The 3rd Quarter 2024 Industrial Real Estate Market Report is out for the Inland Empire West in Southern California
- The Inland Empire West submarket experienced a stall in net activity during Q3.
- Subleases and renewals dominated top lease transactions.
- Vacancy rates increased slightly, while availability trended downward.
- Pricing remained steady, but tenant concessions (e.g., free rent, tenant improvements) have risen and are now widely expected.
- Industrial construction slowed significantly, with the development pipeline at 43% of its year-over-year level.
- Institutional interest in the market continues to grow despite reduced activity.
