Thursday, July 10, 2014

Voit Report: Inland Empire Industrial Market has Positive Absorption for Seven Consecutive Quarters; Office Market Positive for Five Consecutive Quarters


Jerry Holdner
            Inland Empire, CA– The Inland Empire industrial market took significant strides toward continued improvement in 2014 with significant positive absorption for the year thus far, a seven cent or 19 percent increase in asking lease rates, and drops in both vacancy and availability compared to a year ago.

“Overall in the Inland Empire industrial market over the last five years, vacancy has decreased over 55 percent while availability has fallen a jaw-dropping 58 percent,” explains Jerry Holdner, Vice President of Market Research at Voit.  “The substantial decreases in vacancy and availability are contributing to the gains in asking lease rates.”

  Industrial vacancy and availability continued trending downward throughout 2014. 

Vacancy ended the second quarter of 2014 at 5.60 percent, a drop of 3.78 percent from 2013’s second quarter, which is amazing since 12.3 million square feet of new product has been delivered to the market over the past four quarters.  

Likewise, availability posted a rate of 7.48 percent at the close of the quarter, a substantial decrease of almost 14 percent from a year ago.

As lease rates rise, sale prices are also ticking up, notes Holdner, who attributes this trend to the diminishing supply of industrial product for sale in Inland Empire.

For a complete copy of the company’s news release, please contact:

  Carla Mantecon
  Voit Real Estate Services
  (714) 978-7880


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