Leases on U.S. industrial properties with at least one million square feet more than doubled to 38 in the first half of 2026, compared with 16 in the same period last year, according to a report from CBRE Group. Third-party logistics providers continued to account for the majority of the nation’s 100 largest leases, although their share declined.

“The largest leases signal continued stabilization across the industrial and logistics sector,” said Chris Zubel, executive managing director, Americas industrial and logistics at CBRE. “Occupiers are also making longer-term commitments, which reflects increased confidence in their business prospects and logistics planning.”

CBRE ( NYSE: CBRE ) said the top 100 leases in the U.S. totaled 93.6 million square feet in the first half, up 26% year over year, “as occupiers showed greater willingness to make long-term commitments to modern distribution facilities.” The average lease term increased by five months to 89 months, according to the Dallas-based commercial real estate services and investment firm.

That shift matters for landlords and tenants alike because large warehouse commitments typically tie up space for years in a market where modern distribution facilities can be difficult to replace quickly, especially in established logistics corridors.

With warehouse rents having risen sharply after the pandemic, longer lease terms can help companies limit exposure to future rent increases and secure space in high-demand logistics corridors.

New leases accounted for 66 of the top 100 deals through the first six months of the year, while renewals made up 34. In the same period last year, the split was 60 new leases and 40 renewals.

California’s Inland Empire led all markets with 14 leases totaling 12.6 million square feet. Dallas-Fort Worth followed with 11 leases totaling 10.5 million square feet, and Chicago ranked third with nine leases totaling 9.4 million square feet.

“These established hubs are supported by transportation networks and logistics infrastructure, strong labor pools and access to major consumer markets,” the report said.

Third-party logistics providers held 30 of the top 100 leases, down from 38 a year earlier. Companies in the food and beverage sector were the second-largest occupier group, “as they expanded their regional distribution networks to improve supply chain resiliency.” Space held by that group more than tripled to 16.6 million square feet.

General retailers and wholesalers accounted for 17 of the top 100 leases, down from 28 in the 2025 period.

The report suggests that by signing longer-term contracts for larger spaces, logistics companies are showing greater confidence in their future growth prospects.