November 2, 2016
Despite record new deliveries, the Inland Empire vacancy remains at cyclical low, according to research from JLL. Some 21 million square feet of space has come to market so far this year, yet the Q3 2016 vacancy rate has dropped to just 4%.
Other key findings of JLL’s research reveal that:
- The Inland Empire industrial market is on track to post its third consecutive year of positive net absorption in excess of 20 million square feet
- Despite heavy construction volumes, demand continues to outpace supply, pushing vacancy rates into the low single digits
- Vacancy rate dropped from 7.7% in 2011 and held steady at 5.2% and 5.3% respectively in 2014 and 2015
- Deliveries jumped from less than 5 million square feet in 2011 to more than 20 million square feet in 2014 and 2015.
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