IE Business Daily Business news for the Inland Empire.
The Inland Empire office market is off to a good start in 2025.
The region’s vacancy rate was 7.7 percent, down 0.2 percent from the last three months of 2024 according to CBRE.
That’s a modest number but still noteworthy. because it marked the seventh consecutive quarter of positive net absorption.
Class A buildings experienced more than 57,000 square feet of positive net absorption, outperforming Class B structures, which recorded only 5,706 square feet of positive net absorption.That trend was helped by much leasing in healthcare and legal professions.
Also during the first quarter, the average office lease rate in Riverside and San Bernardino counties was $2.05 per square foot, essentially unchanged quarter-over-quarter.
No office projects broke ground, or were under construction, during the first three months of 2025, but the report still ended on a positive note.
“With a growing population, and a continued positive outlook on the future of the region, the Inland office market will continue its trend of positivity throughout 2025,” the report states.
