It is not quite an industrial revolution, but the U.S. industrial market has come on very strong of late, as sales ballooned to $47.0 billion in 2013, up 15.5 percent from 2012, according to Real Capital Analytics.

With an improving overall economy, and GDP growth that may exceed 3.0 percent in 2014, the U.S. industrial market has improving fundamentals and is poised to continue to outperform Asian, Canadian and European markets, according to a new report from Cushman & Wakefield titled Industrial: Investor Outlook and Trends.

Nationwide, vacancy rates dropped to 8.0 percent by the end of 2013, a 24 basis point drop from the previous quarter, and a 74 basis point drop from year-end 2012. The drop in vacancy was led by California, where the four lowest industrial vacancy rates by market can be