May 18, 2017 Comments Off on Job Growth Spurs Inland Empire Office Market Views: 714 California News, Inland Empire

Job Growth Spurs Inland Empire Office Market

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The education and health services sectors grew at a steady clip of 4% annually between 2010 and 2016 in the Inland Empire, helping to buoy an expansion of office space in the area, according to a new CBRE research report.

Consistent low lease rates, available space, low housing costs and a steadily rising population have supported the region’s job growth at an average rate of 2.4% since the end of the recession. The Riverside-San Bernardino-Ontario area gained more than 250,000 new residents from 2010 to 2016.

CBRE’s Daniel Hunker says, “The Inland Empire is quickly becoming an attractive, largely untapped frontier for new home owners and office users looking to settle in Southern California. Population and office employment growth in the Inland Empire are intrinsically linked; as new blood is pumped into the area, civil, medical, and educational services must expand.”

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