Inland retail market steady, not spectacular

The Inland Empire retail market remained solid during the second quarter, with only minor changes compared with the first three months of 2015.

Retail vacancy was up slightly during the second quarter, from 10 percent to 10.1 percent, while the average asking lease rate remained unchanged at $1.88 per square foot, according to CBRE Group Inc.’s second-quarter report on the region’s retail market.

Some development was underway during the quarter, most notably the 185,000-square-foot Walmart Supercenter under construction in Perris.

The Inland Empire’s retail market is expected to experience positive growth during the next year, the report stated.