The Industrial Real Estate Market Report for the Inland Emprie West is out for the 2nd Quarter of 2024.
- 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
