Commercial property covers a vast range of different building types, including office buildings, retail stores, restaurants, and land which has yet to be developed. Essentially, it includes any sort of real estate that is intended to generate revenue. In terms of real estate overall, the Asia Pacific region generated the highest volume of sales, at 847 billion U.S. dollars in 2018 alone. By comparison, real estate sales in the Americas amounted to only 511.6 billion U.S. dollars.
Sales of industrial real estate in the Americas reached 85 billion U.S. dollars in 2018, more than twice the volume of any other world region. Industrial real estate includes factories/manufacturing plants, warehouses, and research and development facilities. The real estate investment manager Prologis was the top company in its category, managing around 38.3 billion euros in industrial property assets in 2018. A few other major players in that market are Goodman and Global Logistic Properties.
Retail property is another essential segment of commercial property. Though renting retail space is often very reasonable in most towns and cities, it can also be exorbitantly expensive depending on the location. For instance, the most expensive retail location worldwide in 2018 was Causeway Bay in Hong Kong, in which one square foot of retail space cost upwards of 2,671 U.S. dollars per year. New York’s Upper 5th Avenue came in second place, with annual rent amounting to around 2,250 U.S. dollars per square foot in 2018.
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In the following 4 chapters, you will quickly find the 23 most important statistics relating to "Global Commercial Property".