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Lee Riverside: East Valley Industrial Stays Strong
The fourth quarter of 2019 posted strong activity and gross absorption for the East Valley industrial market of the Inland Empire, Lee & Associates Riverside reported. The Q4 report, prepared by Lee Riverside’s Caroline Payan, found that Industrial activity was consistently strong in all size ranges throughout 2019 and the final three-month period was no exception.
Gross absorption for 2019 totaled 21.2 million square feet, continuing on the heels of the record-breaking absorption performance in 2018 of 27.3 million square feet. Q4 gross activity was 6.4 million SF, with investment purchases and lease renewals accounting for 34.7% of the total.
“The Inland Empire continues to outperform most markets and we expect this to continue in 2020,” said Dwight Hotchkiss, president of Lee Riverside. “The absorption remains strong and there is strong user demand in all size ranges.”
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