January 17, 2017 Comments Off on Inland Empire Tops Nation in Warehouse Construction Views: 362 California, California News, Inland Empire, West

Inland Empire Tops Nation in Warehouse Construction

The Inland Empire experienced nearly 25 million square feet of industrial construction last year to lead the nation, according to JLL. Warehouse and distribution facilities dominated space deliveries.

That’s the third straight year when construction exceeded 20 million square feet. JLL reports that nearly 22 million square feet of space is currently under construction, with 12.5 square feet of that in the Inland Empire East submarket.

  • All this new product has grown the industrial inventory by more than 20% percent during the past five years, primarily coming in the past three years.
  • Since 2010, asking rents have increased more than 50% percent, now sitting at $0.51/sf monthly. This marks and all-time high, as rents jumped nearly 16% in 2016.
  • Land costs continue to escalate, pushing up construction costs and the asking rents on new deliveries.

Read more at JLL

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , ,

Comments are closed.