On a global level, the second quarter of 2012 has recorded increased commercial real estate activity.

According to data collected from more than 60 countries by Jones Lang LaSalle (JLL) Capital Markets Research, investment activity picked up by 24 percent to $108 billion in the second quarter of the year. First quarter of the year recorded a volume of $87 billion.

However, compared to the same period last year, activity levels in Q2 fell by one percent and the first half of 2012 showed a seven percent drop from the same time last year, DSNews.com reported.

Interestingly, New York, San Francisco and Washington, D.C., topped the target list of foreign investors. Close to 35 percent of the deals in the U.S. included cross-border parties. The second quarter of 2012 recorded 33 percent increased investor activity with even secondary cities such as Miami, Minneapolis and Phoenix attracting foreign investors. The company predicts that this year’s volume will be close to $400 billion as the country’s safe haven tag is expected to lure investors.

Volatile market conditions in developed and emerging countries alike have made investments in the U.S. seem attractive. “Although U.S. growth appears relatively weak, compared with most other fully mature economies, growth is stronger, and investment into real, tangible assets in the country is attractive as a defensive strategy in volatile, challenging economic and market conditions in developed and emerging countries alike,” the JLL report said.

“Core U.S. real estate throughout primary and many secondary cities remained very attractive to both domestic and foreign investors, based on absolute initial yields on offer, and their spread over record-low Treasury rates,” said Josh Gelormini, Vice-President, Americas Research, JLL, in a statement.

Cross-border Purchases in second quarter of 2012
New York -  $1,014 million
San Francisco - $685 million
Washington DC - $643 million
Miami - $554 million
Chicago- $529 million
Dallas - $514 million
Seattle - $431 million
Minneapolis - $384 million
Boston - $318 million
Phoenix - $317million