The Inland Empire went pretty much from first to worst in terms of economic growth when the recession hit, but its industrial market has snapped back dramatically. So much so, in fact, that it accounted for nearly 30% of all US industrial absorption in 2010, according to a Jones Lang LaSalle report. The rebound in the industrial market raises the question of whether the good news is just in the industrial sector or is a harbinger of a general recovery in the region, which suffered some of the country’s worst job losses after a huge run-up in construction and employment during the last cycle.

Nobody is saying that the dramatic increase in demand for industrial space in the region—where spec industrial construction is already under way—is a sign that we’re headed for a rip-roaring growth explosion like the one just past. In the nationwide boom that preceded the latest recession, the Inland Empire, which consists of Riverside and San Bernardino counties plus a slice of the eastern part of Los Angeles, was one of the biggest players, producing thousands of new homes and a huge spurt of retail development. However, local experts say the industrial market’s growth is one of a number of signs pointing to a nascent recovery in both Southern California and in the US.

For the full story, click here.