California’s Central Valley region closed out 2024 with its largest surge in positive absorption of industrial space since the warehouse boom of 2022.
Driven by several large new leases, Central Valley’s industrial market notched 2.9M SF of positive net absorption in the fourth quarter, up from 223K SF in Q3 and more than three times the total for the first nine months of 2024 of about 830K SF.
Three of the four largest leases signed in Central Valley in the fourth quarter were new deals, led by Georgia Pacific’s 1.3M SF lease at International Commerce Park in Tracy, CBRE reported.
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© 2025 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.
