IE Business Daily Business news for the Inland Empire.
Boosted by the boom in online shopping created by COVID-19, 2020 was a record year for large industrial transactions in the United States.
Forty eight leases of one million square feet or more were recorded last year, up from 29 in the previous year, according to data released Wednesday by CBRE.
Eleven of the 48 were in the Inland Empire, the same number as Dallas-Ft. Worth and the Pennsylvania Interstate 78/81 Corridor. Atlanta recorded 13 deals of one million square feet or more, the most of any submarket.
The average transaction size among the top 100 industrial deals in the U.S. last year was 1,038,183 square feet, up from an average of 887,594 square feet in 2019. The top 100 transactions in 2020 accounted for 103.8 million square feet, representing a year-over-year increase of 17 percent, CBRE reported.
