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|November 21, 2017|
Commercial real estate stabilizes
INLAND EMPIRE – (INT) – Some new numbers attest to the region’s real estate vitality.
Over the past 5-years, the Inland Empire office vacancy has fallen from 22.9% to 11.8% and rates have climbed 11.8% to $1.90 per sq. ft per month. The largest increase in net absorption was recorded in the City of Corona.
Commercial Real Estate Services CBRE reports the Inland Empire retail market for tenants closed out the first half of the year on a note of stability. Inland Empire average asking lease rates grew year over year by 6.3% ending at $2.03 per sq. ft. in the Second Quarter.
In the industrial segment, rejuvenated interest in big-box industrial facilities accounted for 75.0% of total gross activity during the quarter. The Inland Empire East benefited the most with gross activity peaking at 4.4 million sq. ft.
Story Date: July 17, 2017