeast and Southeast were less concerned about cost escalations than those in other regions.0%2%4%6%8%10%12%14%16%18%20%NortheastMidwestSoutheastSouth CentralSouthwestNorthwestCost escalations(fuel,transp

39、ortation,etc.)Labor and skill shortagesRent escalation(either new leases or at renewal)18CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportNote:Respondents could select more than one answer.Percentages calculated as a proportion of total responses and

40、 therefore do not add up to 100%.Source:CBRE Research,October 2022.Figure 10:What have you implemented or plan on implementing to address labor shortage and skills gap?Supply Chain Strategies Seventy-eight percent of responses pointed to improving wages and conditions and 49%to improving training pr

41、ograms.The fact that occupiers are improving conditions for workers and looking to increase automation means they are expecting leaner operations with more skilled labor.Less important strategies to respondents included wellness programs or promoting the companys sustainability credentials.are impro

42、ving wages and conditions for employeesare using technology to increase efficiencies 78%48%78%49%48%46%40%31%23%Improve wages andconditionsImprove trainingprogramsUse of technology toreplace human talentIncrease investment inHR/recruitmentservicesUse of more temporarystaff and/orsubcontractorsIntrod

43、uction of awellness programImprove and promotecompany sustainabilitycredentialsESG Considerations0520CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportNote:Respondents could select more than one answer.Percentages calculated as a proportion of total r

44、esponses and therefore do not add up to 100%.Source:CBRE Research,October 2022.Figure 11:How is your company planning to meet its net-zero carbon target via your real estate footprint?Meeting Net Zero Carbon Targets Main ways occupiers are planning to meet their net zero carbon targets via their rea

45、l estate footprint include switching to LED lighting,using alternative energies on-site and using electric material-handling equipment.Fewer responses pointed to electric charging points for delivery fleets or capturing rainwater.49%Switching to LED lighting37%Use of alternative energies on-site(e.g

46、.,solar panels,ground source heat pumps)22%Electric charging points for electric delivery fleet10%Capturingrainwater35%Using electric material handling equipment21CBRE RESEARCH 2022 CBRE,INC.Creating Resilience2022 U.S.Industrial&Logistics Occupier Survey|ReportSource:CBRE Research,October 2022.What

47、 rent premium are occupiers willing to pay on their current facilities to switch to green sources of energy?Figure 12:What rent premium would your company be willing to pay on your existing facilities to switch to green sources of energy?Sustainability Almost three-fourths of occupiers would be will

48、ing to pay higher rents to switch to green energy.The majority would pay more if the savings on future operational costs would be matched.Still,over a quarter said they would not pay a premium to switch to green.0%5%10%15%20%25%30%35%40%45%A premium equivalent to the totaloperating cost savings(e.g.

49、,electricity bills)A premium equating to less thanthe total operating cost saving(e.g.,electricity bills)A premium over the totaloperating cost savings(e.g.,electricity bills)None72%of occupiers would be willing to increase their current rents to switch to green,with the majority willing to pay a hi

50、gher rent if the savings on future operational costs would be matched.Copyright 2022.All rights reserved.This report has been prepared in good faith,based on CBREs current anecdotal and evidence based views of the commercial real estate market.Although CBRE believes its views reflect market conditio

51、ns on the date of this presentation,they are subject to significant uncertainties and contingencies,many of which are beyond CBREs control.In addition,many of CBREs views are opinion and/or projections based on CBREs subjective analyses of current market circumstances.Other firms may have different

52、opinions,projections and analyses,and actual market conditions in the future may cause CBREs current views to later be incorrect.CBRE has no obligation to update its views herein if its opinions,projections,analyses or market circumstances later change.Nothing in this report should be construed as a

53、n indicator of the future performance of CBREs securities or of the performance of any other companys securities.You should not purchase or sell securitiesof CBRE or any other companybased on the views herein.CBRE disclaims all liability for securities purchased or sold based on information herein,a

54、nd by viewing this report,you waive all claims against CBRE as well as against CBREs affiliates,officers,directors,employees,agents,advisers and representatives arising out of the accuracy,completeness,adequacy or your use of the information herein.James BreezeSenior Director,Global Head of Industri

55、al&Logistics Research Matthew WalaszekDirector,Industrial&Logistics Research Global Research LeadershipRichard Barkham,Ph.D.,MRICSGlobal Chief Economist Head of Global&Americas RHenry Chin,Ph.D.Global Head of Investor Thought LeadershipHead of Research Asia PContactsJohn MorrisPresident,Americas Ind

56、ustrial&Logistics LRuben RamirezHead of Occupier ServicesAmericas Industrial&LJulie WhelanGlobal Head of Occupier Thought LJos TrompGlobal Head of Data Intelligence&Head of Continental Europe RJennifer OlsenSenior Analyst,Industrial&Logistics Research Global Industrial&Logistics ResearchAmericas Industrial&Logistics Business