Inland Empire Industrial MarketView Insert Q4 2020
January 27, 2021
- 2020 lease transactions reached 52.5 million sq. ft., a record high, demonstrating the strong demand for industrial products despite challenges from the ongoing Coronavirus pandemic.
- Net absorption was 7.8 million sq. ft. in Q4 2020, the region’s highest in at least 20 years.
- The IE’s unemployment rate fell by 80 basis points (bps) between October and November, to 7.9%.
- The Inland Empire’s average asking lease rate grew by 6.7% to $0.60 per sq. ft., quarter-overquarter and 5.1% year-over-year, exceeding CBRE EA’s previous forecast of 2.2% rent annual growth.