It’s been quite a fruitful year so far for industrial real estate in the U.S. According to the National Real Estate Investor, total industrial sales are expected to exceed 2016 levels this year, marking the second-best volume in 10 years. Large portfolio deals are also making a comeback, and both national and foreign investors are betting big on the market, drawn in by record rent growth.
Demand is heavily fueled by the rise of e-commerce, with providers competing for the limited available space. Retail giant Amazon is on the lookout for a new, 8 million-square-foot headquarters to support its growing e-commerce business, pitting major cities against one another. Other players in this sector are likely to follow suit, looking for suitable industrial space for their distribution centers.
The rise of e-commerce and the need for strategically-placed distribution centers to meet growing customer demand are opening the door to a whole new era for industrial development in the U.S. It seemed like the perfect time to look back on how this sector evolved during the past decade, and what the top targets for industrial construction are–perhaps making it easier for Amazon to pick the location of its new headquarters. We used in-depth Yardi Matrix data to compile a list of the top 50 cities for industrial development in the U.S., from 2007 to 2017 (see ‘Methodology’). Check out the results below.
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