Inland Empire West Q2 2024 Industrial Market Report

26 Jul

26Jul

Development pipeline down 57% year-over-year
Vacancy rates up 48%
Lease rates adjusted by 28%
Tenant activity has resumed in the Inland Empire West industrial market
Historic levels of positive net absorption in the submarket
Multiple 1-million-square-foot lease transactions executed by credit tenants
Nearly 5 million square feet of move-ins from big-box deliveries with prior year leases
Inland Empire continues to attract institutional capital
Class A 835,000 square foot building sold for nearly $200 million

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