LOS ANGELES–Cross-border investment in US industrial real estate has increased by an average of 67% annually since 2010, says CBRE. Nearly half the $61 billion spent by foreign investors on industrial properties during that time has come from the Asia Pacific region, with notable examples including GLP and Mitsubishi Real Estate.

As cross-border investing has gone up in absolute terms over the past seven years, so has its share of the total industrial investment pie. Year to date, it stands at 14.5%, excluding large-entity deals, compared to 1.9% for all of '10.

“Investor perceptions of industrial assets have changed considerably,” says Jack Fraker, managing director, global industrial & logistics, capital markets for CBRE. “Over the past decade, industrial real estate has evolved into an attractive property sector, with logistics facilities becoming more sophisticated and market fundamentals strengthening due to new consumer buying preferences.” CBRE's recent 2017 Americas Investor Intentions Survey found that more than one-third of investors consider logistics the most attractive asset class, compared to 28% for multifamily.