IE Business Daily Business news for the Inland Empire.
The Inland Empire accounted for seven of the largest industrial leases in the United States during the first six months of this year, according to data released today.
Only Atlanta, Chicago and Indianapolis surpassed the Inland region in the category, which was based on an average size warehouse lease of 931,860 square feet, CBRE reported.
That was a year-over-year increase of nearly 132,000 square feet.
Savannah, Ga., Dallas/Ft. Worth, Phoenix, Central Valley [Ca.], Pa. 178/81 Corridor and Memphis. complete the top 10
“The demand for 1 million sq. ft. or larger warehouses in the Inland Empire is driven primarily by Fortune 500 retailers and third-party logistics companies, many of which are adapting their supply chains to add extra capacity and meet their e-commerce needs,” said Dan de la Paz, executive vice president and an industrial specialist with CBRE Ontario, in the statement.
“As we’re still in the early stages of this supply chain strategy modernization, the trend for mega warehouses is likely to persist, especially in the Inland Empire.”
The Inland Empire leases totaled 7.4 million square feet, according to the statement.
