Industrial assets traded at a nearly 31% premium over 2020 prices in the second quarter, clocking in at a national average of $113 per square foot. That’s an increase of 13.3% over Q1 figures—and underscores what experts have been crowing about since even before the COVID-19 pandemic: industrial is the hottest sector to watch in CRE right now. 

A new report from CommercialEdge shows that an estimated $23.3 billion of sales have closed so far this year, putting 2021 on pace to surpass last year’s record $45.0 billion in deals. That increase will likely be driven by an increase in the average sales prices, not an increase in the total number of sales.