Yr-to-date by means of November, the typical sale value for industrial properties within the U.S. stood at $128 per sq. foot, CommercialEdge knowledge reveals. The determine fluctuated all through 2024, with highest costs recorded within the first two quarters of the 12 months.
Throughout the first quarter, industrial property traded at a mean of $135 per sq. foot, whereas within the second quarter the determine decreased to $126 per sq. foot. On the finish of the third quarter of 2024, industrial gross sales costs averaged $122 per sq. foot, whereas early within the fourth quarter, the determine seems to be inching upward to $124 per sq. foot.
Final 12 months’s costs advanced equally all year long, however have been decrease general, hitting a mean of $124 per sq. foot. Within the first quarter of 2023 industrial property traded at $129 per sq. foot, whereas second-quarter costs modified fingers for $130 per sq. foot. The final two quarters of 2023 ended with common sale costs of $120 and $117 per sq. foot, respectively.
—Posted on December 26, 2024
