Will 2019 Set a Record for Industrial Real Estate Sales?
The current high price tags for industrial real estate don’t seem to be discouraging investors. While total investment sales volume in the sector decreased year-over-year in the second quarter, individual asset sales were up 2.7 percent over the second quarter of 2018, according to a report from real estate services firm CBRE. Total sales volume for industrial properties year-to-date was up by $10.6 billion.
With current transactions in the works, this year will likely set a record year for industrial sales volume.
According to NAREIT’s T-Tracker, which monitors operating performance of the REIT industry, industrial REIT’s invested $2.13 billion in acquisitions, net of dispositions, in the first half of 2019. During the previous year, industrial REITs focused primarily on development.