Industrial construction volumes remain high as small box development accelerates with 16.3 million square feet of year-to-date deliveries. Vacancy rates continue to fall given current tenant demand and availabilities in the market.
Year-to-date absorption totaled 12.8 million square feet for the entire market. IE East led the market this quarter with occupancy gains of 7.3 million square feet, surpassing 2015 year-end totals.
Landlords continue to be in command of this market and are driving up rents due to lack of supply. Even with favorable circumstances, the market continues to see organic growth with diverse tenant activity proving Inland Empire is a core, gateway market.
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Source: JLL Research; based on inventory 10,000 square feet and above