CHICAGO—Foreign investment in the flourishing US industrial market continues to grow. Foreign buyers spent $1.3 billion on warehouse, corporate distribution, and related spaces in the first quarter of 2017, a big boost over last year's first quarter, when their industrial purchases totaled $443.6 million, according to a new report from Avison Young.
Altogether, foreign investors spent $4.3 billion on industrial buildings in the past year, through the first quarter. But the intense competition for these highly-desired properties has led many to change how they go about it.
“We're seeing foreign investors get more interested in different types of industrial buildings,” Erik Foster, the Chicago-based leader of Avison Young's national industrial capital markets group, tells GlobeSt.com. Instead of safe investments in class A properties, many have started picking up value-add buildings that entail a little more risk. “It's not just for the top five industrial markets anymore.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
