It’s no secret that the Inland Empire industrial market is among the best in the country, and recent second-quarter reports show that isn’t likely to change any time soon.
Voit Real Estate Services reported that there was just under 4.6 million square feet of net absorption during the quarter. Additionally there was 25 million square feet of assets under construction, the majority of them over 500,000 square feet. Vacancy was only at 4.74 percent, a strong year-on-year drop of 18.4 percent.
Meanwhile, Colliers International says the market is doing very well on a national level. The overall vacancy rate in the United States is 6.7 percent. Fueling this is strong GDP growth, increased consumer confidence and a growing demand by retailers and e-commerce firms for new distribution centers, said the commercial real estate services firm.