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.