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CBRE: IE is Home of the Nation’s “Youngest” Warehouse Inventory
Continuing industrial demand and the advanced age of U.S. warehouses, 43-years on average, is spurring record construction activity, as e-commerce and retail distributors want larger, more modern facilities. A recent report from CBRE indicates that the Inland Empire stands out as the youngest average warehouse age among the nation’s top 15 industrial markets.
“The Inland Empire market has rapidly developed over the last 35 years due to the availability of 30,000 acres of industrially zoned land near the Ports of Los Angeles and Long Beach. Demand has exploded in this region with the outsourcing of manufacturing in Asia,” said CBRE EVP Dan de la Paz.
The Inland Empire average warehouse age is 28 years, easily the youngest in the nation. Phoenix is next at 33 years, while Los Angeles is 10th at 47 years. Markets with younger inventory tend to be those with available and affordable land near large population centers.
- ◦Development
- ◦Economy
