Office transaction volume in Manhattan, N.Y., rose 5.2% year over year during the 12 months ended June 30 to $17.24 billion, securing its ranking as the top market for office transactions in the U.S., according to data from Real Capital Analytics. Meanwhile, office deal volume in Boston rose 85% year over year to $8.35 billion, while Los Angeles recorded a 12.6% drop to end the 12-month period at $7.69 billion.
Manhattan also ended the 12-month period with the most retail transaction volume, at $4.05 billion, a 27% increase year over year. Los Angeles placed second, experiencing a 39.2% decline in retail transaction volume to $3.34 billion, while Dallas boosted to the third spot with $3.32 billion of retail deal volume, up 88.6% year over year.
Thirteen of the 15 most populous U.S. markets logged yearly increases in industrial transaction volume during the past year. Chicago topped the list, with 325 industrial transactions aggregating $5.44 billion in deal volume, a 5.5% increase year over year on a dollar basis. California's Inland Empire had the next-largest industrial transaction volume at $4.66 billion, a 44.3% increase compared to the year-ago period. Deal volume in Los Angeles, meanwhile, dipped 3.4% year over year to $4.52 billion.
Likewise, the majority of markets experienced year-over-year growth in apartment transaction volume during the period. Dallas finished at the top of the chart with $10.01 billion of apartment deal volume, a 6.5% increase year over year. Atlanta held the second spot with $8.37 billion of apartment deal volume, while apartment volume in Houston rose 35.5% on a yearly basis to $7.96 billion.