With healthy demand rising and a wave of deliveries subsiding in the third quarter, the vacancy rate in Inland Empire's industrial market did not increase for the first time in eight quarters.
New leasing activity increased for the fourth consecutive quarter in Q3 2024, rising to 12.2M SF, a 410K SF jump that is 3.5% higher than the second quarter tally in the vast SoCal market that stretches from the Los Angeles city limits to the Arizona border.
Only 2.1M SF of new supply in Inland Empire was delivered in the third quarter, down from 5.3M SF the previous quarter, bringing the year-to-date total to more than 18M SF, according to CBRE's latest marketing report.
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