Leasing of industrial and logistics space fell 9 per cent annually across eight major cities during January-June this year to 12.8 million square feet, according to CBRE.
Anshuman Magazine, Chairman & CEO India, South-East Asia, Middle East & Africa, CBRE, said: "Increased focus on upgradation/expansion opportunities in Tier I cities; new market penetration in lower tier cities and extension of local distribution networks in emerging logistics hubs are expected to drive leasing in the future."