The San Francisco metro market volume actually fell by 18% from $31.9bn to $26.2bn year-over-year, landing at sixth place this year compared to its ranking of third in the world the previous reporting year.

California is home to the top five industrial investment markets in the country.

Decron plans to invest approximately $400 million in the Seattle market during the next 36 months after its recent purchase of Avana 522, a 558-unit multifamily property in Bothell for $173 million.

The market for standalone grocery properties remains active due to their built-in customer base.