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2019 Q4 Inland Empire Office Knowledge Report

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Research & Forecast Report - Inland Empire

Market Overview:
The total vacancy rate for the Inland Empire office market decreased 90 basis points in the fourth quarter of 2019 to 11.4% from 12.5% last quarter. The decrease in vacancy stemmed from positive movement in San Bernardino (down 240 basis points), Murrieta/Temecula (down 170 basis points) and Ontario (down 150 basis points) submarkets. The quarter closed with absorption recording 224,400 square feet, while leasing activity recorded 262,700 square feet, a number that ranks below the three-year average of 278,700 square feet. 

Market Description:
The Inland Empire office market comprises 20.4 million square feet, representing 7% of the total inventory of office buildings 25,000 square feet and greater in the Los Angeles basin. Office tenants located in the Inland Empire are predominantly firms in finance, insurance, real estate and professional services sectors. In contrast with most other office markets in Southern California, all of the space is located in low-rise (89%) and mid-rise (11%) buildings.

 

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2019Q4InlandEmpireOffice

2019 Q4 Inland Empire Office Knowledge Report

Download Report