Sale-leaseback transactions accounted for 7% of the total industrial sales closed last year and 9% of property trades made since the beginning of 2021, according to a new report from CommercialEdge.

Sale-leasebacks accounted for $4.8 billion in transaction volume over the past 17 months, and since the beginning of 2020, the price of a sale leaseback averaged $116 per square foot. That's much higher than the overall average of $93 per square foot of industrial space sold during that same period, underscoring the demand for industrial assets among investors. 

About $18.1 billion in transactions have closed across US industrial markets as of May 31. The average sale price per square foot for industrial space also clocked in at $103 per square foot last month, a figure that's 16.3% higher than in May 2020 – and experts from CommercialEdge predict that sales activity in 2021 could match — or even exceed — the record $44.4 billion in transactions closed during 2020.