Local industrial market stays strong

Demand for industrial buildings in the Inland Empire remained high during the third quarter, while sales and leasing in that sector also stayed strong during that time, according to Colliers International.

Industrial sales and leasing during the third quarter in Riverside and San Bernardino counties totaled 7.6 million square feet, while vacancy rates declined year-over-year from 5.1 percent to 4.9 percent, according to Colliers’ third quarter report on the Inland industrial market.

During the third quarter, 11 buildings 500,000 square feet or larger were under construction in the Inland Empire, and 60 percent of those were preleased, the report stated.