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| Jerry Holdner |
Inland Empire, CA – Voit Real Estate Services reports Vacancy and
Availability in Industrial Market Reach Pre-Recession Levels.
The Inland Empire industrial market took significant
strides toward continued improvement in the second quarter of 2015 with eleven
straight quarters of positive absorption, a 5 percent increase in asking lease
rates, and significant drops in both vacancy and availability compared to this
time last year.
“Overall in the Inland Empire industrial market over the
last five years, vacancy and availability have decreased over 50 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 and higher occupancy costs.”
Industrial
vacancy and availability continued trending downward throughout 2015. Vacancy
ended the second quarter of 2015 at 4.74 percent, a decrease of 18.42 percent
from 2014’s second quarter.
This is
notable, since 25.2 million square feet of new product has been delivered to
the market over the past six quarters.
Likewise, availability posted a rate of 5.52 percent at the close of the
quarter, a decrease of almost 27 percent from a year ago.
For a complete
copy of the company’s news release, please contact:
Jessamyn J. Miller | Director of Marketing
Voit Real Estate Services
2020 Main Street, Suite 100 | Irvine, CA 92614
T (949) 566-6422 | C (949) 929-7147
jjmiller@voitco.com | www.voitco.com
Voit Real Estate Services, Broker License #01333376
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