Figures
Inland Empire Industrial Figures Q2 2026
Vacancy falls and net absorption rebounds as new leasing activity surges to new high
July 9, 2026 5 Minute Read
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- Vacancy in the Inland Empire (IE) Core decreased 40 basis points (bps) quarter-over-quarter to 7.4% in Q2 2026, down from 7.8% in Q1 2026. Separately, the IE West’s vacancy fell 60 bps quarter-over-quarter to 5.9% while vacancy in the IE East fell 30 bps quarter-over-quarter to 9.0%.
- New leasing activity soared to 15.5 million sq. ft. in Q2 2026, a 12% increase from the previous high of 13.9 million sq. ft. in Q1 2026 and up 41.7% from 10.9 million sq. ft. leased in Q2 2025.
- Asking lease rates in the IE Core averaged $1.08 NNN per sq. ft. per month in Q2 2026, a $0.01, or 0.9%, decrease from Q1 2026. Within the IE Core, average asking rates stood at $1.17 NNN per sq. ft. per month in the IE West and $1.03 NNN per sq. ft. per month in the IE East.
- Taking lease rates in the IE Core fell by $0.03, or 2.8%, quarter-over-quarter to $1.05 NNN per sq. ft. per month. While taking lease rates held steady at $0.94 NNN per sq. ft. per month in the IE East, they fell $0.03 to $1.11 NNN per sq. ft. per month in the IE West.
- Across the IE Core, 1.2 million sq. ft. delivered while 3.5 million sq. ft. of new development broke ground, bringing the under-construction pipeline to 6.2 million sq. ft. in Q2 2026. However, the new supply pipeline remained 41.3% below year-ago levels.