Inland Empire Well Positioned for Comeback

[IMGCAP(1)]ONTARIO, CA-In the May/June issue of Real Estate Southern California , sources looked back at the growth of the Inland Empire over the past 10 years, from it’s rise from an obscure land of affordable housing and cheap dirt, to one of the fastest-growing economies in the US. And although, sources do not discount that fact the area as a whole has been hit hard by the recent recession across all product types, they did note that it is in a good position for a comeback.

“The pain is out there for everyone in the short run, but we have seen the last of new office building starts for a long, long time,” says Jack Hileman, principal of the Hileman Co. “The inventory and competition is fixed.”

[IMGCAP(2)]Hileman’s bet is hanging in there for a comeback. “Given that the very largest buildings in the Ontario area are only about 150,000 square feet each, it would only take one or two major relocations into this region and the world will suddenly change for everyone.” He continues that he would rather have an empty building in Ontario today versus an empty building in Orange County.