Logistics operators based in Asia have been leasing more warehouses in the U.S. in response to changes in e-commerce, global trade and manufacturing.
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Third-party logistics firms, known as 3PLs, work with online retailers and other businesses to store, pack and move products for sale.Leasing by Asia-based logistics firms more than doubled in key U.S. markets such as New Jersey and Los Angeles last year compared to 2023, according to global real estate firm Cushman & Wakefield. Landlords generally have seen less demand for warehouses following the COVID-19 pandemic, which led to a boom in online shopping.
By leasing warehouses, some companies that feared potential tariffs on imported goods were looking to store more inventory in the U.S., according to the CBRE report. U.S. President Donald Trump in early February put an additional 10% tariff products imported from China, a tax set to 20% on Tuesday. A: When you think about the uptick in Asian-based 3PLs - or 3PLs more broadly - we’ve really seen them become a more significant lessor of space in the last two years. That's being driven by the complexity in the market. As uncertainty rises and as trade complexity increases, the value proposition of a third-party logistics provider that has the scale, and the expertise, to be able to manage it has helped drive demand.
Q: In early February, President Donald Trump threw out and then paused imposing tariffs on small-value packages arriving from China. Have you seen any shifts from companies that are processing these changes?
Donald Trump Business Jason Tolliver Technology
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