New completions reached 12.8 million sq. ft., slightly increasing vacancy but was offset by strong demand with year-to-date positive net absorption reaching over 10.2 million sq. ft. For the sixth consecutive quarter, vacancy remained below 4.0% due to demand keeping pace with new supply.
As available supply for larger facilities in the Inland Empire West (IEW) becomes limited, many prospective and expanding users may have to look to the Inland Empire East (IEE) for options.
Year-to-date gross activity of 22.1 million sq. ft. surpassed 2017’s volume by 13.0% in the same time span.