Market Conditions Remain Tight
The Mid-Counties industrial market closed out the first quarter with 442,255 SF of positive net absorption. The overall vacancy rate decreased to 1.1% from 1.7% at the end of 2020 and 60 basis points below its mark from 1 year ago. Mid-counties is located in the geographic heart of Southern California, positioned in one of the most populous regions. The area continues to attract the attention of developers looking for last-mile infill locations with superior freeway accessibility.