3rd Quarter 2016 Inland Empire Industrial CRE

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3rd Quarter 2016 Inland Empire Industrial CRE

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3rd Quarter 2016: Inland Empire Industrial Real Estate Market Trends Real estate data for Q3 2016 for the Inland Empire has been released and the figures are very positive. Third quarter data shows a positive net absorption of 433715 square feet of industrial space. This positive absorption occurred even after a major setback for the industrial real estate market in the West Inland Empire area. Sports Authority and Sport Chalet both entered into bankruptcy during this period and 901551 square feet of space became available as these companies closed their distribution centers. Regardless of this loss the overall area still gained 433715 square feet of used space proving that the Inland Empire continues to dominate the commercial property industry in California and in the United States. Current industrial reports show however that large leases continued to occur within this industrial area with an extraordinarily large lease occurring during Q3 involving Floor and Décor who leased over 1 million square feet of space during this period. Lease and purchases occurring throughout the Inland Empire ranged from small flex office space building to large industrial warehouses. Industrial Research Shows High Demand for Inland Empire Properties Industrial real estate trends show that Q4 will again show an increase in the amount of leased or sold properties within the Inland Empire. Demand for commercial space continues to grow as companies of all sizes convert their businesses into Internet based fulfillment businesses as opposed to brick and mortar businesses. In fact Wal-Mart Corp announced at their Q3 meeting in October 2016 that they will be focusing the next two years on converting their business into a more Internet based retailer than store front operations. As any California industrial real estate broker will inform their client the properties available in the Inland Empire offer businesses a way to reduce their operating costs through low property costs while retaining their ability to have easy access to supplies and transportation. The Inland Empire is located right outside of Los Angeles and has easy access to several major freeways and highways the railroad system an international airport and the ports in Long Beach and Los Angeles.

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http://leechanggroup.com/industrial-real-estate-news-inland- empire/1484850134013-7524b7c7-22cb

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