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2021 Q4 Inland Empire Industrial Research Report

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INDheroIE_Q421

A Banner Year for the Inland Empire

Net absorption closed out the quarter at 6.9M SF, bringing the year-to-date total to 29.1M SF, the highest total ever recorded in the region. Overall vacancy dropped 30 basis points to 0.5% quarter over quarter and dropped 210 basis points since the start of 2021. Overall asking lease rates continue their intense growth with an 8% increase to $1.07 NNN PSF. Historically, the Inland Empire was always a cheaper alternative with plenty of options compared to the infill markets of greater Los Angeles. Since the beginning of the COVID-19 pandemic, asking rental rates have increased 51% and vacancy has dropped 280 basis points.

INDthumbIE_Q421

2021 Q4 Inland Empire Industrial Research Report

Download Report