IE Business Daily Business news for the Inland Empire.
A study by CBRE Group Inc. has confirmed what anyone familiar with the Inland Empire industrial market probably already knew: the growth of e-commerce warehouse-distribution centers has fueled an unprecedented rate of development in the region.
Development in the 12 largest inland-port markets in the United Sates is growing at approximately twice the usual rate, mostly because of the large e-commerce facilities that are being built, according to the report.
Demand for industrial buildings in those markets is so strong that nine of those markets have seen their available space decline from their post-recession peaks faster than the national rate has declined, the report stated.
The Inland region’s vacancy rate is now 3.7 percent, the lowest it’s been since 2007.
“The Inland Empire, especially on its western edge, looks very much like an infill market, mirroring vacancy rates of submarkets farther west, such as Orange County and parts of Central Los Angeles,” said Petra Durnin, CBRE’s head of analysis and research for Southern California, in the report.
