The improvement in the logistics property sector was tied to the simultaneous recovery of the global economy and increased demand for space created by e-commerce companies, who this year expect to see a 23-percent increase in sales, according to a recent report from commercial real estate services firm CBRE. Global online sales will grow to $3.5tr by 2019, the company said, pushing demand for industrial properties toward mid-sized and big-box distribution centers located close to major population centers.

“E-commerce is a game changer, and its impact goes well beyond the retail sector,” said Richard Barkham, CBRE’s global chief economist, in the report.

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