How strong has the U.S. industrial market been in 2021? Strong enough to set an all-time record for sales volume during the first 11 months of the year.
According to the latest research from CommercialEdge, industrial transactions in the United States totaled $61.6 billion in the country’s biggest markets through the first 11 months of 2021. That’s an all-time high.
At the same time, sales prices for industrial properties averaged $111 a square foot in November. That’s up 27.4 percent on a year-over-year basis.
In the Midwest, indusrial sales volume in Chicago moved past the $4 billion threshold in November.
The industrial surge has kept developers busy. By the end of November, 293.9 million square feet of industrial supply was delivered across the country during 2021. An additional 555.4 million square feet of industrial space is under construction, making up 3.4 percent of the total stock on a national level.
