The Inland Empire has undergone a transformation in the past decade. Once a tertiary market to Los Angeles and Orange County, the Inland Empire has grown into a destination in and of itself, where people love to live as well as work. With 31.4 million square feet of new industrial construction delivering through the end of 2020, expansion space is plentiful for regional and national tenants looking to expand or relocate.
What’s behind the momentum? As the LA Basin struggles with a shortage of available industrial space, the Inland Empire has the unique ability to deliver large blocks of land that can be assembled to accommodate large big-box buildings. 27.7 million square feet delivered in 2018, yet 29.6 million square feet was absorbed. At mid-year 2019, this market led the nation in development activity with 31.4 million square feet of industrial space under construction and also ranked first in leasing activity with 22.8 million square feet of leased space. Most notably, job growth remains steady – since the Inland Empire’s employment expansion began in 2011, over 350,000 jobs have been created in the region, approximately 23.0% of its job base. In addition, consumer demand and spending have remained relatively resilient and eCommerce continues to thrive.
Looking Beyond the Inland Empire?
Whether your portfolio extends beyond the Inland Empire, or you simply want to understand how global real estate trends can impact your strategy, we’re here to help. Cushman & Wakefield has a strong market presence throughout Southern California, with ? offices and over ? brokerage professionals. Additionally, our clients benefit from market intelligence and insights drawn from 400 global offices in 70 countries.