Figures

Inland Empire Medical Office Figures Q4 2023

January 24, 2024 4 Minute Read

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- The Inland Empire (IE) health care industry maintained positive trends with growth in multiple areas.

- Health care employment slightly increased by 100 jobs quarter-over-quarter to 159,700 jobs in Q4 2023, up from the 153,200 jobs a year ago.

- Overall vacancy decreased 0.3% to 4.4% and overall availability decreased 0.7% to 5.1% quarter-over quarter as demand for medical office space grew.

- The vacancy rate in the medical office market was well below the general office vacancy rate of 8.8%.

- The IE’s total net absorption remained positive in Q4 2023 due to numerous deals in the 1,000-5,000 sq. ft. range.