Cross-border investors accounted for nearly $20 billion in industrial deals last year, signaling the continued dominance of the sector in the US. 

There was more than $143 billion in total industrial transactions in 2021, up 32% over the previous high in 2019, according to JLL. Cross-border investors made up $19.5 billion of that total, up 152% over 2020 numbers.

 In another intriguing signal, five countries account for 91% of 2021's total cross-border transaction volume, led by Singapore with 57%, Canada with 21%, and Bahrain, France and South Korea. Singapore's deal volume was led by GIC's $6.8 billion portfolio purchase from EQT Exeter in the fourth quarter, according to JLL, while Canadian investors increased their US deal flow by nearly 65% year-over-year. Canadian investment was led by the $2.2 billion-acquisition of a 14.5 million-square-foot infill and light industrial portfolio by Oxford Properties Group.