Brief | Intelligent Investment
Inland Empire holds lowest U.S. office vacancy rate for 5 straight quarters
June 18, 2024 4 Minute Read
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- While the IE office market ranked among one of the smallest markets compared to its West regional counterparts, local and national companies continued to move to the IE due to the market’s attractive fundamentals.
- The IE consistently outperformed other office markets in the country and held the lowest vacancy rate for the past five quarters, averaging a 9.1% vacancy rate during that timeframe.
- Since Q1 2023, the IE office market experienced positive net absorption growth of 1.1% and stood out as the sole market in the Western region with positive net absorption growth over the past five quarters.
- Government, healthcare and engineering industries have been highly active due to their need to be physically in the office to use equipment, and Riverside and San Bernardino Counties are in growth mode to provide services to their communities.