Inland Empire Industrial Space: Q4 Leasing Report

Posted on February 16, 2013 ยท Posted in Analysis

The vacancy rate for Inland Empire industrial space was flat compared to the third quarter of 2012, holding steady at 4.9 percent. Positive net absorption was just over 3.4 million square feet and for the year the Riverside-San Bernardino area recorded just under 14 million square feet of absorption.

Asking rates were up 9 percent YoY with at around $0.35/square foot. 5.4 million square feet of new construction entered the market in 2012 and with vacancy levels hovering under pre-recession levels, look for construction to pick up even more. The market fundamentals highlight how important it is to begin searching for space now because landlords are gaining more leverage as the overall area continues to see broad based economic improvement and occupancy costs will rise as a result.

One of the advantages that Synergy has over other tenant representation companies is our deep knowledge of the Riverside – San Bernardino commercial real estate market and how we utilize that to our advantage when negotiating a commercial transaction. Contact us today to learn more about our services and how we can help you save on your next lease or purchase.