September 30, 2016
Since 2000, the Inland Empire industrial market nearly doubled in size from 265 million square feet to 513.3 million square feet today. Yet, the lack of available space has driven vacancy rates lower and caused rents to rise.
The latest market statistics from Kidder Mathews show available space has decreased by 18.8% since 2015, though new space deliveries increased by 31 million square feet. Average asking rates are up 11% over the past year.
Net absorption in Q3 2016 grew 6.3 million square feet, marking the 16th straight quarter of positive absorption, reaching a total of 76.7 million square feet. So far this year, 16.2 million square feet was delivered, including 6.6 million feet in the latest quarter.
Kidder Mathews reports an increasingly robust market with prices trending upward, as vacancies remain at historically low levels.
For comments, questions or concerns, please contact Dennis Kaiser