Inland Empire Industrial MarketView Q2 2021
July 16, 2021 1 Minute Read
An increase in renewal activity coupled with aggressive leasing caused the Inland Empire vacancy to drop to 1.4% in Q2 2021. Industrial buildings are leasing before they hit the market causing major declines in vacancy this year.
The average asking lease rate was pushed to a record high of $0.72 per sq. ft., a 24.1% increase from Q2 2020.
Gross activity exceeded 28 million sq. ft., bolstered by consistent demand predominantly from e-commerce, logistics and food and beverage companies.