July 10, 2015
The industrial market in the Inland Empire doesn’t seem to be slowing down any time soon.
Lee & Associates’ Riverside office reported that about 4.3 million square feet was absorbed during the quarter, brining the year-to-date total to 7.5 million square feet. Vacancy rates continue to decline and are now at 4.65 percent in the region, a significant improvement from the 20-percent peak in 2009 during the Great Recession.
There was also 2.1 million square feet of industrial construction completed during the quarter. There is currently 13.9 million square feet underway, with all of the buildings totaling more than 100,000 square feet, which is a 16.9 percent increase from the prior quarter.