Los Angeles and the Inland Empire of Southern California are the top US industrial markets for the first half of the year, according to new data from Real Capital Analytics.
Los Angeles netted $3.2 billion in activity for the first half of 2021, 13% higher than its previous record level at a midyear. The Inland Empire also rocketed up three slots to the #2 slot, registering $2.527 billion in sales and posting six transactions of $100 million or higher. Of note was Costco's $345 million purchase of a distribution facility in the IE that was the highest price ever paid for an industrial asset in the region.
The two SoCal markets were followed by Chicago ($2.3 billion); Houston ($1.93 billion); Atlanta ($1.89 billion); Dallas ($1.8 billion); Boston ($1.4 billion); Phoenix ($1.37 billion); North New Jersey ($1.34 billion); and Seattle ($1.29 billion).
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