Dallas is second in the U.S. for foreign investment into industrial real estate in the first five months of 2018, despite a reduction in volume.

Foreign investment into the U.S. has increased in a big way — foreign buyers dropped $6.6B in the sector in the first five months of this year, a giant leap from the $5.5B spent in all of 2017, Avison Young's Mid-Year Foreign Investment Snapshot shows.

Columbus, Ohio, has led the country in sales volume this year, with $415M transacted through May. (That is a huge increase from last year, when only $32M sold to foreign money.)

Dallas came in second with $241M, a slower pace than last year. In 2017, foreign investors bought $617M worth of Dallas industrial product. Still, Dallas is riding the waves of strong absorption, new construction, growth in e-commerce and corporate supply chain activity, and large portfolio sales that are bolstering the sector nationwide, Avison Young said.

Canada has been the country investing the most in U.S. industrial, but China is set to take its crown. Chinese investors have led the pack so far this year, with $4.1B in sales volume through May 31, far outpacing Canada's $1B, according to Avison Young.