It's a new class of consumers that has entered the sector, Rego said.

Topaz achieved instant scale when it entered the sector less than two years ago.

Competition for deals has also increased as new groups, including pension funds, have entered the sector.

But since the Heroku acquisition, tech giants like IBM, Oracle, VMware, and many others have entered the sector.

Blackstone also recently entered the sector, buying up 45 million square feet, more than half of that from ProLogis.

Autogrill, which has recently preferred smaller acquisitions over big mergers, entered the sector when it bought Stellar Partners and Avila in North America.

The firm entered the sector in Brazil with a stake in Kroton Educacional, the world's largest for-profit education company, which it sold in 2013.

Danaher entered the sector principally through its 1998 acquisition of Pacific Scientific and its purchase of Kollmorgen in 2000.