April 19, 2016
Robust tenant demand is expected to continue pushing rents up for industrial space, say CRE researchers. JLL predicts continued health in the Inland Empire, despite more than six million square feet of warehouse space completions in the first quarter, and another nearly 16 million square feet under construction.
Western submarkets experienced nearly 1.8-million square feet of new deliveries, and has another almost 9.3 million square feet underway. There was 4.4 million square feet of industrial product completed in the Eastern submarkets, with an additional 6.5 million under construction.
JLL also tracked approximately 20.3 million square feet of warehouse and distribution space deliveries last year.