By Staff Reports
(Victor Valley)– Demand for industrial space in the Inland Empire remained strong in the third quarter, according to a new report from CBRE. Predominant trends fueling industrial growth included strong demand, rising rents, steady development activity, and high tenant retention. Despite cyclical slow summer months, e-commerce and logistics related users were active, boosting occupancy gains for the quarter. The lack of available space in the Inland Empire West continued to push tenants eastward, along the I-10, 210, and 215 corridors. Overall, the market showed no signs of slowing, setting the stage for another exceptional year with more big deals in the works.
According to CBRE, the Inland Empire continues to be one of the most active markets in the country, thanks to the growing demand from e-commerce and third party warehousing logistics companies, which has become critical to growth in the region. Strong occupancy gains over the last 48 months have added thousands of jobs to the local economy. Food and beverage demand is projected to grow, increasing development to meet looming demand in an already under-served cold storage market.