Second Quarter 2026
Industrial Market Outlook
Inland Empire
EQT Real Estate sold this 1,004,400-square-foot industrial building to Artemis Real Estate Partners for $153 million ($152 per square foot).
Managing Director of Research and Public Relations at NAI Capital Commercial
LEASING TRENDS
Leasing volume dipped 3.4% QoQ but remained up 19.9% YoY in Q1 2026. Average asking rents rose 2.1% from the prior quarter, although they were still 5.8% below year-ago levels. Construction activity increased modestly QoQ but remained down 29.4% YoY, signaling a shrinking development pipeline.
SALES TRENDS
Sales volume jumped 246.3% quarter over quarter and 310.5% year over year in Q1 2026, marking a substantial increase in transaction activity. This surge coincided with a 33.3% QoQ and 27.0% YoY decrease in average sale pricing, suggesting lower prices helped drive transaction volume as the market cooled.
