A new report from CommercialEdge shows buyers are eager to purchase industrial properties, even at top prices.
It’s no secret that the U.S. industrial sector remains red-hot, especially as the disruptions stemming from the COVID-19 pandemic and recent adverse weather events across the country make the existing industrial facilities even more critical to the nation’s supply chain. As a result, buyers continue to be willing to pay top dollar for whatever industrial product comes on the market. According to the August National Industrial Report from property data firm CommercialEdge, U.S. industrial sales volume reached $30.5 billion in the first seven months of 2021. Facilities in the Los Angeles area, in Inland Empire, Calif. and in Chicago saw particularly strong demand from buyers.
Prices on industrial facilities, on a national level, averaged $108 per sq. ft., an increase of 22.4 percent compared to the same period in 2020, CommercialEdge reported.
Here’s CommercialEdge’s breakdown of the largest industrial sales by purchase price closed in the first half of 2021.