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CBRE: Inland Empire Continues to Net Major Industrial Leases
A recent report from CBRE shows that megawarehouses are becoming more sought after, as tenants signed leases at 37 facilities of 1 million square feet or larger in the U.S. in the first half of 2022, up from 24 a year earlier. The Inland Empire signed seven of the 100 largest leases, totaling 7.4 million square feet, ranking 4th in the country.
“The demand for large warehouses in the Inland Empire is driven primarily by Fortune 500 retailers and third-party logistics companies, many of which are adapting their supply chains to add extra capacity and meet their e-commerce needs,” said Dan de la Paz, executive VP with CBRE. “As we are still in the early stages of this supply chain strategy modernization, the trend for megawarehouses is likely to persist, especially in the IE.”
The national activity points to expansion in the industry, particularly for traditional retailers and wholesalers and 85 of the top 100 leases are new leases rather than renewals.
- ◦Lease
- ◦Economy
