Strength in industrial and logistics markets throughout the Americas continued during second quarter 2016, according to CBRE.

The U.S. vacancy rate and availability rate both dropped by 20 basis points to 5.2 percent and 8.7 percent, respectively. During the first half of the year, six U.S. metropolitan markets each attracted at least $1 billion in investment capital. Los Angeles was No. 1, followed by San Francisco, New York City, Chicago, Boston, and Dallas/Fort Worth. Investment in these six markets together represented 48 percent of the U.S. total.

A survey of CBRE brokers revealed user demand in most markets is driven by e-commerce, third-party logistics, consumer goods, auto parts suppliers and food/beverage tenants. Smaller-size deals have become more common as e-commerce and supply chain users look for smaller light industrial spaces situated in densely populated areas to meet demand.

U.S. industrial development remained steady during second quarter 2016