Market conditions finally have begun to shift in what has been the nation's hottest industrial market for the past year: vacancy rates ticked up and rents ticked down in Southern California's Inland Empire in the first quarter.
The overall industrial vacancy rate in Inland Empire—which last year was as low as a microscopic 0.4%—increased 60 bps to 2.8% in Q1 2023, according to a new market report from Savills.
No, we don't expect to roll out any "boom to bust" headlines soon regarding the sprawling Inland Empire market—now home to more than 570M SF of warehouses—that encompasses Riverside and San Bernardino counties from the Los Angeles city limits to the Arizona border. The 2.8% industrial vacancy rate in Inland Empire remains one of the lowest in the US.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
