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Office, retail and industrial deal volume slumps YOY in Manhattan, NY

Although Manhattan, N.Y., maintained its top ranking for office and retail transaction volume during the 12 months ended Sept. 30, office deal volume in the region slid 10.8% year over year to $16.45 billion, while retail transaction volume dropped 14.4% to $3.25 billion, according to data from Real Capital Analytics.

Industrial deal volume in the market fell 39.8% year over year to $44.6 million. On the other hand, apartment transaction volume in the Big Apple grew 13.7% year over year to $7.09 billion, placing the market in the No. 5 spot by apartment deal volume.

In regards to office deal volume, Boston maintained the second spot, after Manhattan, with deal volume surging 84.1% year over year to $9.37 billion. Office transaction volume in San Francisco doubled over the 12-month period, placing it in the No. 3 spot, with $8.71 billion of deal volume.

In the retail sector, the top five markets all logged year-over-year declines in deal volume for the 12-month period. Los Angeles followed after Manhattan; however, deal volume in the region fell 51.6% on a yearly basis to $2.94 billion. Chicago rounded out the top three, with $1.83 billion of retail deal volume, a 43.9% drop year over year.

On the other hand, a majority of the markets logged positive growth year over year in regards to apartment and industrial deal volume.

Dallas led the way for apartment deal volume at $10.60 billion, a 10.5% increase year over year. Atlanta and Los Angeles followed, logging $8.39 billion and $7.93 billion of apartment transaction volume, respectively.

Chicago, meanwhile, recorded $6.01 billion of industrial transaction volume during the 12-month period, the most of any market. Los Angeles followed, with industrial deal volume up 47.5% year over year to $5.86 billion. The Inland Empire region in southern California rounded out the top three, with $5.11 billion of industrial deal volume, a 44.5% annual increase.

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