The industrial market in Southern California's Inland Empire rebounded in the second quarter, with overall positive absorption and increased activity countering falling rates and rising vacancy.
Positive net absorption in the two-county market, which stretches from the city limits of Los Angeles to the Arizona border, totaled 3.8M SF—a swing of nearly 5M SF from the negative Q1 total of minus 964K SF.
Vacancy rose 90 bps quarter-over-quarter to 6.8% in Q2 2024, driven primarily by 5.3M SF of vacant deliveries. Sublease space decreased to 16.9M SF from the Q1 level of 18.5M SF, according to a new market report from CBRE.
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