IE Business Daily Business news for the Inland Empire.
The Inland Empire industrial market was a story of east versus west during the fourth quarter of 2023.
The west end – Ontario, Rancho Cucamonga, Fontana – continued to improve in the last three months of the year, positive net absorption, declining vacancy and only slight declines in lease rates, according to CBRE.
But at the same time, the east side of the market – Riverside, Redlands, San Bernardino – experienced negative net absorption for the fourth consecutive quarter, vacancies increased and lease rates dropped 4.4 percent from the third quarter.
Overall, despite a nearly 40 percent decline quarter-over-quarter in transactions, the Inland region saw a 57 percent increase over 2023, helped by leasing in all size ranges on both the east and west ends CBRE reported.
